Tuesday, April 26, 2011

SABEResPODER and Wells Fargo team up to empower Latinos

Campaign includes financial education guides, video and events, opt-in mobile text message tips and community events across the U.S.

ATLANTA, GASABEResPODER and Wells Fargo & Company (NYSE: WFC) have joined forces to provide financial education to the underbanked in 13 cities through July 1, 2011. The educational campaign includes the introduction to financial literacy and to banking products and services that will help the underbanked succeed financially, ranging from opening a bank account to remitting money overseas to family and friends. The campaign will run in Anchorage, Phoenix, Tucson, Denver, Atlanta, Boise, Saint Paul, Albuquerque, Las Vegas, New York, Portland, Salt Lake City and Seattle.

“SABEResPODER and Wells Fargo have come together to empower Latinos by introducing the key basics of banking that are important to this community,” said Amir Hemmat, president and CEO of SABEResPODER. “We have seen time and time again that education is the key to helping Latinos succeed, and we’re happy to work with Wells Fargo to make this information available.”

Elements of the campaign include financial education guides, video and events, opt-in mobile text message tips and community events across the U.S. Additionally, as a way to encourage the underbanked to begin benefiting from the banking system, Wells Fargo is including an ExpressSend remittance rebate offer in the financial education guide that will be good throughout the campaign.

“At Wells Fargo, we are committed to working together with customers and communities to earn their trust and help them succeed financially,’’ said Daniel Ayala, EVP and head of Wells Fargo Global Remittance Service. “Whether needing to open a basic deposit account or looking for an economical and secure way to remit money to family and friends through our ExpressSend Service, Wells Fargo is here to help. We know; however, financial education is the first step and we are grateful that SABEResPODER is helping us reach Latinos who might not otherwise seek the financial education they need to help them reach their financial goals.”

“Financial literacy has proven to be the most successful development policy tool that increases financial access and helps build assets among migrants and families,” said Dr. Manuel Orozco, Remittances and Development Program, Inter-American Dialogue. “Furthermore, key to financial literacy success lies in choosing the right partner and its methodology. In this sense, the collaboration with SABEResPODER is a positive step toward strengthening an already financially vulnerable community, such as that of Mexican migrants.”

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