UnidosUS Financial Empowerment Network

UnidosUS is one of the largest Latino civil rights organizations in the U.S. Its Financial Empowerment Network includes local partners that offer:

• Help opening checking or savings accounts
• Budgeting support and credit counseling
• Workshops on debt, saving, and homeownership

Services are available in Spanish and may be offered through trusted nonprofits near you. You can search for programs by state on their website.

The Hispanic Federation Financial Literacy Workshops

The Hispanic Federation partners with local organizations to offer free financial education programs. These workshops cover:

• Banking basics and avoiding fees
• Building or repairing credit
• Planning for emergencies

Some locations offer one-on-one financial coaching or tax help.

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Bank On Program

Bank On helps people access safe, low-cost bank accounts. These accounts are offered through local banks and credit unions that meet national standards:

• No overdraft fees
• Low or no monthly fees
• Easy access with a debit card and online banking

Financial Counseling Through Consulates

Many South American consulates in the U.S. offer financial guidance as part of their community outreach. Services may include:

• Help understanding how U.S. banking works
• Referrals to nonprofit financial counselors
• Workshops on saving, budgeting, or building credit

Consulate programs often focus on immigrants’ specific needs, such as sending money safely to family or avoiding scams. Check your home country’s consulate website or visit the EmbassyPages directory to find local services.

Remittances and Family Support

Many immigrants send money to loved ones in South America. While these remittances are important, they can take up a large part of your income. It’s easy to fall behind on rent or bills while trying to meet family needs abroad.

Adapting to U.S. Cost Structure

From health insurance to housing, the cost of living in the U.S. is often higher than in South America. New arrivals may be surprised by expenses like:

• Medical bills or copays
• Security deposits and rent increases
• Transportation (car insurance, gas, public transit)
• Childcare or school fees

Understanding these costs early on can help you plan and avoid going into debt.

Professional Licensing and Education Costs

Some immigrants need new licenses or additional education to return to their field in the U.S. This can be expensive, especially for jobs in healthcare, engineering, or law. Many also pay for English classes or GED programs.

If this is part of your plan, look for scholarships or free training through local nonprofits, libraries, or programs like Upwardly Global.

Budgeting After Inflation and Instability

In some South American countries, high inflation or currency instability has shaped how people manage money. These habits may not always translate well in the U.S.

For example, people may:

• Avoid banks and keep cash at home
• Spend money quickly before prices rise
• Rely on informal savings groups

In the U.S., using a bank, tracking expenses, and saving regularly—even in small amounts—can help build long-term financial security.

Building Credit History in a New System

In the U.S., your credit history affects more than just loans. It can impact your ability to rent housing, get a job, or open utility accounts. But many immigrants arrive without any credit at all.

Here are a few ways to start building credit:

• Apply for a secured credit card: These require a cash deposit and help establish a payment history.
• Use ITIN-friendly lenders: Some credit unions and nonprofits report payments to credit bureaus, even if you don’t have a Social Security number.
• Join a lending circle: Programs like Mission Asset Fund’s Lending Circles report on-time payments to build your score.

Documentation Hurdles

Opening a bank account or applying for credit often requires documents that some immigrants don’t have. But many banks and credit unions accept alternative forms of ID. These may include:

• An ITIN (Individual Taxpayer Identification Number)
• A passport or consular ID (like a matrícula consular)
• Proof of address such as a utility bill or lease agreement

Some banks, especially those in the Bank On network, are more flexible and immigrant-friendly.

Remittance Integration

Many immigrants regularly send money to family in South America. Some banks and credit unions now offer remittance services directly through your account, which can be easier and safer than using a store or app.

Benefits can include:

• Lower fees
• Better exchange rates
• Safer tracking and security

If you’re comparing banks, ask if they offer remittances as part of their account services.

Social Media Job Offer Scams

Some scammers post fake job ads on WhatsApp, social media, or other platforms. These offers may promise high pay, remote work, or legal help with work papers—but they often ask for money upfront or personal details.

Red flags:

• You’re asked to pay for an interview, training, or uniform
• The offer sounds too good to be true
• The employer refuses to give details in writing

Never pay to apply for a job. Real employers don’t charge to hire workers. If something feels off, trust your gut and walk away.

Affinity Investment Scams

Scammers sometimes use cultural or religious connections to gain trust and promote fake investments. They may claim to be part of your community or use shared language or values to seem credible.

Watch out for:

• Promises of guaranteed returns
• Pressure to invest quickly
• Lack of written information or legal documents

Before you invest, take time to check the company’s name, read reviews, and talk to someone you trust. You can also verify licenses through FINRA’s BrokerCheck.

Fraudulent Immigration Services

Some people pretend to be lawyers or “notarios” and offer immigration help for a fee. They may take your money and disappear—or file incorrect paperwork that harms your case.

How to stay safe:

• Only work with a licensed attorney or a nonprofit recognized by the U.S. Department of Justice
• Never sign blank forms
• Always get a copy of anything you submit

You can find trusted legal help through sites like immigrationadvocates.org.