PHOENIX — Desert Schools Federal Credit Union is stepping up its local educational outreach efforts to the local immigrant population in an effort to help them fight back against financial fraud.
"When it comes to financial matters, fear and fraud are the two biggest problems facing immigrants," said Emma Garcia, director of community development at Desert Schools. "We've met families here in the Valley who will not put their money into a financial institution because they fear deportation, lack of access to funds and a host of other reasons."
Garcia said she's spoken with families who have fallen victim to predatory lenders, identity theft and fraudulent schemes.
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"Immigrants, in general, are untrusting of financial institutions," added Garcia. "As a result, many families keep cash in their vehicles, in their homes or other unsafe places. Many are repeatedly victimized when their vehicles are stolen or they are robbed."
This year, the credit union developed a series of comprehensive educational guides printed in Spanish to help local immigrants understand credit, manage a checking account and purchase their first home.
In Arizona, the Hispanic community represents nearly 30% of the population. Desert Schools reaches out to them with grants, targeted Hispanic media campaigns, cultural promotions, scholarships and education in the schools where children learn the benefits of financial responsibility. The credit union's Hispanic outreach efforts were recently recognized with the 2006 Louise Herring Award for Philosophy in Action, presented by the Arizona Credit Union System.
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