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| Ranking |
Effective Practice |
| Description |
Finanzas is a bilingual financial literacy program serving Perdue Farms employees in Georgetown, DE. It operates in conjunction with the state's Live Near Your Work initiative, and strives to enable workers to purchase homes near their place of employment. Participants in the six week financial literacy course are encouraged to open bank accounts and establish direct deposit for their paychecks. They also receive housing counseling from National Council on Agricultural Life and Research (NCALL) staff. Participants can attend training during work hours with no loss of pay. |
| Goal / Mission |
The goal of this program is to promote financial literacy and encourage home purchasing by Spanish-speaking employees. |
| Results / Accomplishments |
Thirty-six workers attended Finanzas during the first year. NCALL held pre- and post-class tests to measure participants' knowledge and track their financial development. NCALL found that the class directly impacted participants' behavior: 26 percent opened checking and savings accounts; 15 percent decided to work toward purchasing a home; and 85 percent gained confidence in the banking system. Some participants have enrolled in homeownership counseling through NCALL and many have repaired or improved their credit histories. |
| Categories |
Economy / Investment & Personal Finance
Economy / Poverty
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| Organization(s) |
National Council on Agricultural Life and Labor Research Fund and Perdue Farms |
| Source |
Finance Project |
| Date of Publication |
Sep 2005 |
| Location |
City: Georgetown, DE |
| Primary Contact |
Joe L. Myer, Executive Director
National Council on Agricultural Life and Labor Research Fund
363 Saulsbury Road
Dover, DE 19904-2722
(302) 678-9400
jmyer@ncall.org
http://www.ncall.org
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| For more details |
http://www.financeproject.org/promising_results...
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| Target Audience |
Racial / Ethnic Minorities |
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