Latinos face barriers to accessing even basic services such as banks, placing them at an increased risk of poverty and victimization. According to the Pew Charitable Trusts, Latino immigrants are the first and hardest hit by economic downturns because of their lack of savings and limited access to emergency assistance such as TANF, unemployment benefits, Food Stamps, and Medicaid. In October 2002, the Liaison launched a Financial Counseling Program to help Latino families understand and access US financial systems to build wealth and long-term financial stability, and avert financial emergencies.

Participants in this program have applied new knowledge and skills to redefine and reach their financial goals. In order for Hispanic immigrants to improve their circumstances, they must learn about, and have access to all the financial tools and services available to other county residents. The Financial Counseling Program helps clients increase their financial stability and access to financial services through one-on-one financial counseling, resource referral, and advocacy. The Counselor also accompanies Latinos to local banks to assist in the process of opening an account and/or applying for a loan. Other activities include conducting financial literacy workshops on topics such as banking, how to establish credit, household budgeting, home buying, loans, and mortgages.

The program also assists our community in applying for Individual Tax Identification Numbers, enabling them to file taxes and open interest bearing bank accounts, claim tax refunds, and apply for some loans and mortgages.

In addition, we offer a 0% interest Micro-loan Program (up to $500/year) and offer individualized financial counseling sessions to loan recipients. Loans are available for micro-business enterprises or financial emergencies. This program is only available to Chatham residents.