LOS ANGELES–Rize Credit Union led a Memorandum of Understanding (MOU) signing ceremony between the Consulate General of Mexico in Los Angeles, Inclusiv and other Juntos Avanzamos-designated credit unions as part of a collaboration that “aims to enhance financial inclusion and economic empowerment for local Hispanic communities regardless of immigration status and help people of modest means reach financial independence.”
As a member of Inclusiv, Rize CU noted it has held the Juntos Avanzamos designation for a decade and has focused on providing Hispanic and immigrant consumers with safe, affordable and responsible financial services.
‘Heart of Where We Stand’
“Partnerships like this one between Rize Credit Union and the Consulate General of Mexico in Los Angeles are at the heart of what we stand for at the credit union,” Jennifer Oliver, president and CEO of Rize Credit Union, said in a statement. “We understand how important financial inclusion is for building strong, thriving communities. Our commitment to helping Hispanic and immigrant neighbors confidently navigate the financial system is one we are proud of. When everyone has access to the tools and resources they need, it lifts up the entire community.”
According to a statement from the credit union, the collaboration between Rize CU, the Consulate, Inclusiv and other Junto Avanzamos-designated credit unions “aligns with credit union’s focus to create good in the communities they serve, as well as expand financial education and equitable inclusion for the unbanked and underserved communities.”
The partnership also allows for those with official Mexican consular cards to open an account with Rize CU, giving them access to safe and secure banking and financial literacy tools.
‘Groundbreaking Work’
“Inclusiv congratulates Rize Credit Union for its commitment to serving the Hispanic and immigrant communities. This groundbreaking work is a testimony to the vision and determination of the credit union leadership of Jennifer Oliver and Diana Cervantes and their relentless belief that financial inclusion is a human right and an effective mechanism to empower communities left behind by the financial mainstream,” Pablo DeFilippi, executive vice president of Inclusiv Network, said in a statement. “The growing collaboration between Juntos Avanzamos designated credit unions and the network of Mexican consulates brings together financial institutions willing and able to provide responsible, affordable yet sustainable financial products and services with a market in desperate need of those tools, critical to achieve financial security and build assets to create more equitable and resilient communities.”
Financial Advisory Window
According to Rize CU, the Consulate General of Mexico Los Angeles offers a Ventanilla de Asesoría Financiera (VAF), or Financial Advisory Window, where it provides free, confidential and timely guidance on the optimal management of personal and family finances, savings, credit, budget, taxes and entrepreneurship.
Rize Credit Union said it will support these efforts by assisting the Consulate with VAF services and leading workshops, talks, and financial education fairs.