SUGAR LAND, Texas, Oct. 11, 2018 /PRNewswire/ -- The Hispanic Centers for Financial Excellence (HCFE) in Atlanta and Miami have received the Agency Innovation Award by the National Foundation for Credit Counseling (NFCC). The Agency Innovation Award recognizes an NFCC member for their game-changing product, service, program, partnership, or other transformative community outreach making a significant impact to the agency or its clients.
The HCFE addresses the economic divide in Latino communities through a unique, location-specific approach to solving Spanish-speaking communities' financial health concerns. According to a 2016 Prosperity Now report (formerly CFED), the average Hispanic family has six times less wealth than their White counterpart. As renewed attention to the topic of racial and ethnic wealth gaps in the United States surged, Clearpoint, a division of Money Management International (MMI), identified service gaps and responded to help the Hispanic community gain financial confidence in a culturally welcoming environment.
"Our Hispanic community is often taken advantage of, so they need a safe place to come and know that they will receive unbiased, free financial advice with no strings attached," said Emanuel Rivero, Director of the Hispanic Centers at MMI. "Hispanics are resilient, hard-working people. The community is incredibly goal-oriented, but they need to be aware of the nuances of the U.S. financial system in order to realize their dreams."
Since its inception in 2012, the HCFE has helped over 10,000 individuals and families achieve their financial goals, increase their net worth, and reduce their debt. HCFE staff provides equitable service delivery; meeting clients where they are, both from a financial literacy and physical setting standpoint. Advisors empower individuals to identify goals that matter to them, take action to reach their goals, and overcome the obstacles that stand in their way.
"Before I came to the center I felt like I was in quicksand; wasting my time and energy getting nowhere with my finances," said Diana, a client of the Atlanta HCFE. "I am grateful because this program has helped me improve my own credit score, and here in the U.S., good credit is as important as having cash."
A generous two-year grant from the SunTrust Foundation provides full operating support for the centers and allows the HCFE to reach thousands of new Hispanic clients in need of direct financial guidance and education.
Money Management International (MMI) is changing the way financial challenges are solved. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For 60 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions that are aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
SOURCE Money Management International