HACU and Freddie Mac offer workshop to HACU Interns on how to manage their money and credit 

Washington, DC – The Hispanic Association of Colleges and Universities (HACU) and Freddie Mac held a two-day workshop on August 2 & 3, 2005 in Washington, DC to participants of the HACU’s National Internship Program (HNIP). 

The workshop supports the partnership between HACU and Freddie Mac in the implementation of the CreditSmart Español initiative, which offers free classes to students, their families, and members of the Hispanic community.  The workshops teach consumer-credit and money management skills, with an emphasis on preparing consumers for the financial responsibilities of homeownership, paying for college, and achieving other financial goals.

The most recent workshop was conducted by Reggie Brandveen, National Manager of Freddie Mac, and Nina Torres, Collegiate Programs Manager of HACU. 

The topics covered over the two-day workshop were:

• Your credit and why it is important
• Managing your money
• Goal Setting
• Banking Services: Why are they important
• Establishing and maintaining your credit
• Understanding your credit score
• Avoiding credit traps
• Restoring your credit
• Planning for your future 

In addition to providing the workshops to HACU interns, workshops are also available at 15 HACU- member institutions located at New York, Miami, New Mexico, Colorado, San Antonio, California, Arizona, Chicago and Puerto Rico. In fact, over the past year, over 2,000 individuals have attended CreditSmart Español workshops at these colleges and universities.  

Hispanics suffer historically low homeownership rates, which led Freddie Mac to expand its trademarked CreditSmart program for U.S. consumers to CreditSmart Español, specifically targeting Hispanic consumers. According to the U.S. Census Bureau, while 68 percent of the nation’s families own homes, less than 48 percent of Hispanic families are homeowners. 

College students today already are burdened with a dramatic rise in higher education costs overall, correspondingly heavy student loan responsibilities and an uncertain employment outlook upon graduation so learning about their credit and how to manage their money will help these students in the future when it comes time for them to fulfill their dreams of homeownership or financial independence. 

For more information on CreditSmart Español, please contact Nina Torres at (202) 261-2090.  HACU’s website is www.hacu.net.  HACU's National Headquarters in San Antonio, Texas, can be reached at (210) 692-3805.