El Centro Holds Financial Literacy Class Posted September 28, 2016 by Irene


El Centro, in partnership with Brotherhood Bank & Trust, offered the Financial Literacy Class last Saturday. The class was delivered in a small, intimate environment, in which 13 participants were encouraged to interact with the presenters and with each other by sharing their own personal experiences and asking questions.

The following are some positive outcomes from that presentation:

  • Emilia Martinez, a recent widow with three children, has been struggling to make her mortgage payments.  Mrs. Martinez was relieved to learn that she may qualify to refinance her mortgage at a lower interest rate and, thus, lower her monthly payments.  To explore that option further, she was provided with information about several resources that may be able to help.
  • Fernanda Segura was interested in starting her own business but did not know where to begin.  During the course, Ms. Segura discovered the importance of having a bank account—which she has since opened!—and was also given information about the free Expo event that will be held in November for Latino business owners by the Olathe Latino Coalition.
  • Jorge Cañarte, who is in the process of applying for U.S. citizenship, has saved enough money for a sufficient down payment on a home.  Nonetheless, he believed he could not start the home buying process until he received his citizenship.  Mr. Cañarte learned in the class that he can obtain a mortgage loan now solely with his Individual Taxpayer Identification Number (ITIN).
  • Jose Sanchez felt the course was so essential to him and his family that he made every effort to attend, even though he had been admitted to hospital two days earlier for complications stemming from high blood pressure.

As with the previous classes, the participants’ overall evaluation of the course was positive, each citing how grateful they were for the information and resources given to make better financial decisions.