Press release

Councilwoman Monica Rodriguez Launched a Mobile Financial Literacy Hub to Equip Young Angelenos with Real-World Financial Tools

 

LOS ANGELES, CA — In a bold move to advance financial empowerment among young

Angelenos, Councilwoman Monica Rodriguez—joined by immigration rights advocates and

youth leaders, officially launched the L.A. Financial Literacy Hub, a mobile-based platform

developed in partnership with the City’s Youth Development Department (YDD) and SUMA

Wealth. The hub provides free, culturally relevant financial education to youth across Los

Angeles at a time when many are being thrust into adult roles due to immigration enforcement

and economic instability.

Accessible through the SUMA mobile app, the L.A. Financial Literacy Hub is tailored for

individuals ages 18 to 25. It features a curated library of financial education tools, including short

videos, budgeting guides, and downloadable worksheets, all designed with usability and cultural

relevance in mind. Upon completing a series of modules, users receive a co-branded Certificate

of Financial Literacy from the City of Los Angeles and SUMA Wealth.

“Young Angelenos deserve practical tools that reflect their lived experiences

and help them build financial stability, right in the palm of their hands,” said

Councilwoman Monica Rodriguez. “This partnership with SUMA Wealth

shows what’s possible when we listen to youth and deliver the solutions they’ve

asked for. It’s a powerful demonstration of why the Youth Development

Department exists, to ensure young people have a voice in shaping the

resources and systems that support their futures.”

The launch event featured community leaders, youth advocates, and educational partners,

including Dr. Alberto J. Román, Chancellor of the Los Angeles Community College District

(LACCD), who emphasized the app’s potential to support LACCD’s first-generation student

population.

“As a former immigrant student and first-generation college graduate, I know how

difficult it can be to navigate financial decisions without the right tools,” said Dr.

Román. “This partnership with SUMA Wealth, SALEF, and the City of Los Angeles

helps change that for our students. By giving them access to culturally relevant,

financial education, we are empowering them to make confident choices and take

control of their futures. This isn’t just about dollars and cents, it’s about dignity,

opportunity, and lifelong success. I’m especially grateful to Councilwoman Monica

Rodriguez for her visionary leadership and deep compassion for the young people

of Los Angeles.”

The app requires no bank account or personal documentation to access, removing major

barriers for youth in historically underserved communities. For users who want to unlock

additional features like savings and budgeting tools, optional account linkages are available.

The City and SUMA Wealth will track usage and impact data quarterly to inform future

expansion.

“The creation of a mobile-based hub alongside SUMA Wealth is extremely exciting

because it provides more youth across the City of Los Angeles with the real-world

skills they need to tackle 21st-century problems head-on,” said Jerry Yang,

President of the Olivia E. Mitchell L.A. City Youth Council. “By closing the

knowledge gap in underserved and disadvantaged communities through this

program, youth will learn to make smarter financial decisions, build beneficial

habits, and become more self-reliant, creating a better future for Los Angeles.”

“This collaboration with the City of Los Angeles is exactly what SUMA was created

for—to meet young people where they are and deliver financial education that’s

accessible, engaging, and designed with culture in mind,” said Beatriz Acevedo,

CEO and Co-Founder of SUMA Wealth. “We are proud to launch this hub with the

City of Los Angeles and Councilwoman Rodriguez, and we’re excited to equip

youth with the confidence and tools to take control of their financial futures.”

Spearheaded by Councilwoman Rodriguez, The Youth Development Department has also

created The Financial Guide for Immigrant Families Facing Deportation through a partnership

between the Salvadoran American Leadership and Educational Fund (SALEF). The guide offers

practical, easy-to-follow steps to help families protect their finances and prepare for

emergencies. It covers how to manage bank accounts, safeguard access to funds, assign

power of attorney, and avoid scams. This guide also includes checklists for organizing critical

documents, preparing legal custody arrangements for children, and ensuring property and

businesses are secure. It’s designed to empower immigrant families with the knowledge and

tools to maintain financial stability, even in times of uncertainty.

“At a time when we are being faced with family separation, and our families are

being ripped apart and having to face detention, it’s very important that we equip

our families to have the access and the ability to be able to understand and manage

finances and resources that are very critical, ”said Jocelyn Duarte, Executive

Director of SALEF. “Whether it’s them knowing how to safeguard vital documents,

right, family preparedness, access emergency funds, or navigating a banking

system, this app is going to be a lifeline for them. It meets youth where they are at

offering culturally relevant tools to help them not only survive, but also thrive. This

app empowers the youth to plan, protect and lead, not just for themselves, but for

their families and their communities.”

“This initiative is part of our larger strategy to support young Angelenos in

navigating the challenges of adulthood,” added Lisa Salazar, Executive Director of

the Youth Development Department. “By providing free, mobile, and culturally

relevant financial tools, we are removing barriers and giving young people the

foundation they need to thrive, not just survive, in today’s economy.”

The L.A. Financial Literacy Hub is the latest in a series of initiatives led by Councilwoman

Rodriguez to expand access to opportunity and economic mobility for youth across the city.

Councilwoman Rodriguez also collaborated with LACCD to ensure the platform supports the

district’s large population of first-generation students, recognizing the unique challenges they

face as they step into financial independence and often support their families.

To download the app or learn more, visit: https://sumawealth.com

To learn more about the Youth Development Department, visit:

https://ydd.lacity.gov/FinancialLiteracy


Media Contact:

Alexia Valencia

310-346-5180 | alexia@goodnesssakestrategies.com

About Councilwoman Rodriguez

Los Angeles City Councilwoman Monica Rodriguez serves as the City’s Chair of the Government

Efficiency, Innovation and Audits Committee and represents the 7th Council District in the Northeast San

Fernando Valley which includes the neighborhoods of Sylmar, Mission Hills, Pacoima, Lake View Terrace,

Sunland, Tujunga, North Hills, Shadow Hills, and La Tuna Canyon.

For more information, visit monicarodriguez.org  Website || Instagram || Facebook