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HOUSTON -- Texas supermarket chain Fiesta Mart, Inc. here has joined forces with San Francisco-based Visa USA to launch a Spanish-language financial wellness magazine called "Vías," to empower Hispanic consumers with basic financial education.
The free 16-page publication will be available at select Fiesta stores in Houston; and will also be distributed in New York, Los Angeles, Chicago, and Washington, D.C. Its total circulation is 100,000.
The partners expect an eager market for the publication. According to Visa, 20 million Hispanics are currently "unbanked." "One of the reasons Fiesta is able to serve our community so well is because we understand the needs of our customers," said Fiesta Mart spokesman Bernie Murphy in a statement released today. "As Latinos come and spend their hard-earned dollars at Fiesta, we want to empower them with financial education that ensures their money works just as hard for their families."
The magazine's editorial content will include inspirational stories of how financial services helped Hispanics rise above difficult circumstances, as well as articles demystifying beliefs about financial products and services that may have been carried over from native countries. It will also provide tips on how to plan for retirement, create a budget, open a checking account, start a small business, and educate children on the importance of money management.
The magazine venture is a part of the Visa Hispanic Financial Education Campaign, a national effort to provide basic financial education to Hispanics.
Visa chose Fiesta Mart because the chain is a "landmark in Houston's Hispanic community." said Elyssa Gray, v.p. of Visa USA. She said distributing the magazine at Fiesta stores ensures the publication credibility with the readers it intends to reach.
Roughly translated, "Vías" refers to the pathways, or different options, one may take in life.
Fiesta Mart, a subsidiary of Grocers Supply Co., operates more than 40 supermarkets in the Houston, Dallas/Ft. Worth, Austin, and Waco markets.