Some 620 people a day are currently deported from the United States, according to data released by Immigration and Customs Enforcement. Many of these individuals are parents, as indicated by a Pew Research Center study. Although not all of them are Mexican, government organizations and financial institutions from Mexico are concerned for their citizens’ wellbeing – particularly how they are economically impacted – when deportation occurs.
This is evidenced by the continuous actions and efforts taken by the part of consulates that aim to provide guidance to the immigrant community.
The Consulate General of Mexico in Atlanta, for example, recently held a Financial Education Week, which was led by representatives and officials from government organizations and financial institutions. Among them were leaders from the National Commission to Protect and Defend Financial Services Users, the National Commission for the Retirement Savings System and the Protection of Savings and Banking Deposits.
At the event, officials spoke with Mexican citizens in attendance and encouraged them to save, invest in their retirement and to take advantage of the diverse resources offered to expats, such as the AFORE application, which can be used while living in the U.S. to move money between accounts and for investment purposes.
“We are forming part of the effort being realized by the 50 consulates, which is Financial Education Week, in the United States and Canada. We are a commission that oversees the balance of relationships between financial institutions and their users,” explained Celestino Rodríguez, Executive Secretary of CONDUSEF.
Attendees had the opportunity to inquire about topics including: how to apply for a mortgage in Mexico while residing in the U.S. and how to open banking accounts without certain types of identification.
Representatives present at the event urged attendees to utilize the AFORE mobile app, as well as they reiterated the importance of saving and investing in one’s retirement.
For these leaders, the current political climate is not the only point of concern.
“What worries us most is when people reach retirement age and they don’t have sufficient resources to enjoy it. We want people to save so they can be in their prime during retirement,” said Sergio Hernández, Assistant General Director of CONSAR.
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