Nominations now open to honor New Mexicans creating and implementing innovative financial education strategies.
The Nusenda Foundation today announced the launch of its new Financial Education Innovator recognition program, which aims to showcase those in the community who are dedicated to increasing economic mobility and stability for their fellow New Mexicans.
The Nusenda Foundation is accepting nominations to recognize those who are creating and carrying out innovative education strategies that improve financial well-being in their communities. These innovators can be from diverse backgrounds, such as community organizations, nonprofits, education, and government sectors.
A strong financial education has been shown to have a positive effect on the economic well-being of individuals and their families; and also predicts future healthy behaviors around savings, credit card usage, spending, and risk, said Nusenda Foundation Executive Director Robin Brulé.
“Every day, there are dedicated New Mexicans who are devoting their time and energy to help our state rise and succeed together. Our aim is to serve as a trusted financial resource by investing in, and working with, partners who strive to improve financial well-being in the communities where we live, work, and play,”Brulé said.
“This recognition program honors and celebrates those who join us in this mission of positively impacting the lives, careers, and futures for generations to come in the Land of Enchantment.”
Despite improvements in the national economy, 44% of New Mexico households are still in a persistent state of financial insecurity, which means that if faced with an emergency, they lack adequate savings to cover basic expenses for three months. Prosperity Now, a public policy organization in Washington, D.C., ranks New Mexico 50th in income poverty and 43rd in the number of unbanked households.
Specifically in Albuquerque, nine of its 11 ZIP codes have a poverty rate greater than the national average, with some approaching 2½ times that rate. Of the more than 222,000 households in the Albuquerque, about 40 percent of them earn less than $42,000 annually, and 22 percent of families with children in these areas live in poverty.
The Nusenda Foundation is known statewide and nationally for fostering partnerships that tackle these challenges. In 2016-2017, it provided more than $2.5 million in community and financial impact and in-kind support that was instrumental in helping organizations in need. The Foundation also oversees large grants coming into New Mexico communities that provide resources for entrepreneurs, education, and community development projects. It is also the recipient of grants from Living Cities, Bloomberg Philanthropies, the W.K. Kellogg Foundation, the McCune Charitable Foundation and the Albuquerque Community Foundation.
In 2017, the Foundation was named one of 10 winners of the HUD Secretary’s Award for Public-Philanthropic Partnerships for its role in supporting the Albuquerque Living Cities Integration Initiative, a cross-sector partnership focused on accelerating job creation and economic mobility in Albuquerque.
Nominations are now being accepted; recipients will receive Nusenda Foundation support to help develop or grow their initiatives. For more program information, or to nominate a Financial Education Innovator, visit www.nusendafoundation.org/innovators.
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