NPHS’ Economic Inclusion programs work together to assist underserved consumers to access, obtain and build assets that create pathways for achieving family self-sufficiency and economic mobility. As a Community Development Financial Institution, NPHS believes that economic inclusion – the opening of asset-building opportunities for underserved social groups – is integral to the economic and housing development of our region. If underserved people are given a chance to access, obtain, and build concrete and tangible assets, such as savings or a home, they are more likely to participate in the workforce, pursue education or engage in other activities that help them achieve self-sufficiency and economic mobility. For these reasons, NPHS has developed the Economic Inclusion Program, an asset-based approach consisting of programs and services focused on the long-term economic development of individuals, families, and communities. Click here for more information.

Somos Familia

Somos Familia is an economic inclusion program focused on educating Hispanic consumers about ways to become fully integrated into the banking system, and directly linking them to safe, affordable financial products and services. Somos Familia is specifically designed to empower unbanked Hispanic families and individuals to gain access to mainstream banking services that assist in sustainable wealth building. By providing participants with information, skills, and resources necessary to improve their financial condition, Somos Familia builds on the strengths of Latino communities by cultivating the values of self-sufficiency, upward mobility, and long-term security. Click here for more information.

Financial Wellness for Homeownership

Financial Wellness helps consumers improve their understanding of financial concepts and services and take action to improve their financial well-being. Through the development of real-life financial skills, the program empowers individuals and families to be financially responsible as wealth builders, homeowners, investors, citizens and members of the workforce. Click here for more information.

Financial Wellness for Seniors

Older adults are vulnerable to a number of financial threats, including fraud, identity theft and financial elder abuse. Combine these threats with the challenges of living on a fixed income and it becomes clear that financial and computer literacy is a necessary skill for seniors. Financial Fitness for Seniors helps older adults gain an understanding of financial literacy, recognize risk factors for exploitation and learn to make more informed financial judgments. For many disadvantaged, older adults, the path to economic security begins with basic money management. Learning how to budget, avoid scams, navigate the internet, apply for benefits and manage prepaid debit cards can help them stay secure and independent longer. Click here for more information.

Financial Wellness for Retirement

Families of color were already trailing their White peers in retirement savings. Then the coronavirus pandemic hit, adding a further hurdle to retirement planning for minorities in the U.S. More than 60% of Hispanic households are at risk of being unable to maintain their current standard of living in retirement, along with 54% of Black families and 48% of White households, according to the latest available data from the National Retirement Risk Index calculated by the Center for Retirement Research at Boston College. And according to the National Black Chamber of Commerce, African American entrepreneurship and college graduation rates are both on the rise; however, even as these rates increase, people of color still have less saved for retirement than the rest of the population.

NPHS is working with Financial Institutions to link families of color to resources to help them prepare for retirement adequately. Click here for more information.