ACCION USA, a Boston-based pioneer and leader in domestic microfinance, in partnership with American International Group, Inc. (AIG) today announced the launch of the "Build Your Credit" campaign-a series of seminars designed to educate immigrants in the Boston metro area about the importance of building credit in the United States, and practical tips and tools to start doing so.
Without a credit history, immigrants face a multitude of challenges with everyday transactions and often fall victim to predatory lending practices. A research study conducted by Encuesta, Inc. in July 2007, confirmed a deficiency in financial literacy among immigrants, especially with respect to personal credit. In this nationwide study, only 37% of foreign-born Hispanics reported to have reviewed their credit report and 27% reported to know their credit score.
To address this issue, ACCION USA will hold credit education seminars throughout the metro area from April 16th - July 16th. Seminars will be conducted in English, Spanish, Portuguese and Haitian Creole. ACCION USA will also provide qualifying participants with the opportunity to start building a credit history through a unique loan product developed especially for individuals with no credit history.
"We are excited to partner with ACCION USA on this important initiative to help educate immigrants on the responsible use of credit," said Ned Cloonan, Vice President of International and Corporate Affairs for AIG. "Learning and applying good credit practices is a crucial step towards achieving financial independence and security."
ACCION USA President & CEO Bill Burrus said, "Learning about how to build credit in the United States is an important first step towards building a brighter financial future and accessing mainstream financial services. ACCION is proudly behind this initiative."
The following seminars will be open to the public in Boston:
English Seminars
Wednesday, April 23rd, 11:00-12:30 & 6:00-7:30 pm, at the Asian American Civic Association Building, 87 Tyler Street Room 409, Boston
Wednesday April 30th, 5:30-7:00, at the Mystic Learning Center, 503 Mystic Avenue Room 103, Somerville
Friday, May 16th, 10-11:30, Bunker Hill Community College, 250 Rutherford Avenue, Room E175, Boston
Friday, June 13th, 10-11:30, Bunker Hill Community College, 250 Rutherford Avenue, Room E175, Boston
Portuguese Seminars
Tuesday, April 29th, 10-11:30, Wizards Language School, 226 Central Street, Suite 200, Lowell
Thursday, May 8th, 6-8:00, Wizards Language School, 14 Harvard Avenue, 2nd Floor, Allston
Tuesday May 13th, 6-8:00, Wizards Language School, 226 Central Street, Suite 200, Lowell
Friday, May 30th, 10-11:30 Bunker Hill Community College, 250 Rutherford Avenue, Room E175, Boston
Friday, June 20th, 9-10:30 Bunker Hill Community College, 250 Rutherford Avenue, Room E175, Boston
Spanish Seminars
Wednesday, May 7th, 5:30-7:00, Mystic Learning Center, 503 Mystic Avenue Room 103, Somerville
Monday, June 2nd, 5:30-7:00, Boston Public Library, 700 Boylston Street, Mezzanine Conference Room, Boston
Friday, June 6th, 10-11:30, Bunker Hill Community College, 175 Hawthorne Street, Room 121, Chelsea
Monday, June 9th, 10:11:30, Boston Public Library, 700 Boylston Street, Mezzanine Conference Room, Boston
Friday, June 27th, 9-10:30, Bunker Hill Community College, 175 Hawthorne Street, Room 121, Chelsea