Expansion of a Financial Education and Family Asset Protection Program for Latinos in Rural Minnesota

Abstract

The University of Minnesota Extension, in partnership with the Consulate of Mexico in Saint Paul, Minnesota, expanded the Ventanilla de Asesoría Financiera -Financial Education and Family Asset Protection Program to serve families in rural areas. The financial education services were expanded to 25 rural counties in Minnesota during 2017 and 2018. Participants were primarily low-income Latino families of Mexican ancestry. The program consisted of financial literacy education workshops and one-to-one meetings to build and protect participant assets. Participants reported an increase in their confidence in five financial core topics. Conditions for the success of this program were (a) the existing trusted and respectful relationships between the educators and participants and supportive community partners; (b) a family-based educational approach; (c) a team of bilingual, bicultural educators; and (d) culturally adapted and relevant Spanish language educational resources