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josé quiñonez mission asset fund
José Quiñonez of the Mission Asset Fund wanted to help 1,000 Dreamers get loans to pay the $495 fee to apply to extend their temporary legal status.
At the end of the lending circle, Marquez had the money she needed for the fee and had established a credit score.
Those who were already enrolled in the program had just one month to submit their renewal forms to immigration services to remain in the U.S. Quiñonez and his team mobilized quickly to come up with the application fees for many of those individuals.
“I didn’t think it was attainable,” Marquez said. José A. Quiñonez is a financial services innovator creating a pathway to mainstream financial services and non-predatory credit for individuals with limited or no financial access. José Quiñonez, who came from Mexico in 1980 as an undocumented immigrant, founded Mission Asset Fund to help low-income people get affordable loans.
Deirel Marquez, 24, joined one of Mission Asset Fund’s lending circles as a college student and a “Dreamer,” a young, undocumented immigrant who was brought across the border illegally from Mexico to California by her parents when she was a child. They introduce lending circles to their own communities. This type of savings club is called a lending circle. Developing a model for establishing the creditworthiness of underbanked populations that is affording them a pathway to mainstream financial services and improving their financial stability. Over the past decade, Mission Asset Fund has issued close to $10 million in loans and licensed its software to dozens of nonprofits in 20 states. “This sabbatical will help me reflect, breathe and get ready for many more years of building financial fairness for hardworking families.”. It’s now working with state Sen. Steven Bradford, D-Gardena (Los Angeles County), to introduce a bill in the Legislature that would channel $1 million from fines and penalties paid by high-interest rate lenders who break California law into supporting nonprofits that provide financial education and coaching services to working families. “We’re building an economy of respect, and that gives me great energy.” It’s also challenging work, particularly given Mission Asset Fund’s tremendous growth from a local organization into a national model. For his work helping others, Quiñonez is one of six finalists for Visionary of the Year, an annual recognition by The Chronicle of Bay Area leaders whose work improves the world. He founded Mission Asset Fund in 2007 and continues to serve as CEO. A decade later, though, Quiñonez sees that his community requires more of him in today’s political environment. Sabbaticals recharge high-performing executive directors and advance leadership capacity throughout their organizations. The siblings, ages 7 to 15, were split up among their San Jose relatives, but remained determined to one day reunite under a single roof. Improving people’s financial footing is still central to the goal of Mission Asset Fund. The idea had its roots in those first years in the U.S. Under his leadership and vision, he quickly built the organization into an award-winning nonprofit with an innovative nationwide model for integrating financially excluded, low …
José Quiñonez, who came from Mexico in 1980 as an undocumented... After the death of their mother and father, José Quiñonez and his five siblings walked for hours in the dark and crawled through a drainpipe leading from Mexico to California — where they would live with family in San Jose they had never met.
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