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The report summarizes the outcomes of a pilot program that provided financial education workshops and a matched savings program for 97 Centro participants to start emergency funds in Dane County, Wisconsin. WISER trained Centro’s staff and leaders to share information, educate peers, and enlist volunteers to form an independent community support network to ensure the program’s sustainability.
The project was made possible by the TruStage™ Foundation, along with two local credit unions—Summit Credit Union and UW Credit Union—providing support to accommodate small deposits with access to low or no-cost accounts. The Latina Savings Project sheds light on how barriers to saving can be overcome by meeting women where they are (both literally and figuratively), sharing knowledge, and sparking motivation while providing easy opportunities to save. |
ABOUTThe CUNA Mutual Foundation has awarded a grant to the Women’s Institute for a Secure Retirement (WISER) to implement in partnership with Centro Hispano of Dane County (Centro) the Latina Savings Project - an emergency-savings pilot program - in 2021.
The project will provide access to culturally competent financial workshops with a matched savings program for participants in Dane County, WI. In addition, WISER will work to train Centro’s staff and leaders to share information, educate peers, and enlist volunteers to form an independent community support network for the Saving Project to ensure the program’s sustainability. The Latina Savings Project helps participants understand their finances; overcome barriers to saving; develop achievable savings goals; open a savings account; and develop a saving habit by making monthly deposits and receiving matched savings after 6 months. To implement the project, WISER and local partner Centro Hispano of Dane County, and national partner, MANA – A National Latina Organization will work with local credit unions that will accommodate small deposits and provide access to a low or no-cost savings account. |
Download the official press release.
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