By Chris Goldschmidt
Imagine moving to a completely new place. Not just to the next town over, but the next country – or even another continent.
It’s a leap of faith, one that requires newcomers relearning almost everything: language, customs, laws. And banking concepts that may be different from their home countries.
Based on their first-hand experiences coming to America, two Regions branch managers know the importance of making the transition to American life as seamless as possible.
Meet Arpita Patel, Branch Manager in Anderson, South Carolina, and Saira Tajani, VP and Branch Manager in Suwanee, Georgia. Both arrived with a dream. But, at the same time, they came here with little knowledge of the American approach to banking and financial management.
“My parents never had financial literacy,” Patel offered. “As a result, I didn’t know the basics of how to save money, how to buy a car and how interest rates worked. To my mother, saving money added up to having enough to buy one week of groceries. So, when I came to the States, my financial education came from the struggles in my own life.”
Tajani agreed that some financial concepts might prove second nature to those who have grown up in America. Yet how Americans manage money may prove completely new to our newest residents.
“One example?” Tajani offered. “One common theme we see a lot among immigrants is how home equity is a completely new concept to them. Some are skeptical, worried that the bank will take away their house. Others become very interested once they realize how a home’s equity, not their fixed cash, can be used for other purposes.
“Another example?” Tajani added, “For many, that credit cards can be a valuable financial tool, as well as their responsible use. That’s why financial education is such an important part of what we do.”
Teaching new concepts in money
For many lifelong residents of the United States, financial rules of the road are practically second nature – resulting from years of parental advice or experience and wisdom that’s earned over time.
However, for newcomers, financial education is vital. Not only does it shorten the learning curve for enjoying success, but it’s the passport to achieving the American Dream. One Regions associate who is attuned to the needs for the specialized financial education needs of this audience is Keren Treme, Regions Community Engagement Financial Education Trainer. She, too, draws on her personal immigration experience when helping newcomers.
“For many new to this country, life back home is completely different than it is here,” Treme pointed out. “There’s not just the language and cultural barriers. And it’s not just a different array of financial products, either. There’s also a hesitancy based on past experiences.”
That hesitancy, Treme added, comes from banks, and banking services, not being used as frequently. “That means helping them understand how to harness a bank, any bank, is an important part of building one’s financial confidence.”
According to Treme, what questions get raised the most?
- Understanding Credit. What is a credit score, why it is needed, and how to build a credit score over time
- Credit Options. What products are available? And what product is right for what situation?
- Mobile banking. The importance of having app authentication up to date before traveling back to home countries
- Avoiding identity theft and fraud. Immigrants are often considered easy targets by fraudsters
- General banking product information. How and when to use a checking account, savings account and more
- Home ownership. How to qualify for a mortgage, what to avoid in a purchase, and how to leverage equity for wealth building and other needs
Regions is a strong advocate for financial education. As a result, it provides a wealth of resources, not to mention team members, dedicated to helping newcomers gain financial literacy.
Treating newcomers like new neighbors
Empathy matters.
That’s evident in how Patel and Tajani harness their own experience every day, treating immigrants like fellow travelers. This helps build bridges for those unfamiliar with the American approach to financial management.
“The reason I take this part of my job personally is due to all the struggles I experienced in my life,” offered Patel. “This is not just a job for me. I remember what I went through, so I continually educate the people I meet. I want to help this community, so I ask questions such as ‘Where are your savings? What is your retirement account?’ Because no one advised me to invest for the future to protect my loved ones, I make sure I give them the knowledge they need.”
Patel’s mission for financial education isn’t confined to immigrants, either. She devotes time to other members of the community, too.
“As one example, Hope Ministries of the Upstate helps many homeless and financially challenged people. I consider it a privilege to help them with coaching plans, lunch-and-learns, and budgeting and credit classes.”
At the same time, international students at nearby Anderson University and Clemson University must learn the ins and outs of money management even while they’re busy taking classes. And Patel is there to help.
“We have a real campus focus, with an emphasis on campus activations. We’ve found that our Breakfast and Learn program is a great way to make connections.”
Meanwhile, Tajani draws on that same wellspring of personal experience when establishing rapport in the community. The result? Greater trust and comfort, both in Regions and in understanding how financial products work.
“I take great pride in actively taking part in all kinds of community initiatives. Engaging with local events strengthens the ties between our bank and the surrounding area. At the same time, it provides me with valuable insights into the unique needs and aspirations of the people we serve. The fact that I also speak the language of many in that community helps create a great deal of trust.”
Just the same as Patel, Tajani relies on an energetic outreach effort to help others enjoy stronger financial awareness.
“We make it a priority to take part in events. Some of those opportunities include Cultural Night at Johns Creek Elementary, Baisakhi Mela for the Pujari Association at Lambert High School, and The Festival for the St. Mary Orthodox Church. These efforts foster trust and build long-lasting relationships. It’s a mutually beneficial experience—helping both the bank and the community thrive.”
The bank for everyone. Wherever they’re from
It’s important to support customers in their journeys. Even those journeys that originate in other countries.
As one example of its range of services to newcomers, Regions offers TransPerfect translation services in all branch locations.
To Tajani, this capability is just an extension of the customer service values Regions associates already share.
“I see my job as doing more than just selling product,” Tajani said. “Instead, I focus on the relationship building that is so crucial to customer success. My motto is to enjoy life, help others. That means, I can feel blessed to be with a company that wants you to grow and to help in the community. That’s what Regions is all about.”
Arpita also feels that Regions provides the much-needed support to help customers from all walks of life grow in their financial understanding.
“I like that the Regions culture puts people first and always encourages associates and customers to reach higher. I love working with people and like to connect with the customer and make differences in their lives. That keeps me motivated in my mission.”
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