Financial Literacy & Asset-Building
Financial literacy education and asset-building services are the gateway to economic self-sufficiency and integration for all people living in poverty, including immigrants. If low-income St. Louisans do not understand how to manage their finances, including budgeting, saving and investing, they will never achieve self-sufficiency. They will be forever dependent, if they cannot be taught to save, thereby building equity in a home or car, savings and investments, or a small business.

The International Institute helps immigrants build assets by matching their savings to a pre-stipulated goal. Then program graduates can buy or repair a home, pay tuition for post-secondary education or training, buy a car, or start or expand a small business.

From 2000-2008, our Individual Development Account (IDA) Programs helped 511 immigrant families with matched savings totaling $901,000. More than 100 people used their assets to buy homes. IMPLAN economic impact software results, calculated by the St. Louis Regional Chamber and Growth Association (RCGA) set the economic impact of our asset- building program at $2.6 million for 2008 and $12.2 million cumulatively.

Participants also learn about predatory lending practices and become aware of financial opportunities and pitfalls. After achieving financial literacy and learning about sound saving habits, clients can explore how starting a business would be of benefit to them.

Contact Information:

Nha Nguyen
314-773-9090 ext. 133