Us mexico border alliance

389 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
389
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Los Angeles is a unique and interesting place. At over 3.5 million denizens hailing from the City and over 14 million in the metropolitan area it ranks in as one of most populous and diverse counties in the U.S. Known as the “Entertainment Capital” of the World it is not all glitz and glamour here. In fact there is a not so attractive underbelly to Los Angeles that is often misrepresented. LA is often referred to as the land of neighborhoods or a land of suburbs. It is when we travel into the low-income areas where we begin to see the disparities. Several areas around the urban core, specifically, that of downtown Los Angeles are becoming unsettled. The re-branding of Downtown LA as well as the expansion of the USC campus community has put the low-income residents of those neighborhoods in the middle of a transition that could threaten their economic stability. When we picture these communities and others like them we know that they are asset poor. We see that they underrepresented by financial institutions. We see that they are fragmented.
  • As a nonprofit community development financial institution our role is to enhance the financial capacity of disinvested neighborhoods through asset building. We introduce small business owners, micro-entrepreneurs and asset deficient households to financial resources. As we work to create wealth in communities we also see the residual effect of stabilizing communities.
  • Around 54% of African-American households are unbanked or underbanked. 17.9% of U.S. households (approx. 21m) are underbanked.
  • What roads will guide a family to building assets? Typically wealth creation initiatives has been delivered in three ways; entrepreneurship, education, and homeownership. But what about the asset of savings?
  • 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>

    ×