Business Transformation | 01.28.26
BISA Rising Stars: Financial Literacy in The Latino/Hispanic Community
by: Scotia Blakey
Annually, BISA proudly recognizes a group of “Rising Stars” who are committed to fostering inclusivity and equity within our industry and the communities we serve. The Rising Stars Class of 2025 built upon the foundation set by past cohorts by engaging in a capstone project focused on improving financial literacy in underserved markets.
The overarching goal was to better understand the challenges these communities face, develop actionable solutions, and design a sustainable model for ongoing financial education. To maximize impact, the Rising Stars split into three teams, each addressing the unique needs of a specific community.
They delivered their findings in late August and are now excited to share these insights with a national audience — hoping to inspire collective action toward closing financial literacy gaps, one community at a time. In this capstone recap, Scotia Blakey recaps the project "Financial Literacy in The Latino/Hispanic Community" presented by her group: R.G. Florey, Medisa Brkic, Scotia Blakey and Luz Sandoval.
Can you give a brief rundown of the goals of the capstone project?
Scotia Blakey (SB): Our capstone project focused on the Hispanic immigrant community, particularly those new to the U.S., who often face challenges such as unfamiliarity with building credit in the American financial system, saving for new expenses and a general mistrust of financial institutions due to cultural and language barriers.
The core focus was to identify gaps in financial literacy within this market and develop strategies to address these shortcomings. Our primary goals were to enhance the understanding of financial literacy needs in the Hispanic immigrant community, develop actionable strategies to improve educational resources and create a sustainable model for ongoing financial empowerment.
How did this project come about?
SB: Personal experience within our group led to our interest in the Hispanic immigrant community. Our initial needs analysis then uncovered the tremendous difference an increase in financial health and well-being will make in this community. A high rate of Hispanic adults are unbanked and Hispanic workers lag in retirement plan participation. Yet, Hispanics have an impressively large labor force participation rate and will make up a large percentage of new homeowners in the next couple decades. The business case for increased financial education and resources for this community is clear.
What challenges is the capstone project aiming to help?
SB: While preparing and researching our project topic we detailed pivotal moments in Latin American economic history that deeply eroded public trust in banks and financial institutions. We began in 1987 with Alan Garcia’s nationalization of all private banks in Peru, then highlighted The Collor Plan of Brazil in 1990 when President Fernando Collor de Mello froze all bank accounts over $50,000 cruzeros for 18 months. We explored the Peso Crisis of Mexico in 1994 where a sudden devaluation of the peso led to soaring interest rates and loan defaults. The Corralito of Argentina in 2001 continues the story as the Argentine government limited cash withdrawals to 250 pesos per week. We ended with the more recent Venezuelan hyperinflation during which peoples bank balances became meaningless as the currency lost 99%+ of its value.
Rebuilding trust requires time and consistency. We aim to continue this process with educational videos for the curious Hispanic immigrant as well as training for employees that connect with and serve this population throughout their lives.
Can you share the project results and deliverables?
SB: Our team developed a bilingual educational video aimed at bridging the trust gap and guiding the community toward resources to improve financial literacy. Team members contributed based on their individual strengths, fostering collaboration and diverse perspectives. We are proud of the final product and the foundation it lays for future initiatives but even more proud of our relationships built along this journey.
What is something that you learned or that surprised you as you participated in this project
SB: The technical aspect of putting together a bilingual educational video using multiple artificial intelligence platforms was completely new — we live in an interesting time! Far beyond those learnings is my love for being with individuals from different parts of the financial services industry, backgrounds separate from my own, and creating something meaningful together.
Why do you think it’s important for organizations like BISA to give back through programs like the Rising Stars and its capstone project?
SB: Without elevating those around us we cannot succeed. The BISA Rising Stars program allows young people in the industry to work together, be thoughtful and proactively keep the industry we love relevant in an ever-changing atmosphere. The capstone project topic shows everyone that a focus on those who deserve our attention can be a profitable and empowering venture for all involved.
About Scotia Blakey, Region Service Manager at Huntington Financial Advisors: During her experience in the financial services industry, Scotia Blakey is most proud of being a pivotal problem solver and relationship builder, while excelling at multiple department coordination. Blakey’s innovative approach to leading the West Michigan service team has resulted in exceptional colleague engagement and efficiency, while maintaining a client focused mentality. Blakey is driven in fast-paced work environments, highly organized and passionate about increasing financial literacy to improve human relationships with their money. Blakey is an active member of the Huntington Wealth Inclusion Council and participates in Business Resource Group volunteer events in her area.
Beyond her professional responsibilities, Blakey is humbled and inspired each day as she learns to be a mother and actively participate in her family unit. She loves audiobooks, hiking, enjoying the seasons and holding herself accountable to continuous learning and growth. She looks forward to experiencing and building this wonderful journey with her family, colleagues and clients.