Diageo & NCLR to provide Financial Education Services to the Latino Community.

Diageo announced the 2008 launch of the Estamos Unidos con un Proposito – (We Are United with a Purpose) campaign, and its partnership with the National Council of La Raza (NCLR). Diageo’s brands will donate $0.35 for each 750ml purchased, up to $250,000, to improve financial literacy among Latinos in the United States.

The partnership enables NCLR’s network of local organizations to provide free-of-charge financial education seminars as well as an informational hotline where consumers are able to access additional financial resources. Consumers who call the toll-free hotline can learn about the date, time, and location of the seminars and will receive a bilingual financial education audio CD.

“Diageo‚s donation has helped NCLR provide free local seminars that are being offered beginning this month through May 2008,” said Kelly Killian, Multicultural Marketing Director for Diageo. “We encourage Latinos throughout the country to call 1-866-842-3391 to learn more about local financial resources available and to obtain a free copy of the educational audio CD.”

Entering its third year, We Are United with a Purpose is an integrated multi-brand campaign incorporating various promotional elements that include radio and print advertising, bilingual point-of-sale materials, integration in the NCLR website, a bilingual audio CD, and the 1-866-842-3391 informational hotline. Following last year’s campaign, which focused on helping Latinos achieve homeownership, Diageo and NCLR learned there was a growing need to educate Latinos about the principles of personal finances. This year’s cause-marketing campaign will reach 25 markets between February and May 2008.

“lLearning about financial institutions in the United States can be intimidating to foreign born Hispanics,” said Blaire Borthayre, a specialist in tax preparation and financial services for Latinos, who is assisting Diageo and NCLR with the campaign. “This program ensures that consumers get help in navigating the path of financial terminology and concepts.”

Lautaro Diaz, NCLR Vice President for Housing & Community Development explains “As an advocate for the Latino community, NCLR is delighted to reunite with Diageo for the We Are United with a Purpose campaign. Financial education plays a pivotal role in the economic future of Latinos in the United States. Our partner organizations‚ expertise and willingness to service the community is critical to reaching Hispanics in the areas in which they live and work. Seminars will be offered in both English and Spanish.”

Participating local NCLR partner organizations offering financial education seminars include:
– Phoenix, AZ: Chicanos Por La Causa, Inc. (CPLC)
– Los Angeles, CA: East LA Community Corporation (ELACC)
– Denver, CO: Del Norte NDC
– Chicago, IL: The Resurrection Project
– Atlanta, GA: The IMPACT! Group
– Miami, FL: Cuban American National Council, Inc. (CNC)
– New York, NY: Committee for Hispanic Children and Families, Inc. (CHCF)
– Union City, NJ: Cuban American National Council, Inc. (CNC)
– El Paso, TX: YWCA El Paso del Norte
– Houston, TX: Tejano Center for Community Concerns (TCCC)

NCLR research shows that many U.S. Latinos remain disconnected from financial institutions and lack basic financial knowledge such as checking and savings accounts and/or credit history. “A study by the Center for Community Capitalism highlights that twenty-two percent of Hispanic borrowers had no credit score compared to four percent of Caucasians and three percent of African Americans. To help bridge this gap, the financial education seminars will address key topics including savings, building a credit history, and tax preparation,” said Diaz. “These topics are also covered on the bilingual audio CD created for those unable to attend the seminars.”

“Community support and social responsibility within the communities we operate has been at the heart of this initiative since the beginning,” concluded Killian. Over the last three years, the We are United with a Purpose campaign, in partnership with national, reputable organizations such as NCLR, will have invested nearly three-quarters of a million dollars to helping improve the lives of Hispanics throughout the United States.