The FINRA Investor Education Foundation and United Way Worldwide have announced grants totaling more than $1.2 million to nine nonprofit organizations working to provide effective financial education programs in underserved communities across the country.
Awarded through the Financial Education in Your Community initiative, which is administered jointly by the FINRA Foundation and United Way, the two-year grants will support community-based programs that provide financial education resources to individuals and families. In addition to funding, grantees will receive financial education materials and ongoing technical assistance. Grant recipients include the Kentucky Domestic Violence Association in Frankfort, which was awarded $149,600 to expand the reach of its financial stability programs to low-income students; Step Up Savannah in Savannah, Georgia, which will receive $150,000 to work with the Consumer Credit Counseling Service of Savannah to add financial counseling and coaching to its workplace financial education program; and the United Way of Wayne and Holmes Counties in Wooster, Ohio, which was awarded $50,000 to collaborate with the Wayne County Child Support Enforcement Agency and the Ohio State University Extension to provide financial education and coaching for parents who are obligated by the court to make child support payments.
"Providing financial education to hardworking families and people of all ages creates a ripple effect that improves the entire community," said Stacey D. Stewart, United Way Worldwide's U.S. president. "It's the first step toward securing a great education, a safe and stable home, and good health — the building blocks for a good quality of life."
"Local nonprofit organizations are integral to neighborhood social networks," said FINRA Foundation president Gerri Walsh. "They have a unique ability to craft programs and create environments in which participants can learn and make sound financial choices for themselves and their families."