Author Topic: Consulates helping Mexicans open bank accounts, start businesses in the U.S.  (Read 124 times)

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Consulates helping Mexicans open bank accounts, start businesses in the U.S.
Texas

Mexican consulate in El Paso schedules online financial literacy forums so its citizens can make the best of stay in the U.S.

by: Julian Resendiz   
Posted: Jun 10, 2021 / 03:12 PM CDT   / Updated: Jun 10, 2021 / 03:14 PM CDT   

EL PASO, Texas (Border Report) — Mexican consulates are doing their part to reduce the unbanked population in the United States, which has been coming down dramatically in the past few years.

The consulates in El Paso and other U.S. cities next week will be sponsoring online seminars and inviting bank executives, Internal Revenue Service and Social Security Administration officials to educate Mexican immigrants on the basics of obtaining documents needed to open bank accounts.

“One of the benefits of having an account is getting credit to buy cars and property in the United States, having your money safe and sending money to (relatives) in Mexico,” said Adriana Martinez, consul for community services in El Paso.

The Federal Depositors Insurance Corporation says an estimated 5.4 percent of households in the United States were unbanked in 2019, meaning no one in the home had a savings or checking account. That’s down from 8.2 percent in 2011 and 7 percent in 2015. Hispanics and African Americans, though, have much higher rates at 12.2 percent and 13.8 percent, respectively.

https://www.borderreport.com/regions/texas/consulates-helping-mexicans-open-bank-accounts-start-businesses-in-the-u-s/