SEMILLAS PROGRAM

The International Migrants’ Development Fund SEMILLAS’ Program advocate, promote and organizes Latino immigrants around the need for economic and financial inclusion. Informs and educate immigrants about financial opportunities and services available locally and in their communities of origin. The program also supports immigrants to increase their capacity to obtain better employment opportunities. (Download Information; Spanish - English)

Training of Trainer’s Program, July 2007..

A key factor that hinders immigrants’ economic development is the limited access to formal financial institutions, particularly those that are socially responsible and the limited knowledge about the potential of savings that contribute to wealth building. Through increased knowledge, savings, and investment, migrants can collectively reduce poverty in their communities and in their communities of origin.

According to the Inter American Development Bank, more than 50% of Latinos in the United States and around 70% in the Latin America and Caribbean Region are unbanked . In the United States, regulated financial institutions such as banks and credit unions comprise only about 20% of the market. Barriers such as culture and language, uncertain immigration status, lack of policies for their insertion in the financial system and, lack of trust in these institutions, pressure immigrants to use money transfer agencies rather than the banking system Latino immigrants and immigrants in general, are vulnerable to robberies due to the barriers mentioned above.

In the Latin America Region, exclusion of the financial system has been identified by multilateral agencies and development experts as a critical element that hinders development.

Workshop session at Mary’s Center, Nov. 2007.

Semillas Financial Literacy Curriculum
FIDMi’s SEMILLAS Curriculum is a culturally and linguistically competent financial education program that uses participatory methodologies and techniques that aims to: a) create awareness among individuals and the community about the importance of savings and investments; b) promote community’s recognition of the impact on the local savings pool as a mean to increase the social and economic capital in the Washington, D.C. area and; c) promote the use of the banking system via the services and products offered by local financial institutions and partner financial institutions. The Curriculum is  also designed as a Training- of -Trainers’ Manual by which community promoters are trained to co-facilitate workshops, financial counseling and, community outreach and organizing.  The SEMILLAS workshop sessions and lessons plans are organized based on the needs of each particular group.

Curriculum Outline
• WORKSHOP 1: Basic Banking Concepts I
• WORKSHOP 2: Basic Banking Concepts II
• WORKSHOP 3: Type of Bank Accounts
• WORKSHOP 4: The Impact and Management of Remittances at the Personal,
_______________ Community and Regional Levels
• WORKSHOP 5: How to Create a Budget
• WORKSHOP 6: Diverse Savings Programs
• WORKSHOP 7: How to Understand your Credit History

Street Outreach, September 2007.

Community Financial Promoters’ Project
Through the Community Financial Promoters, FIDMi trains members of the community to become trainers’, counselors, advocates and organizers, so their peers understand how –to navigate the formal financial system, are informed about opportunities for savings and investments and, create awareness around the impact of remittances in their countries of origin. Additionally, they promote the services and products offered by Mi Tierra, FIDMi’s social enterprise.

FIDMi promoters program accepts applications for volunteers interested in participating in the Training of Trainers’ Program.

PROGRAM ACCOMPLISHMENTS
• Created Training –of Trainers Manual and Workbook for program participants.
• Created Training Curricula on Continued Education & Leadership Development.
• Engaged in formal MOU’s with community-based organizations’ and 10 additional organizations on financial literacy
• Trained 30 Financial Promoters.
• Taught over 400 workshop sessions on financial literacy.
• Conducted Financial Literacy Workshops to 3,000 Latino immigrants.
• Reached out/informed over 25,000 individuals on programs and services.
• Provided one-on-one financial counseling to over 2,000 immigrants.
• Conducted Trainer of Trainers’ among 30 Latino Community
• Leaders from National Organizations on how to introduce Remittances issues at the Social Forum in Atlanta, Georgia, July 2007
• Invited to present Model Program in international, national and local conferences and meetings (Honduras, Nicaragua, Dominican Republic, Guatemala, Nicaragua, Mexico, Chicago, Miami, Oakland, Washington, DC, Ohio).
• Participated in US local and federal government hearings to introduce policies and programs that contributes to address the needs of for financial services and inclusion, the use of remittances as a tool for development in the LAC region and strengthening financial literacy programs. (Download Advocacy Papers 1, 2, 3)
• Program evaluated and systematized by an external consultant.
• Lessons learned has been used to build the next phase of the promoters project.

PLEASE CONTACT US
Our offices are conveniently located in the heart of Adams Morgan at 1736 Columbia Rd., NW (old Ayuda Office-at the corner of Columbia and Ontario Rd.) For more information please contact Fabio Arroliga, Program Manager at farroliga@fidmi-mitierra.org. You may also call us at (202) 483-8900.