Building Economic Resilience through Financial Wellness in Latino and Immigrant Communities

The National Association for Latino Community Asset Builders (NALCAB), with generous support from the Wells Fargo Foundation, is offering capacity building grants of $30,000 and customized technical assistance to 10 organizations. This program prioritizes organizations located in Wells Fargo’s priority geographic markets. The primary purpose of this award is to support a nationwide network of Latino- and immigrant-serving organizations to advance culturally relevant approaches to family financial health in low- and moderate-income Latino and immigrant communities. This aligns with the foundation's mission by strengthening the delivery of financial capability services within these communities. The target beneficiaries of this program are Latino- and immigrant-serving organizations, and ultimately, low- and moderate-income Latino and immigrant communities. The program aims to achieve several impact goals, including integrating culturally relevant financial curricula into asset-building programs like homeownership and small business development services, intentionally utilizing financial coaching to prepare participants to access capital for asset-building activities, and improving organizational capacity to track and report financial health outcomes. The program focuses on several key priorities to achieve its goals. These include integrating culturally relevant financial curricula, utilizing financial coaching, improving organizational capacity to track and report financial health outcomes, and prioritizing access to innovative financial products. The financial health outcomes specifically target improving credit, increasing savings, increasing income, and reducing debt. Innovative financial products are also prioritized to boost family financial wellness, with a focus on increasing savings, decreasing debt, or building or establishing credit. Expected outcomes and measurable results include meaningful and measurable impact and change for Latino and immigrant financial health. This will be demonstrated through a comprehensive and specific strategy. The program also expects to strengthen the delivery of financial capability services through grantmaking, technical assistance, and training. The grant period is from October 1, 2024, to June 30, 2025. Eligible applicants are 501(c)(3) nonprofits that integrate, or plan to integrate, culturally relevant financial capability services into existing asset-building programs.