Credit Unions Making a Difference in the Hispanic Community
Four years ago, I did not find myself in the same place where I am today. Most of my success as a young professional can be attributed to my parents, mentors, and friendships. However, it can also be attributed to the relationship I built with a credit union when I was 18 years of age.
Through my high school career, I had to overcome many obstacle because of my lack of legal status. As an undocumented high school student, college was not going to be a possibility for me, regardless of how good my grades and resume was.
Half way through my senior year, I was granted the Deferred Action for Childhood Arrivals, also known as DACA. After submitting evidence that proved that I was a
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The credit union I was a member of knew about the situation I found myself in. Because they knew who I was, what I was trying to accomplish, and what financial barriers I needed to overcome, they informed me about programs and scholarships I could apply for.
One particular program I was a beneficiary of is called the Individual Development Accounts Program (IDA). Those who meet the income-based criteria are enrolled in a matched savings account. Credit Union members who are trying to buy their first home, purchase a new car, or enroll in higher education can apply for the IDA program. The goal is to build a habit of savings and provide financial education opportunities to underserved markets like the Hispanic community.
To have my savings matched, it’s a requirement to save up $2,000 in six months of more. I was in a hurry to pay for my first at Drake so I worked three jobs in the summer of 2013. I was an administrative assistant at nonprofit, in the evenings I worked as a kitchen aid in a retirement home, and in the weekends I babysat at night. I don’t know how I survived that summer, but I know it was worth