OLYMPIA - The Washington State Department of Financial Institutions (DFI) is pleased to announce that one of our financial literacy outreach partners, the Heritage Students In Free Enterprise (SIFE) team, took first place at the 2008 Regional SIFE competition April 2 in SeaTac. The team is now preparing for the SIFE USA National Exposition, May 13-15 in Chicago.
Taking on teams from University of Nebraska at Kearney, University of Alaska Fairbanks, Seward County Community College from Kansas, Oregon State University and Montana State University Northern, the team from Toppenish, WA wowed a panel of judges – proving that you don’t have to go to a big university to be smart about money or business. Many of their competitors packed the presentation room to watch the team from Toppenish.
“When the presentation was over, I could see that judges were very impressed with our work,” Heritage SIFE President Erika Romero said. “Just before the awards ceremony, many judges approached us to let us know that of all the presentations they saw, we were by far the best.”
“We were surprised and happy when we were called up on stage to receive the financial literacy individual competition award,” Romero continued. “Shortly after, we were announced as Champions for the fifth consecutive year.”
The team’s presentation “Change Begins With Us: Real Change In Real Time” outlines how their programs – impacting 6,205 people directly with more than 7,000 volunteer hours -- make a difference in their communities and how they meet the six core criteria for SIFE:
- Market Conditions: Heritage SIFE partnered with Universidad Autonoma Agraria Antonio Narro or UAAAN and started a micro-loan project consisting of growing and marketing organic vegetables and poultry to middle class consumers and businesses, creating a new source of income for 2,500 individuals. It provides an estimated economic impact of $400,000 in Saltillo, Mexico. This project has been adopted by three rotary clubs and has expanded to Central America.
- Success Skills: Heritage SIFE provided several opportunities for geographically isolated students and community members to actively engage in building their professional skills through workshops which include mock interviews, resume writing, dress for success, vocational orientation trips, and dinners that teach proper etiquette techniques. As a result, more than 200 students are more confident and better prepared for future job interviews.
- Entrepreneurship: Heritage SIFE worked with Radio Sol to create 12, 30-minute programs that aired weekly, targeted to new and established Hispanic business owners, emphasizing the importance of having a Business Plan, and tips on how to become successful entrepreneurs from Vancouver to Bellingham. The team’s “Successful Entrepreneurs” program in Yakima caught the interest of potential entrepreneurs in the Seattle area, and with support from The Washington State Department of Financial Institutions, Heritage SIFE will be able to start a new entrepreneur this year in Seattle. The team now educates the majority of Hispanics in the State of Washington.
- Financial Literacy: Another tool Heritage SIFE used to educate people about financial literacy is their “Taller de Ayuda Financiera “ or Financial Management Workshop. In six years the team has taught adults and GED students in the Yakima Valley how the Credit System works. This year they expanded the program by adding the concepts of mortgage and refinancing houses by partnering with local consultants. Heritage SIFE used pre and post tests, as well as testimonials to measure the effectiveness of the program.
- Business Ethics: Heritage University’s SIFE team was one of six Universities nationwide chosen to increase the awareness and effectiveness of the Campbell’s Soup Labels for Education program. Heritage SIFE accepted the challenge and created a contest among five school districts in the Yakima Valley. An active media campaign and a partnership that includes the school districts, a local food bank, and three commercial radio/television networks all support this effort.
- Sustainability: The three components of Heritage SIFE’s model are Membership and Leadership Development, Information and Technology, and Internal and External Support.
Congratulations to the Heritage University SIFE Presentation Team:
- Erik Perez, a junior majoring in Computer Science
- Jorge Soto, a junior majoring in Social Work and Public Relations Officer
- Guadalupe Ruelas, a sophomore majoring in Nursing; Vice-President and Moonjar project leader
- Magali Ambriz, a sophomore majoring in Accounting
- Sherezade Guerrero, a sophomore majoring in Business Administration and project leader for Radio Sol, Radio KDNA, and Piracy
- Yesica Garcia, a sophomore majoring in Business Administration and project leader for Mini-Trumps
- Mercedes Martinez, a sophomore majoring in Business Administration
- Juan Castro, a sophomore majoring in Business Administration
Other SIFE project leaders were:
- Mireya Vazquez, a sophomore majoring in Business Administration; secretary and Financial Literacy project leader
- Diana Ochoa, a senior majoring in Business Administration; Treasurer and Best Buy project leader
- Maribel Madrigal, a junior majoring in Business Administration and Campbell's Soup project leader
- Erika Romero, a senior majoring in Accounting and Finance, SIFE President
“DFI is proud to sponsor Heritage SIFE,” DFI Director Scott Jarvis said. “Their devotion to increasing financial literacy and making Washington a better place to live and work – starting with their own community – is an admirable goal DFI supports wholeheartedly.”
DFI wishes the team well and looks forward to supporting the group’s future financial literacy outreach programs and events.