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Press Release: New Legal/Financial Alliance Will Help Sarasota Immigrants Pay for Immigration Reform

Posted: April 11th, 2013 | Author: | Filed under: Jaensch Immigration Law Firm, Sarasota Immigrants | Tags: , , | No Comments »

Download the Jaensch and MCFCU Press Release.

Download the Jaensch and MCFCU Press Release in Spanish.

04/10/13

Sarasota, FL – Preparing for possible immigration reform, Jaensch Immigration Law Firm is building relationships with local financial institutions in order to help area immigrants get access to credit and obtain the funds necessary to pay the associated costs of immigration reform.

We will probably see an immigration reform bill very soon.  The “Gang of 8,” which includes Marco Rubio, is finalizing a bill.  Their plan will most likely include a path to legalization for the 11 million or so undocumented immigrants living in this country.  Applicants will likely have to pay a penalty fee in addition to the normal government fee connected with the application.  The total costs for immigrants and their families are uncertain, but expected to be in the thousands of dollars.  

Jaensch Immigration Law Firm has developed a program with Manatee Community Federal Credit Union that will allow immigrants and their families to begin preparing now for these costs.  In many cases, the immigrant and his or her family may have no credit or tarnished credit.  The new program will enable an immigrant or family member to establish or improve his or her credit score in order to be eligible for future loans.

Under the new joint-initiative, any person with a social security or tax ID number who lives, works, attends school or worships in Manatee County will be eligible to open an account with the credit union and receive a secured loan for $1,000.  The loan proceeds will remain on deposit with the credit union.  During that time, the loan recipient will pay back the loan in full plus interest. 

When the recipient pays off the loan, the proceeds remain as deposit money and he or she will have established a payment history with the credit union.  The recipient may then use the funds to pay for immigration-related expenses and may be eligible for an unsecured loan which could be used for other costs associated with immigration reform.

“We see this as a triple-win for area immigrants,” says Managing Attorney P. Christopher Jaensch.  “Immigrants would establish a relationship with a financial institution that understands their needs and educates them on financial management.  They could build a credit history even if they have had problems in the past.  And they could begin to save and prepare for the costs of comprehensive immigration reform, which could be significant.”

A key participant in developing this partnership is Sherod A. Halliburton, the current EVP of Strategic Initiatives at Manatee Community Federal Credit Union.  “We believe that the immigrant population and their families may be underserved by local financial institutions and we are proud to create a program that improves their ties to the community and helps them achieve their goals,” says Halliburton.

Jaensch Immigration Law Firm seeks other financial industry partnerships to help as many area immigrants as possible. 


Sarasota, FL – Preparándose para una posible reforma inmigratoria, Jaensch Immigraiton Law Firm está desarrollando relaciones con instituciones financieras locales con la meta de ayudar a los inmigrantes de Sarasota y Manatee Counties (MCFCU) a establecer buen crédito y obtener fondos para pagar los costos que llevará la reforma.

Creemos que veremos una propuesta para la reforma esta semana.  El “Gang of 8” grupo de ocho senadores, que incluye a Senador Marco Rubio, está terminando su propuesta  y es muy probable que su plan incluirá un camino hacia la legalización para los indocumentados.  Para ser elegible un solicitante probablemente tendrá que incurrir en pagos de una multa, más los costos de gobierno para tramitar la solicitud.  El costo final para inmigrantes y sus familias no es cierto, pero creemos que será entre los miles de dólares.

Una nueva asociación de Jaensch Immigration Law Firm y Manatee County Federal Credit Union permitirá a los inmigrantes y sus familias prepararse para poder costear los costos de legalización.

Bajo el nuevo programa que han diseñado, cualquier persona con número de seguro social o Tax ID que vive, trabaja, asiste a la escuela, o que está vinculado de alguna forma con el Condado de Manatee será elegible para abrir una cuenta con MCFCU y recibir un préstamo asegurado de $1,000.  Los fondos se quedarán en el credit union por 12 meses y, mientras tanto, el recipiente paga el préstamo más interés.

A punto de pagar el préstamo, las ganancias se quedan como depósito y el recipiente tendrá una historia de pagos con el credit unión.  El recipiente puede usar sus nuevos fondos para pagar los costos relacionados con la reforma inmigratoria y será elegible para un nuevo préstamo.

“Este es un triple-win para inmigrantes,” dice abogado gerente de Jaensch Immigration Law Firm, Chris Jaensch.  “Inmigrantes establecerán una relación con una institución financiera que comprende su situación y les ayuda a manejar bien sus fianzas, forjar buen crédito no obstante problemas pasados, y empezar a ahorrar para los costos asociados con la reforma inmigratoria, que pueden ser significantes.”

Sherod A. Halliburton, EVP of Strategic Initiatives en MCFCU concurre: “Nosotros sabemos que los inmigrantes y sus familias no tienen acceso a los servicios financieros que les corresponde.  Estamos orgullosos de diseñar un nuevo programa que mejorará  sus conexiones con la comunidad y les ayuda a lograr sus metas financieras.”

Jaensch Immigration Law Firm busca asociaciones con otras instituciones financieras locales para ayudar al máximo número de inmigrantes posible.