In an attempt to lure in more non-Hispanic customers, Banco Popular is changing the name of some of its Southern California branches.
Started in Puerto Rico in 1983, Banco Popular has 24 branches in Los Angeles, Orange, and San Diego counties, and in the region, Banco Popular will soon go by the name Popular Community Bank.
The company has already done the rebranding in Illinois, said Manuel Chinea, senior vice president of US retail banking operations.
Chinea said the first time Banco Popular realized its Hispanic name was a problem was when it acquired Whittier-based Quaker City Bank in 2004.
“In 2005 we rebranded Quaker City Bank to Banco Popular and we noticed a higher attrition among non-Hispanic customers. The feedback we got was ‘I think you are going after the Hispanic market; I’m not Hispanic so this isn’t for me.’”