Norma L. Hernandez's parents never had a bank account; she now runs a credit union (and a city, its first Latina Mayor)

The mayor of College Place, WA answers 21 questions with Mighty.

08-20-2020

Name: Norma L. Hernández

Age: 52

Neighborhood: Highland Park, College Place, WA

Occupation: Mayor of College Place, WA and Executive Vice-President of Blue Mountain Credit Union, a member-owned, nonprofit credit union based in College Place that is focused on providing fair banking services to low-income communities.  

Where do you bank? 

I bank with Blue Mountain Credit Union, where I work, and with BECU (originally the Boeing Employees Credit Union, and now the largest credit union in the state of Washington that is open to all people who live, work and go to school in the state of Washington, and in select regions of Oregon and Idaho).

 

Why did you choose them?   

I bank with Blue Mountain Credit Union because I believe in its mission: it is focused and has expertise in working with overlooked and vulnerable low-income communities. I bank with BECU for its being a pioneer in the credit union industry. They have great technology, too.  

 

What’s the top thing you need in a bank? 

A focus on the people they serve.  Not investors, stockholders, or corporations.  They must have a mission above and beyond a profit strategy. 

 

Describe what you do in your job, in one sentence. 

I help people who have have little or no history with banking to access fair banking services, and I empower our employees to support them.

 

Are you a finance person? 

Yes.

 

What’s a finance person, anyway? 

Ahh, trick question. I believe it is a person who focuses on understanding how money and the system of money works.

 

What was the name of the first bank you ever had an account with? 

King Street Terminal Credit Union (now Express Credit Union) in Seattle.

 

Do you remember anything from going to the bank as a kid? 

No, I never went to the bank as a kid.  My parents never had a bank account. 

 

Tell us about a neighborhood that’s special to you, and why it’s special. 

Northeast El Paso, where I grew up.  It was a true community. We were all low-income, but kids played freely, and we watched out for one another.

 

What’s the last thing you used cash for? 

Blueberries at my local farmer’s market.

 

Cash, card, or Venmo? 

Card. It’s safer than cash, and more convenient than Venmo.

 

What finance-related article, book, or movie has made an impression on you?

Too Big to Fail (a book by Andrew Ross Sorkin that became an HBO movie).

 

If you were the professor of an economics class, what would your course be called? 

How To Make Money Work For You

 

What does wealth mean to you? 

Security and assets.  No matter the amount, if you have enough security and assets to support your life goals, you are wealthy.

 

Can you give a recent example of how you used your money to make a difference? 

I donated to the White Center Food Bank.  For some, food banks are their only source for nutrition. 

 

What will you do with all the bank interest you’ll earn in the next year? 

If interest rates remain at record lows, interest earned will be nominal.  I’ll just leave it in my account. 

 

Finish this sentence: Banks _

…you know the saying “if you do not have something nice to say…?” As a credit union person, I must “…not say anything at all.”   

 

Finish this sentence: Mighty _

…has the potential to change the way Americans think about banks.  

(We’re working on it!)

What’s a dream you have for the world? 

That humans will see one another as equal.  If that could happen, the causes of inequity could be fixed. 

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Others answering 21 questions with Mighty