In the vibrant city of Jacksonville, Florida, one of our most rewarding missions is to provide financial services that empower and uplift our diverse communities. Among these communities, the Hispanic population plays a crucial role in the cultural and economic tapestry of our city. As a Juntos Avanzamos Credit Union, we have the honor of witnessing firsthand the impact of providing financial services to the Hispanic community.

community statistics

• 11.3% of the Jacksonville population identify as LatinX or Hispanic

• 1 in 4 Floridians are of Hispanic descent

• Hispanics account for 29% of consumer buying power in Florida

Understanding the Financial Struggles

Before we dive into the positive impact, let's take a moment to understand some of the unique financial struggles that members of the Hispanic community in Jacksonville may face:

For many Hispanic residents, English may not be their first language. This language barrier can make it challenging to access financial services, understand complex documents, or communicate effectively with financial institutions. Some individuals in the Hispanic community may be unbanked or underbanked, meaning they have limited access to traditional banking services. This can result in a reliance on costly alternative financial services such as predatory check cashing services. Immigration status can be a significant factor affecting financial stability. Undocumented individuals may face additional challenges in accessing certain financial resources or services. Financial literacy is a universal need, but it may be particularly essential for those who are navigating a new financial system in a new country. Lack of financial knowledge can lead to poor financial decisions.

The Impact of Providing Financial Services

Now, let's shift our focus to the positive impact of providing tailored financial services to the Hispanic community in Jacksonville:

Empowerment Through Education

Financial educators such as Alive’s team of Financial Wellness Coaches, play a vital role in equipping members of the Hispanic community with the knowledge and skills they need to make informed financial decisions. This empowerment can break down barriers and create a path to financial stability.

Building Trust

By establishing trust and fostering relationships within the community like at the upcoming Viva La Fiesta event, Alive is able to encourage more individuals to utilize banking services, reducing their reliance on costly alternatives.

Access to Affordable Services

Offering affordable and accessible financial services can make a significant difference in the lives of Hispanic residents. This includes providing our free and low-fee banking options, affordable and non-discriminatory loans, and savings programs.

Financial Inclusion

Ultimately, the goal is financial inclusion. By ensuring that all members of the Hispanic community have access to mainstream financial services, we create a more equitable and prosperous city for everyone.

In conclusion, providing financial services to the Hispanic community in Jacksonville goes beyond banking; it's about building bridges to financial stability and success. By understanding the unique challenges faced by this community and tailoring our services to meet their needs, we can make a lasting impact on the lives of our Hispanic neighbors. Together, we can work towards a more financially inclusive and prosperous Jacksonville for all.

Sources: COJ.net, hispanicunity.org, pewresearch.org

Juneteenth (also known as Freedom Day, Jubilee Day and Liberation Day) is a holiday commemorating the end of slavery in the US. This day is celebrated annually on June 19th, by putting together educational events, speeches, religious services, family gatherings, picnics, and festivals with food, music, and dancing.

As always, your ACU Cultural & Diversity Committee would like to celebrate the diversity of our team and especially the significance of this day of remembrance by sharing some knowledge specific to the importance of this holiday.

Did you know?

48 of our 50 States recognize Juneteenth as a State Holiday or a special day of observance. In particular, Florida Statue 683.21 designated Juneteenth Day a holiday in 1991.

History

In 1863, during the American Civil War, President Abraham Lincoln issued the Emancipation Proclamation, which declared more than three million slaves living in the Confederate states to be free. More than two years would pass, however, before the news reached African Americans living in Texas. It was not until Union soldiers arrived in Galveston, Texas, on June 19, 1865, that the state’s residents finally learned that slavery had been abolished. The former slaves immediately began to celebrate with prayer, feasting, song, and dance.

The following year, on June 19, the first official Juneteenth celebrations took place in Texas. Within a few years, African Americans in other states were celebrating the day as well, making it an annual tradition. Celebrations have continued across the United States into the 21st century.

A note from the writer:

Thank you for your support of our committee and your commitment to our diverse credit union team. We hope this post was informative and inspires you to educate and celebrate with your friends and family. I hope I did this critical information justice, but if there is anything in this content that is inaccurate or deemed offensive in any way, please contact me immediately for an open-minded conversation.

Respectfully,

Christian Pagan

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Sources:

• Encyclopedia Britannica

• National Museum of African American History & Culture | Smithsonian

• Congressional Research Service

• The Florida Senate | MyFloridaHouse.gov