HERE FOR YOU
ELACC’s financial products and services are wealth-building measures that seek to directly increase the community’s assets and savings in a way that complement our financial education. Take a look below and get connected.
Financial education workshops educate families and individuals on mainstream financial tools, their rights as consumers, and resources that help them build and sustain their assets and wealth. Workshops are provided in English and Spanish. Topics include:
- Introduction to banking products and services
- Benefits of a checking account
- Borrowing basics: Introduction To Credit
- Budgeting: How to Keep Track Of Your Money
- Credit issues and solutions
- Establishing a savings plan
- Understanding consumer installment loans
- Using Credit Cards Wisely
- Your Rights As A Consumer
One-on-one financial coaching provides participants with an in-depth view of their finances. Coaches work with each client to develop and implement an action plan that helps them reach their financial goals. We aim to help participants establish or improve their credit, develop and implement a budget, establish their savings, and provide resources that help them build and sustain their assets and wealth.
Free Tax Preparation (VITA)
Our Volunteer Income Tax Assistance (VITA) program, launched in 2008, provides free tax preparation for low to moderate-income members of the community. Through this program, we can save members money, and ensure that they receive what they are entitled.
A VITA coordinator leads the program with a team of dedicated volunteers certified through the Internal Revenue Service (IRS). In 2017, our team was able to prepare over 550 tax returns, saving families thousands of dollars and ensuring they received the hard-earned money they worked for throughout the year.
Since 2012, we are a founding member of the Eastside Tax Coalition, a group of organizations committed to helping families specifically on the Eastside of Los Angeles. To date, we have helped bring millions of dollars in tax refunds back to the community. Our goal is to have a more significant impact on the Eastside by pooling our resources and coming together with our partner organizations to host VITA sites in communities where services like these are scarce.
Lending Circles is our newest program offered to help participants establish and build their credit through an age-old practice known to many as tandas or cundinas. We have partnered with Mission Asset Fund (MAF) based in San Francisco, CA, together we can provide a zero-interest social loan which helps participants build or improve their credit.
By making monthly payments through direct deposit; transactions are reported to the three major credit agencies (Transunion, Equifax, and Experian) and clients do not have to physically deal with each other’s cash. The enrollment period is ongoing and Lending Circle formations are scheduled the first week of every month.
For any questions, you can contact Rosa Coronado at email@example.com.
Kiva crowdfunds loans for borrowers in more than 80 countries who are often financially excluded and can’t access other fair and affordable sources of credit. In the U.S., Kiva crowdfunds loans for borrowers who are either financially excluded or creating social impact in their communities.
Kiva borrowers work in many industries. They may be farmers, artisans, students, shopkeepers, builders or restaurant owners. Many Kiva borrowers work multiple jobs to generate enough income to support their families.
ELACC helps to vet borrowers whose loans will be crowdfunded on Kiva. If you’re in the U.S. and you’re interested in applying for a loan learn more her.
First-Time Home Buyer Counseling
Our home-buyer counseling program plays a vital role in putting the education that clients receive from our first home-buyer workshops into practice. From creating individualized action plans to providing referrals that set a clear path for families, we help you achieve your dream.
Enroll in our SaverLife Program and receive $10 for saving $20 for a total of 6 months. SaverLife will reward you up to $60 for saving! Get closer to your goal by signing up today.