Hispanic Federation Launches Initiative to Boost Financial Resilience in Underserved Communities in Partnership with Centro Community Partners
Oakland, California - Today, Hispanic Federation announced the second iteration of the HANDUp Financial Empowerment Initiative, and Centro Community Partners is one of 10 organizations across the country that are breaking down financial barriers for underserved communities by providing financial wellness courses for individuals, families and small businesses. Thanks to support from Wells Fargo, the HAND Up Financial Empowerment Initiative seeks to provide financial education training to 3,000 low to middle-income individuals, entrepreneurs, and small businesses across the country. As a part of the program, Centro Community Partners will empower individuals by offering culturally and linguistically relevant technical assistance and financial literacy programs to create thriving communities.
Research has shown that even when incomes are the same, the wealth gaps persist. The continuation of this wealth gap can be attributed to a lack of opportunities to access financial education in underserved communities. Through this initiative, residents of California, New York, and Florida will gain access to financial education modules on key topics such as budgeting, credit building, savings, asset building, and other critical wealth-building tools.
“Financial management can be the defining factor behind retiring with a home that has been paid off or working well into your 70s just to make ends meet. We know that saving and investing can seem untenable for the countless individuals who are working long days just to put food on the table but that is also why it is so important to make these financial literacy programs accessible, flexible, and responsive to the nuances that our communities face,” said Diana Caba, Vice President for Community and Economic Development at Hispanic Federation. “Growing wealth is at the heart of the American dream, and only by expanding the tools for financial management can we move the American dream within reach.”
Centro Community Partners is excited to join Center for Changing Lives (Chicago, IL), Chicano Federation (San Diego, CA), Eastmont Community Center (Los Angeles, CA), Fifth Avenue Committee (Brooklyn, NY), Hispanic Alliance of Southeastern Connecticut (New London, CT), Prospera USA (Orlando, FL), Immersion for Spanish Language Acquisition (Chapel Hill, NC), Northwest Side Community Development Corporation (Chicago, IL), and Ponce Neighborhood Housing Services (Ponce, PR) to make financial education more accessible.
Hispanic Federation is also working with partner organizations to refine learning materials for the HANDUp Financial Empowerment Initiative. The program is being enhanced in a culturally responsive way, includes Spanish language accessibility, and addresses the needs of the underserved communities. You can find out more about the program here.