The Consulate s Role in promoting financial inclusion

Transcription

1 The Consulate s Role in promoting financial inclusion Roundtable - Financial Inclusion for Immigrant Consumers January 16, 2015

2 There are almost 60 million hispanics in the US; More than 30 million are of mexican origin; 12 million were born in Mexico; 6 million are undocumented; 2.5 million mexican undocumented immigrants reside in Califonia *3.1 million total; There are almost 1 million undocumented immigrants living in LA County; 561,000 are mexicans; LA County has the largest Mexican population in the U.S.; 11% of the total Mexicans in the U.S. live here *3.5 million. Mexicans born abroad 14% Mexicans in the US Population Facts Total population in U.S millions Census 2010 Mexicans 11% Mexicans born in USA 22% Others 89% Total population in LA County 9.8 millions Census 2010 Others 64%

3 The importance of the Mexican community in the region Immigration Status It is expected that the Immigration Accountability Executive Action announced by President Barack Obama on november 20th will benefit more than 5 million undocumented immigrants. AT LEAST 3 million will be mexican

4 The economic potential of the Mexican Community Hispanic population has been starting and growing new businesses at nearly twice the rate of the general population. This trend has continued for more than ten years (Hispanic Businesses & Entrepreneurs Drive Growth in the New Economy Report 2013). Nevertheless, in Los Angeles-Long Beach-Santa Ana 18% of the Hispanic households are unbanked and 25% are underbanked (FDIC economicinclusion.gov 2013).

5 The Consulate s Role To promote financial education and access to reliable services through partnerships with institutions that give our community the tools needed to take adequate decisions. We work at three levels: Bi-national collaboration between Mexico and the United States. Year long agreements between the Consulates and banks, credit unions and other financial institutions or non-profit organizations. Organization of specific events like seminars, call banks, workshops, the Financial Literacy Week and others. *Ventanilla de Educación Financiera

6 Campaign Prepárate! (Get ready!). What we do to promote financial literary During tax season we establish partnerships to provide orientation and services regarding taxes, credit and savings.

7 Financial Literacy Week Every March/April, we work with different organizations to put together a series of events and activities in and outside our premises to promote financial literacy. Throughout the week we offer information and guidance regarding different topics including: basic banking; personal finances; small business finances; entrepreneurship; savings, credit and loans and mortgages, among others.

8 Other Actions Financial Literacy Guide with Saber Es Poder Financial Education Clips on the Consulate s Screens 15 minute conferences throughout the day Specific workshops and seminars throughout the year Participation in fairs and events

9 The Consular Identification Card Consular ID, also known as Matrícula Consular was created as proof of Mexican nationality and address abroad. The Matrícula Consular It is issued in accordance to international legal instruments subscribed by Mexico and the United States (Vienna Convention of Consular Relations, 1963). It is recognized as proof of identity by many banks and financial institutions, as well as federal, state and local authorities in the United States.

10 The New Matrícula Consular Main security features of the new Consulate ID Card

11 Matrícula Consular Acceptance Statistics Counties >200 Police Departments >1,500 Cities >400 Banks >200 Sharing information agreement between the Ministry of Foreign Affairs & the DMV of California Immigration and Customs Enforcement

12 How can we work together? - Accepting the Consular ID as valid identification - Establishing collaboration agreements with Mexican Consulates - Providing information about credit union services in the Consulate - Designing specific programs that ATTRACT, EDUCATE AND SERVE the unbanked and underbanked

13 Thanks for your time! Adriana Argáiz Consul for Community Affairs Consulate General of Mexico in Los Angeles Tel: (213) Luis Manuel López España Community Economic Development Coordinator Tel: (213)