SUPPORT FINANCIAL EMPOWERMENT OF NEW AMERICANS

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New American Leaders In Their Community

“..I learned new things and I earned money towards my savings goal for hosting at my apartment. My friends were able to start saving, too. Three parties later I am closer to buying my car and I was invited to become a community ambassador. Less than 10 years ago I was learning all of this for the first time. Now I am the one teaching other Somali women. People tell their friends, “Oh you have a money question? Ask Ashikiro.

In 2018, we launched our Financial Empowerment for New Americans Project. Innovation in this project took the form of moving from interpreted financial classes to financial house parties, held in hosts' homes with friends and relatives they invited and the topics chosen by attendees. These included banking in the U.S., building credit scores, budgeting, microbusiness development, buying a house or car, and more.

By recruiting and training a cohort of "community ambassadors" interested in serving as a financial coach and/or class facilitator, we relinquished control and empowered them to be leaders in their community. This reduced our costs by half when ambassadors joined our Financial Futures team, and made the program sustainable for the long run. In 2020:

  • 58 New American clients participated in financial and/or business coaching.
  • 162 financial and business coaching sessions
  • 35 Financial House Parties held, 158 participants

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Financial Empowerment for New Americans/CVOEO
PO Box 1603
Burlington, VT 05402