Deutsche Bank today announced the five neighborhood networks selected by the Deutsche Bank Americas Foundation to receive $1.5 million in grants over the next three years as part of the Anchoring Achievement in Mexican Communities Initiative. The project was informed by a Community Service Society report commissioned by the Foundation that portrays a perfect storm of economic stagnation for one of the city’s fastest growing populations.
According to the report, titled “Young Mexican-Americans in New York City: Working More, Learning and Earning Less,” Mexican and Mexican-Americans work at the highest rates of all Latino and immigrant groups, but in the lowest paying service fields. Median salary for full-time, year-round Mexican workers in New York City is $20,800, compared with a citywide average of $42,000. Related, the report shows that 70 percent of the City’s Mexicans qualify as poor or near-poor. With rates of school engagement and degree attainment among the lowest of all Latino groups – only 37 percent are enrolled in high school, while nearly 50 percent lack a high school diploma – many Mexican and Mexican-American students do not find themselves on a strong and well-supported educational path that can lead to higher earnings. The Initiative aims to help raise awareness of these issues and to foster the long-term education and economic well-being of the City’s Mexican immigrant community.
Chosen through a competitive application process, the five neighborhood networks will bring together nonprofit organizations, schools, libraries and other community institutions to form educational services hubs designed to ensure greater student and parent engagement, and improve academic performance and employment prospects.
The networks, which are expected to directly reach more than 3,500 children and youth over three years and offer extended support to their families, will focus on:
“Over centuries, immigrants have made countless contributions to the growth of the local and national economy. The Mexican immigrant community in New York City is strong and vibrant, but also faces incredible barriers,” said Gary Hattem, President, Deutsche Bank Americas Foundation. “We are proud to invest in efforts that support this group’s pathway to success, and of our long-term commitment to the five neighborhood networks and the families they will serve.”
“I applaud Deutsche Bank Americas Foundation’s commitment to the Mexican-American community. These kinds of partnerships between schools, non-profits, and community-based groups are the best way to ensure our families get the comprehensive support they need to succeed. As Chair of the Immigration Committee, I will work to replicate and bring locally-based initiatives like this to immigrant communities across the City,” said NYC Council Member Carlos Menchaca.
As part of the Initiative, The Deutsche Bank Americas Foundation is partnering with the Metropolitan Center for Urban Education at New York University, the Youth Development Institute, and Institute for Mexican Studies at the City University of New York.
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