This Spring, the Cisneros Center is partnering with several nonprofit organizations and Tyson Foods to offer workplace education to immigrant and migrant workers at the Randall Rd. Plant. This novel program allows workers to access services that help them improve their lives and increase their independence.
Arvest Bank is one of the organizations participating in the Workplace Education Program. They will be offering workshops in financial literacy. Read our interview with Anna Norris, Assistant Branch Manager at the Arvest Bank on East Robinson and Butterfield Coach Rd in Springdale, AR. Anna Norris speaks Marshallese and often works with Marshallese clients.
What are some challenges you've noticed that New Americans face when it comes to finances?
Many of them, if they are from other countries, don’t know or are suspicious of what a bank is or what it can do for them. At the bank we try to help them personally. From personal experience I’ve noticed that several of my Marshallese customers don’t know the differences between a checking and savings account. So I’ll try my best to explain, in Marshallese, the differences between the two when they first come in to open an account. Some of my associates and I notice that whenever they only open a savings account, they end up using it like a checking account, where they withdraw more than they should each month. This causes them to have a fee on their account. I’ve also noticed customers don’t know what a credit score is and don’t how they can start building or establishing credit. This is something that is important especially when purchasing a home or car so I tell them the basics of how they can do that and how we at Arvest can help them.
Are you excited about Arvest's role in the Workplace Education Program at Tyson Foods?
I am very excited about Arvest’s role in the Workplace Education Program at Tyson Foods. Our participation is new to the program, so new that we haven’t yet been able to teach a class but hopefully we will start in a couple of weeks. Our goal in the program is to provide basic financial literacy and practice to the participants to teach them how a bank can help them with all aspects of their life. We explain the basics: checking, savings, how to balance a checkbook, differences between a debit and ATM card, what a credit card is, how to build credit, and what mortgages and loans are. Arvest’s mission statement is “People helping people find financial solutions for life”. With our participation in this program I believe we can represent our mission statement and help as many people as we can.
Posted on 04/29/2016 at 10:26:00 AM