As you might know, low income families are more susceptible to the economic shock that comes with disasters such as wildfires, diseases like COVID19 or earthquakes. In these times the disparity in economic security is the most apparent– folks do not have bank accounts, access to credit and the means to push for their rights as tenants or first time home owners or micro business owners. A recent survey by the Federal Reserve found that 40% of American adults did not have enough savings or credit to cover a $400 emergency. Approximately 27% would need to borrow the money or sell something and 12% would not be able to cover it at all.
CRC’s Community Economic Health Workers/ Promotoras work with groups, families and individuals on a one-on-one basis to:
- Provide basic education on necessary financial products (free bank accounts, budgeting for saving, existing alternatives to high cost loans, understanding credit)
- Connect families with organizations that can provide longer term direct service support as needed, and
- Advocate for access to and development of financial products for low and middle income communities.
We invite our member organizations to contact us to coordinate a webinar for your clients or to request one on one meeting for families and individuals you might work with. We also invite members who provide specialized financial education support to join our referral network. Please contact Patty Villasenor for more information or to be added to the network and for circulation of any materials you might want to provide.
Read more about our Promotoras Sabrina, Delmis, and Julia here.