SECURE Tulare

SECURE Tulare Securing Economic Collaboration, Understanding, Resources, and Empowerment for Tulare County Tulare County Financial Education Stakeholders Frank Ruiz Community Development Specialist County of Tulare Community Development & Redevelopment Division Welcome to Tulare County       Hispanics/Latinos are the Majority (51%, Target-78%) Large Immigrant Community (23%, Target-42%) Need for Spanish Language Services (16% speak Spanish but do not speak English well, Target-37%) Highest Unemployment in the Valley (13%, Target-24%) Low Educational Attainment (23% with less than a high school education, Target-48%) Pervasive Poverty (23% of Population, Target-35.9%) Target: Census Designated Places on the Valley Floor of Tulare County * Need for Financial Education  Underutilization of Financial Assistance Programs  Unclaimed EITC = $24.6 million Up to 50% of Latinos do not have a transaction account 43% of Latino workers “know nothing” of investing or saving for retirement  Large Unbanked Population   Financially Disconnected Population  Power of Latino Consumers  March 15, 2004 Business Week Article:    Since November, 2001, Wells Fargo L.A. Region has opened 250,000 accounts by accepting matricula consular cards 22,000 new accounts are opened each month in L.A. Additional services are able to be provided to immigrants such as Opportunity Checking Accounts & Intercuenta Express Reaching Latino Customers  Citibank Global Transfers  Real-time money transfers domestically or to Mexico for a flat $5 fee Entry-level, “checkless” checking account Allows recipients of the transferred funds in Mexico to access the funds Allows US customers to share their lines of credit and other benefits with their families or friends in Mexico  Citibank Access Account   Banamex Tricolor Card   Banamex USA Bi-national Credit Card  Local Stakeholder Support  Over 33 Tulare County Stakeholder Agencies       Local Government Non-Profits Banks & Credit Unions Local Education Local Media State & Federal Partners  Purpose: Reaching the underserved through a collaborative outreach and education program A Call to Arms "Silver and gold I do not have, but what I do have I give to you.“ - Simon Peter Local Government Partners      Tulare County Redevelopment Agency Health & Human Services Agency Workforce Investment Board Housing Authority of Tulare County Tulare County Library Local Non-Profit Partners              Community Service & Employment Training (C-SET) ACORN Housing Self-Help Enterprises Love In the Name of Christ First 5 Tulare County Center for Independent Living Valley Small Business Development Corporation Central California Small Business Development Center California Reinvestment Coalition Proteus United Way FoodLink Consumer Credit Counseling Services Bank & Credit Union Partners        Tucoemas Federal Credit Union Citibank Bank of the Sierra El Futuro Federal Credit Union Valley Small Business Development Corp. Wells Fargo Most local banks have voiced their support Other Local Partners  Local Education      Local Media   Office of Education: School-to-Career Program College of the Sequoias Porterville College San Joaquin Valley College Fresno Bee El Sol Newspaper Central Valley Legal Services Annya's Tax Service Winegard Energy  Other    Federal Partners     Federal Deposit Insurance Corporation (FDIC) Department of Housing & Urban Development (HUD) Internal Revenue Service (IRS) United Stated Department of Agriculture (USDA) Pilot Project: SECURE Tulare Securing Economic Collaboration, Understanding, Resources, and Empowerment for Tulare County Workshop Logistics  Target Group   Low-income, Unbanked, Latino Families Special Emphasis on Spanish only Families 11 Unincorporated Communities Countywide: Pixley, Earlimart, Goshen, Ivanhoe, Orosi, Poplar, Richgrove, Strathmore, Terra Bella, Tipton, Traver  Targeted Areas    Six Consecutive Weeks (once per week) Two Hours Per Workshop Program Structure   Program Duration: Two Years Staffing   Community Organizers Workshop Facilitators Community Accessibility Participation Incentives  Promotion & Incentives    Asset Accumulation Topics Covered 1. Immediate Family Economic Security & Financial 2. 3. 4. 5. 6. Relief Importance of Budgeting & Transaction Accounts Creditworthiness & Predatory Lending Homeownership & Home Maintenance Resources Career Development: Job Training, Higher Education, and Small Business Development Resources Community Involvement & Celebration Pixley Pilot Project  Started on November 10, 2005  Thursday Nights at C-SET Office    # Participants Served: 20 per workshop # Partner Agencies: 24 presenting Lessons Learned:    Bank involvement is very important Partner with local community organizations and programs with captive audiences Experienced translators are necessary Your Role as a Bank  Funding for Program Costs   Workshop Presenters     Community Sponsorships of $2,500 Introduction Budgeting Basics & Modern Banking Creditworthiness & Predatory Lending Homeownership Resources   Materials & Incentives Transaction Account Assistance  Asset Accumulation Incentives Potential Benefits  Community Benefit  Financial Relief through Education (Quality of Life) Up to 50% of Latinos do not have a transaction account Remittances to Latin America = $30 billion in 2004 Migrants spent approximately $700 million in transfer commissions and other fees in 2004 Significant development pressure in target communities Limited banking resources in the unincorporated areas  Target Rich Environment     Expanding Market    CRA Credit Contact Information Securing Economic Collaboration, Understanding, Resources, and Empowerment for Tulare County Frank Ruiz Community Development Specialist County of Tulare (559) 733-6291 fruiz@co.tulare.ca.us Raquel Acuña Program Coordinator Community Service & Employment Training (559) 757-1604 racuna@cset.org SECURE Tulare