Pulling Hispanic Immigrants Out of the World of Check Cash Stores

Most insurance companies avoid insuring poor farmers because the transaction costs are too high, but a non-profit in Kenya created a sustainable way to cover them.

Poor people are less likely to make smart financial decisions; however, new research in the U.S. says this is not about intelligence but rather about a brain being overwhelmed with issues related to poverty. To combat that barrier of stress, organizations around the world are making financial decisions easier for people experiencing poverty by making borrowing easier and automating future financial planning, like 401(k) contributions.

Funding with too many strings attached makes it hard for non-profits to grow and be impactful. An American organization, Nonprofit Finance Fund (N.F.F.) Capital Partners division, is finding ways to finance non-profits likes companies and has already shown great success in pilot situations.

American humanitarian aid and programs by the United Nations have proved beneficial to equip Middle Eastern refugees with resources for self-settlement outside of camps. The self-settlement model has empowered refugees to become more productive members of society when they return home.

Foreclosure affects millions of homeowners and millions more owe more on their mortgages than what their homes are worth, but Empowering and Strengthening Ohio’s People (ESOP), offers assistance. As a free service to borrowers, ESOP holds lenders accountable with fair lending agreements, creates constructive communication, and ultimately saves homes.

Neighborhood Trust is a New York-based nonprofit offering financial advice to individuals experiencing economic hardships. Providing hands-on coaching, counselors are able to inform their clients about financial options they may have otherwise not known about like college financial aid or child care tax credits.

When immigrant children come to America, they are faced with culture shock, language barriers, and a system of education different from where their original country. Houston’s Las Americas Newcomer School is designed to ease the adjustment of immigrant and refugee children as they enter the American educational system. Las Americas offers competitive wages for teachers, teaching in several different languages, and preparation for the SAT as the school has the highest rate of minority participation.

Refugee camps typically look like a prison with squalid conditions and barbed wire tops. By contrast, the Kilis refugee camp in Turkey is orderly, secure, and clean; has schools for children; has grocery stores, and is powered with electricity. The camp is not run by the United Nations, but rather it is Turkey’s Disaster and Emergency Management Presidency that oversees every detail and pours billions of dollars into maintaining it every year.

A panoply of responses to poverty has emerged to address poverty in the United States and abroad. The responses share in three key tactics: Measuring impact, paying for success, and collaboration.

Immigrants are increasingly settling in the United States, but their cultural adjustments present economic and social challenges. Different states have started welcoming initiatives to aid in foreigners in their transition. Welcoming Tennessee has organized community gatherings and public talks, and has publicized how immigrants can contribute to their new neighborhoods.