Tricolor Foundation Announces $200,000 In Gifts To Fund Endowments Supporting Higher Education in Hispanic Communities

Constance and Daniel Chu, Founder and CEO of Tricolor Holdings, contribute $100,000 of total gift to launch the Tricolor Foundation’s scholarship initiative

DALLAS, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Hispanics in the United States are a dominant economic force that together would be the fifth largest economy in the world if they were a country. However, nearly 80% of Hispanics in the U.S. do not have a college degree and educational attainment for Hispanics is approximately half of the non-Hispanic population in the U.S., the lowest of any ethnic group.

This low level of Hispanic educational attainment is cause for national concern as it threatens the strength of America’s future workforce. The impediments facing Hispanic students stem from parents' immigrant and socioeconomic status and their lack of knowledge about the U.S. education system. Many Hispanic students begin formalized schooling without the economic and social resources that many other students receive, and, as a result, are unprepared to address the challenges of pursuing a college education.

As part of its commitment to help remove the systemic barriers preventing Hispanics from pursuing a better quality of life in America, the Tricolor Foundation, a nonprofit supporting initiatives in higher education, life skills and financial literacy for underserved Hispanics, today announced that it has funded $200,000 in initial community contributions.

Included in this initial round are newly endowed scholarships for Hispanic students at community colleges that have been identified as Hispanic-Serving Institutions by the U.S. Department of Education. They include Dallas College, Tarrant County College, Houston Community College, Alamo Colleges District, Maricopa Community Colleges, and the Los Angeles Community College District. 

“Hispanics are a vital and fast-growing segment of the overall population in the United States, yet entrenched inequities continue to disadvantage them both economically and educationally,” said Tricolor Foundation Executive Director Regina Montoya. “Our mission is to clear the path so that every member of our Hispanic communities has the opportunity to reach their full potential. We are honored to make these initial contributions in pursuit of that goal and look forward to continuing our work with other deserving organizations and individuals around the country in the year ahead.”

In announcing these initial contributions, the Tricolor Foundation also unveiled its first Tricolor Foundation Visionaries. These are individuals who embody the work of the Foundation and that it believes serve as examples of the achievements and potential of the Hispanic community. The 2023 Tricolor Foundation Visionaries include:

  • Cristal Retana Lule, Community Relations Officer and Senior Director of Government & Community Relations, Children’s Health
  • The Honorable Monica Lira Bravo, Owner and Founder, Lira Bravo Law and Chair of the Board of Trustees, Dallas College
  • Juan Carlos Cerda, Texas State Director, American Business Immigration Coalition
  • Dr. Carlos Cruz, Associate Vice Chancellor for Student Wellbeing and Social Support, Dallas College

Each Visionary is featured in a series of short video interviews available on the Tricolor Foundation website.

“Congratulations to each of our newly named 2023 Tricolor Foundation Visionaries,” continued Montoya. “It’s important that members of our communities have people they can look to as role models and emulate in pursuit of their own goals and dreams. I encourage everyone to listen to the stories of these Visionaries as they each provide important perspectives and lessons for our own lives.”

About the Tricolor Foundation
The Tricolor Foundation is a nonprofit organization created to holistically support Hispanic communities and to accelerate their pursuit of a better quality of life in America. The Tricolor Foundation is “Shaping a Bright Future” for Hispanic individuals and families by dismantling systemic barriers and harnessing available opportunities, enabling them to realize their full potential and contribute to the prosperity of our nation. The work of the Foundation is centered around three pillar areas of financial literacy, life skills and higher education.

About Tricolor
Tricolor is a U.S. Department of the Treasury certified Community Development Financial Institution (CDFI) and a mission-driven company that leverages its direct-to-consumer, A.I.-powered platform to provide transportation and upward financial mobility solutions for underserved Hispanics in the United States. It utilizes advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.

Headquartered in Dallas, Texas, Tricolor and its affiliate Ganas Auto Group operate 50 retail centers across 20 markets in Texas, California, Nevada, and Arizona with a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served nearly 100,000 customers and disbursed over $2.5 billion in affordable auto loans using their proprietary model to segment risk.

John Clifford
Tricolor Foundation
(214) 491-5889

Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455