SECURE Tulare

1
SECURE Tulare

• Securing Economic Collaboration, Understanding,
  Resources, and Empowerment for Tulare County

2
Tulare County Financial Education Stakeholders

• Frank Ruiz
• Community Development Specialist
• County of Tulare
• Community Development Redevelopment Division

3
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

4
Need for Financial Education

• Underutilization of Financial Assistance Programs
• Unclaimed EITC 24.6 million
• Large Unbanked Population
• Up to 50 of Latinos do not have a transaction
  account
• Financially Disconnected Population
• 43 of Latino workers know nothing of investing
  or saving for retirement

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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

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Reaching Latino Customers

• Citibank Global Transfers
• Real-time money transfers domestically or to
  Mexico for a flat 5 fee
• Citibank Access Account
• Entry-level, checkless checking account
• Banamex Tricolor Card
• Allows recipients of the transferred funds in
  Mexico to access the funds
• Banamex USA Bi-national Credit Card
• Allows US customers to share their lines of
  credit and other benefits with their families or
  friends in Mexico

7
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

8
A Call to Arms

• "Silver and gold I do not have, but what I do
  have I give to you.
• - Simon Peter

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Local Government Partners

• Tulare County Redevelopment Agency
• Health Human Services Agency
• Workforce Investment Board
• Housing Authority of Tulare County
• Tulare County Library

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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

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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

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Other Local Partners

• Local Education
• Office of Education School-to-Career Program
• College of the Sequoias
• Porterville College
• San Joaquin Valley College
• Local Media
• Fresno Bee
• El Sol Newspaper
• Other
• Central Valley Legal Services
• Annya's Tax Service
• Winegard Energy

13
Federal Partners

• Federal Deposit Insurance Corporation (FDIC)
• Department of Housing Urban Development (HUD)
• Internal Revenue Service (IRS)
• United Stated Department of Agriculture (USDA)

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Pilot Project SECURE Tulare

• Securing Economic Collaboration, Understanding,
  Resources, and Empowerment for Tulare County

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Workshop Logistics

• Target Group
• Low-income, Unbanked, Latino Families
• Special Emphasis on Spanish only Families
• Targeted Areas
• 11 Unincorporated Communities Countywide Pixley,
  Earlimart, Goshen, Ivanhoe, Orosi, Poplar,
  Richgrove, Strathmore, Terra Bella, Tipton,
  Traver
• Six Consecutive Weeks (once per week)
• Two Hours Per Workshop

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Program Structure

• Program Duration Two Years
• Staffing
• Community Organizers
• Workshop Facilitators
• Promotion Incentives
• Community Accessibility
• Participation Incentives
• Asset Accumulation

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Topics Covered

• Immediate Family Economic Security Financial
  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

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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

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Your Role as a Bank

• Funding for Program Costs
• Community Sponsorships of 2,500
• Workshop Presenters
• Introduction
• Budgeting Basics Modern Banking
• Creditworthiness Predatory Lending
• Homeownership Resources
• Materials Incentives
• Transaction Account Assistance
• Asset Accumulation Incentives

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Potential Benefits

• Community Benefit
• Financial Relief through Education (Quality of
  Life)
• Target Rich Environment
• 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
• Expanding Market
• Significant development pressure in target
  communities
• Limited banking resources in the unincorporated
  areas
• CRA Credit

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Contact Information

• SECURE Tulare
• Securing Economic Collaboration, Understanding,
  Resources, and Empowerment for Tulare County
• Frank Ruiz
• Community Development Specialist
• County of Tulare
• [phone]
• fruiz_at_co.tulare.ca.us
• Raquel Acuña
• Program Coordinator
• Community Service Employment Training
• [phone]
• racuna_at_cset.org