The Mexican American Opportunity Foundation (MAOF) has teamed up with ClearPoint Credit Counseling Solutions to improve financial know-how in the local Latino community.
The two groups will combine resources to put on a series of free workshops on topics such as creating a budget; surviving financial setbacks; help for homebuyers and how your bank account works.
ClearPoint Pacific Region President Martha Lucey said partnering with MAOF was the non-profit’s first choice.
“We were talking about providing financial literacy in the community and MAOF is a leader in providing financial services to the community. We naturally knew it would be a great relationship, so combining the expertise that ClearPoint has delivering financial education and counseling with MAOF’s reach into the community, I think is going to spell success,” said Lucey.
The workshops begin in August and will continue at least once per quarter and potentially more often, Lucey said. “We’ll be delivering the workshops in both English and Spanish,” she added.
ClearPoint has worked with the Mexican Consulate in the past to provide financial literacy information to the Latino community, but this is a first-time collaboration with MAOF.
“I’m sure that working with MAOF we’re going to reach the community like we’ve never reached it before,” she said.
MAOF President and CEO Martin Castro said his nonprofit organization has partnered with other financial institutions to put on financial literacy workshops, and says the partnership with ClearPoint will assist MAOF in its mission to improve the lives of Hispanics locally.
“ClearPoint Credit Counseling Solutions, they are the experts. They do this as their vision. So, when they approached me about partnering, it was really a no-brainer because the classes are free of charge. Our community needs these services. We have the facilities where we can offer some of these services to our own community, to the general community out there and to our own staff,” Castro said.
Castro said the Latino community has great purchasing power and the need to increase financial literacy in the Latino community has become even more evident in the last seven or eight years.
“The Latino community is becoming more affluent … those that are affluent are already taking advantage of our financial institutions, but you also have low-to-moderate income families, immigrant families who need this financial information to get ahead. That is why this partnership is so important and so critical,” he said.
The first workshop will be held at MAOF on Aug. 16 at 5:30 p.m. It will focus on how to create a budget. Additional workshop dates will be announced at a later date. All workshops are open to the public and will be held at MAOF headquarters located at 401 N. Garfield Ave, Montebello, CA 90640.
For more information on the workshops, call 1-877-877-1995 or visit www.ClearPointCCS.org