financial literacy for immigrant populations consumer action’s community-based organization...
TRANSCRIPT
Financial Literacy for Immigrant Populations
Consumer Action’s community-based organization network model
www.consumer-action.org Slide 1
www.consumer-action.org
Immigrants are open to learning
Many arrive with strong values about earning and saving money
Have an interest in gaining knowledge of the U.S. financial system
Understand the need to make wise and informed financial decisions
Slide 2
Consumer information
Many newcomers have financial goals but lack knowledge about• our financial services marketplace• our credit reporting system• consumer rights• frauds and scams
www.consumer-action.org Slide 3
www.consumer-action.org
Addressing the English gapThe U.S. financial systems is complex, even for
English speakersFocus on community-based organizations (CBOs)
• Trusted pipeline to train adult financial literacy educators, and
• To distribute our free, multilingual consumer information• Hand-holding services, one on one as well as in groups
Access to the Internet• Need printed materials, not only online
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www.consumer-action.org
Key elements of our strategy
Trusted entities in the community are the best avenue for educating limited English speakers and newcomer communities
Building capacity of community-based organizations to serve newcomer communities with financial literacy education
Providing free materials and training for community based organizations
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www.consumer-action.org
Providing training guides and consumer information in languages besides English
Tailoring materials for the community where they are intended to be used
Knowing the communities and the issues that may cause your messages to be misconstrued or ignored
Conducting public education campaigns and information campaigns via in-language community media
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www.consumer-action.org
Community media
Targeting the in-language media with publicity and messages is a great way to reach the community
When conducting public education campaigns and information campaigns, include in-language community media• These outlets are more likely to:
• view such information as newsworthy• run the entire message
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www.consumer-action.org
Provide basic money management information
Getting the best value for monthly expensesOpening a bank accountBuilding a good credit reportComparison shoppingProtecting your identityAvoiding money scams
• Help newcomers understand that waste and fraud can empty your pockets of hard-earned money
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www.consumer-action.org
Help CBOs and they’ll help you
Provide• Free multilingual materials for clients• Train the trainer guides and seminars• Mini grants to help teach financial literacy
Go where the community is• Hold roundtables and trainings nearby• Offer travel stipends
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www.consumer-action.org
Best practices
Learn from the CBOs• How to present to their communities• How to best disseminate information• What community needs are
• Capacity for learning• Learning styles
Conduct follow up surveys to understand outcomes• SurveyMonkey works well for this
Slide 10
www.consumer-action.org
Contact Consumer Action
www.consumer-action.orgoutreach@consumer-action.org800-999-7981Multilingual consumer hotline: 415-777-9648 or
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