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Us mexico border alliance

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Us mexico border alliance

  1. 1. CFRC is a California Finance Lender and certified by the U.S. Dept. of the Treasury as a Community Development Financial Institution (CDFI)
  2. 2. Los Angeles Landscape <ul><li>Disinvested… sort of </li></ul><ul><li>Disenfranchised </li></ul><ul><li>Asset poor </li></ul><ul><li>Shut off from the financial mainstream </li></ul>
  3. 3. Our Role <ul><li>Provide asset building programs and services </li></ul><ul><li>Bridge access between financial institutions and neighborhoods </li></ul><ul><li>Point of financial resources </li></ul>Stabilize Communities
  4. 4. <ul><li>of U.S. </li></ul><ul><li>households (approx. 9m) are unbanked </li></ul>43% of Hispanic households are unbanked or underbanked 7.7%
  5. 5. <ul><li>Micro - enterprise </li></ul><ul><li>Human Capital </li></ul><ul><li>Home ownership </li></ul><ul><li>Cash Flow Buffer / Emergency Fund </li></ul>Roads to Asset Building
  6. 6. Platforms <ul><li>Bank on LA campaign </li></ul>
  7. 7. challenges <ul><li>Historically-disinvested neighborhoods </li></ul>
  8. 8. challenges <ul><li>Historically-disinvested neighborhoods </li></ul>
  9. 9. Products <ul><li>Savings Accounts – 18-23% interest subsidy payouts </li></ul><ul><li>Asset Building Accounts – $1 for $1 match saving accounts for education, business or homeownership </li></ul><ul><li>Capital Partners – Comprehensive program that offers loans, business training and education, group support, and networking opportunities to entrepreneurs and business owners with limited access to working capital </li></ul><ul><li>Business Lending – Loans starting from $5,000 to $250,000 </li></ul>
  10. 10. <ul><li>Relationship-Building | CBO </li></ul><ul><ul><li>In order to foster successful community collaboration between the agent and CBOs, partnering organizations must understand the value of the service being provided. </li></ul></ul>
  11. 11. <ul><li>Leverage Factor </li></ul><ul><ul><li>In order to foster successful community collaboration between the agent and CBOs, partnering organizations must understand the value of the service being provided. </li></ul></ul><ul><ul><li>Strong referrals + satisfactory experience = reinforces trust </li></ul></ul>
  12. 12. <ul><li>Leverage Factor </li></ul><ul><ul><li>In order to foster successful community collaboration between the agent and CBOs, partnering organizations must understand the value of the service being provided. </li></ul></ul>
  13. 13. Why are you paying people to save?
  14. 14. Outcomes <ul><li>Promote the HABIT of Savings </li></ul><ul><li>Help Families Increase or Establish an Emergency Fund </li></ul><ul><li>Establish banking relationship with individuals and families who are out of the financial mainstream </li></ul>
  15. 15. Account Description <ul><li>Choose from 3 different savings accounts </li></ul><ul><li>Save monthly </li></ul><ul><li>Interest Subsidy of 18-23% APY </li></ul><ul><ul><li>TAX FREE! </li></ul></ul><ul><ul><li>Quarterly Interest Subsidy Deposits for 12 months </li></ul></ul><ul><ul><li>Quarterly Deposits earned are Yours to Keep </li></ul></ul><ul><ul><li>You can withdraw at any time </li></ul></ul><ul><ul><li>No fees, no penalties for early withdrawal </li></ul></ul>

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