Financial Knowledge Project | Financial Literacy

The Financial Knowledge Project was launched in April 2011 to help bring awareness to Financial Literacy Month and to study the attempts of financial educators who instruct the –
  • 46% who use little or no banking
  • 70% that live paycheck to paycheck
  • 21% who spend more than their income
  • 58% that lack a “rainy day” fund.
It is the intent of this Project to reveal the historical impact of the 1977 Community Reinvestment Act.  The Project explores how low and moderate income communities have been impacted by financial agencies’ and institutions’ attempts in financial education.  The Project views how non-profit organizations and colleges are attempting to prepare future workforces with personal financial competency.
Cultural relevancy in this project is the commonality of communities or sub groups.  The project explores how women and Latinos might learn or search for solutions.  The adaptation of activities in these communities should provide insight on how educators plan and execute toward learning outcomes.
Supporting agencies and institutions may use this project to ensure financial support and resources are implemented for the improvement and benefit of the public.  This project seeks to increase awareness of important and significant impacts of financial stresses in LMI communities to help protect and increase the vitality of the economy.
Financial Literacy
Download Report | The Financial Knowledge Project kicks off Financial Literacy Month.

  • 45% of the total U.S. Latino population are under-banked, meaning they have no bank account or made more than one non-bank financial transaction in the past 30 days.
  • Un-banked immigrants pay approximately $2 billion annually in fees to check cashers to access their hard- earned cash.
  • 22% of Latinos have no credit history, compared to 4% of whites and 3% of African-Americans which prevents them from accessing low-cost loans to purchase property, and are cut off from low-cost credit markets, forces them to high-cost predatory lenders.
Understanding the barriers of each community provides a cultural compass.  This project will seek to promote an understanding of community realities and financial challenges.  It seeks out opportunities to engage collaborators in financial literacy.

California Census 2010

The increase in population occurred in almost every county in the state of California.  These results show California’s population is still growing. The largest percentage of ethnic growth was with Asians, Latinos, and Pacific Islanders.  Even though many think the Pacific is what lures people to the Golden State, the largest increase in populations occurred in central California.  Planning for the needs of these communities will task policy makers for many years to come.  Demand for resources in these communities will become evident as coalitions of community organizers start seeking infrastructural and financial services.  CAFF is looking forward to researching these communities’ financial needs to help educational institutions deliver financial solutions that are culturally relevant.