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NCUF grantee helps Kansas City Hispanics with fin lit
KANSAS CITY, Mo. (1/11/11)--Holy Rosary CU is making headway in helping its local Hispanic community become financially literate through a collaborative financial education program made possible by a grant from the National Credit Union Foundation.
“Your Finances Today” is part of an outreach initiative to bring financial services and skills to the largely unbanked Latino community in Kansas City. Here, instructor Ximena Pacheco and her assistant, Leonel Prato, discuss the basics of credit during a “Your Finances Today” session. (Photo provided by National Credit Union Foundation)
The program, “Your Finances Today: Building Your Brighter Financial Future” is one part of an outreach initiative to bring financial services and skills to the largely unbanked Latino community in Kansas City. Through NCUF’s grant to the Missouri Credit Union Association, St. Louis, Nancy Pierce, field coach for the NCUF’s REAL Solutions program in Missouri, is working with Holy Rosary to develop community partnerships to better serve the market and to document efforts and results for a case analysis. The $10 million-asset Kansas City-based credit union is working with St. Anthony’s Parish Catholic Church to reach Latino parishioners and to gain their trust. The Reverend Joseph Cisetti of the parish approached Carole Wight, CEO of the credit union, in 2009 and requested financial and educational help for his Latino parishioners. The result is a growing and strengthening relationship between the church and credit union to perform outreach to meet the financial needs of the Hispanic community. The program’s two-hour modules were taught over a seven-week period. Ximena Pacheco, a native of Chile with a background in personal financial education, constructed the curriculum and taught the classes. The modules covered the U.S. financial system, credit and budgeting and identity theft. The final two sessions, which addressed buying a house, funding a college education, and starting a micro-business, were taught by Spanish-speaking experts in those areas. As a community development credit union, Holy Rosary also was provided a grant by the National Credit Union Administration (NCUA) to cover the costs of the instruction and development of a curriculum designed for the immigrant market. The participants were identified by Brother Jim Krause of St. Anthony’s as leaders among the Latino parishioners and were encouraged to attend the program, so they could recommend future courses to other families.
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