How One NCLR Affiliate is Helping Low-Income Latinos Build Wealth

By Agatha So, Policy Analyst, Economic Policy Project, NCLR

Senior Counselor Dora Beltran talking with participants in the citizenship program, held at our Affiliate CARECEN in Washington, DC.

Building wealth is essential for Latinos to achieve financial prosperity today, and is essential to the prosperity of generations to come. That’s why NCLR works with nearly 300 community-based Affiliates across the country to help Latinos improve their credit, increase their savings, and build wealth. The Washington, DC-based Central American Resource Center (CARECEN), a member of the NCLR Homeownership Network (NHN), is a pioneer in offering financial capability services for Latino families. As we continue Financial Capability Month, we’re proud to feature the work of Anabell Martinez, Housing Director at CARECEN.

Martinez and the CARECEN staff focus on how they can empower Latino families to make informed financial decisions. “For many clients coming to CARECEN for financial counseling, it’s the first time they hear about making a budget,” said Martinez. She understands the need for financial capability because she knows what kind of questions Latino families have about building wealth and the difficulties they face to protect what they have earned.

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This Week in Immigration Reform — Week Ending September 23

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This week in immigration: National Academy of Sciences releases major report on immigration economic impact; Citizenship Day activities

National Academy of Sciences Report: An expert panel of the National Academy of Sciences, the nation’s most prestigious and respected source of independent and objective scientific analysis, released a major new report this week on The Economic and Fiscal Impacts of Immigration. Among the report’s major findings:

  • Immigration has an overall positive impact on long-run economic growth in the U.S.
  • There is little evidence that immigration significantly affects overall employment levels and wages of native-born workers; research finds slight positive effects for some groups and slight negative effects on other groups of native-born workers.
  • As adults, the children of immigrants are among the strongest fiscal contributors in the U.S. population, contributing more in taxes than…the rest of the native-born population.
  • The population of unauthorized immigrants shrank by over a million from 2007-2009, and has remained stable since.

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