Information for Individual Savers

About the Hispanic America Saves Campaign

What is Hispanic America Saves?•Hispanic America Saves Campaign is a nationwide campaign in which a broad coalition of Credit Unions, nonprofit organizations, corporations, and government groups helps Hispanic/Latino individuals and families save and build wealth. Through information, advice, and encouragement, the Saves Campaign assists those who wish to pay down debt, build an emergency fund, save for a home, save for the purchase of reliable transportation, save for a small business, save for an education, or save for retirement.

Why Should I Save? •To have available funds for emergencies.•To afford a home, education, investments, or other products that will improve your quality of life.•To start a business.•To afford higher education.•To prepare for retirement.•To gain peace of mind.

Who is an Hispanic America Saver?•Anyone who agrees to better their quality of life by working towards a savings goal such as an emergency expense fund, debt reduction, homeownership, or even retirement. Hispanic America Savers set a monthly savings goal of as little as $10 and then try to save it.

So what does all this cost me? •No money. Your only obligation is to develop a specific savings goal, select a savings account, make a deposit in this account each month (or make a debt payment), and let us know that you are working toward a savings goal by enrolling with Hispanic America Saves through whichever method is easiest.

What membership benefits are available to me at no cost?

• Access to favorable savings and loan products • Spanish speaking loan officers and financial counselors • Free bilingual classes on money and credit management• A quarterly newsletter offering tips on savings, which is mailed or e-mailed to you four times a

year.• Savings seminars at participating businesses.• Access to homeownership workshops, housing counseling, foreclosure prevention assistance,

and savings strategies.• Access to Free Tax preparation services.• Access to Credit Union financial advisers free of charge.

Who controls my savings account?

• You do. Use an existing Credit Union account or open a Credit Union account in your name. We only advise and encourage.

How do I enroll in Hispanic America Saves?

• Simply fill out the attached Savings Goal and submit to Hispanic America Saves, through the mail, fax, telephone or e-mail, or enroll through the internet, as shown in this brochure.

Five Savings Strategies for Savers:

1. The importance of emergency savings-Having an emergency savings fund may be the most important difference between those who manage to stay afloat and those who are sinking financially. That’s because maintaining emergency savings of $500 to $1,000 allows you to easily meet unexpected financial challenges such as:• repairing the brakes on your car• buying your child a new pair of needed shoes• replacing a broken window in your house• visiting a doctor when your child has the flu• covering the dental expense of filling a painful cavity• paying for a parking ticket, or• flying to visit a sick parentThe emergency fund allows you to cover these expenses and gives you the “peace of mind” that you can afford these types of financial emergencies.

2. Learning to manage and reduce large consumer debts are the most important financial reason that people have trouble saving and building wealth. With planning, discipline, patience, and maybe some outside help, anyone can reduce their debts and start to accumulate wealth.

3. Increasing wealth through homeownership-For decades, homeownership has been the main path to wealth for most Americans. Today, home equity - the market value of a home minus the balance on any home loans - represents more than four-fifths of the typical family's wealth. So, each home loan payment not only helps pay down the principal and interest on your home, but also builds your wealth. First, simply by paying off your home loan, you are building wealth. Second, it is highly likely, that the market value of your house will increase over time—on average, four percent annually. Third, the home equity can be used to pay for higher education, start a business, or for retirement.

4. Saving through auto purchases—being able to travel by car can help people earn more, spend less, and get better value in their housing. Cars, however, are relatively expensive to purchase and maintain. American households spend, on average, more than $8,000 dollars on car purchases and maintenance each year. Individuals can reduce this transportation expense by making wise purchase decisions. Our Auto Purchase brochure and videos will assist Savers in making wise decisions in auto purchases.

5. Participate in a work related retirement program. Don’t turn down free money from your employer by signing up for a work-sponsored retirement programs such as a 401k plan.

Sample Hispanic America Saves Enrollment form—English & Spanish

Six (6) Ways to enroll in Hispanic America Saves:

• Mail Savings Goal form to

Hispanic America $aves PO BOX 3027 EL PASO TX 79923

• Call Hispanic America $aves at: (915) 838-SAVE (7283)

• Fax to Hispanic America $aves at

(915) 838-8085

• or login & enroll to:

• At any participating Credit Union

• Through any local Hispanic America Saves Partner

www.HispanicAmericaSaves.org

Sample Brochure Promoting Savings

Sample Spanish Poster to promote Homeownership

HAPPY SAVINGS!!! ¡¡¡FELICES AHORROS!!!