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Project Access Partners with Financial Institutions to Celebrate April Financial Literacy Month in New Multi-State Initiative
Project Access to Offer Expanded Financial Education Opportunities for Low-Income Families.
Orange, Calif. (April 26, 2017) – Project Access announced today that it will strengthen its partnerships with financial institutions in order to increase access to financial education for low-income families as part of Financial Literacy Month, which takes place in April. Partners include Banc of California, Bank of America, Bank of the West, BBVA Compass Bank, BofI Federal Bank, Cathay Bank, City National Bank, East West Bank, Farmers & Merchants Bank, First Republic Bank, Opus Bank, Pacific Premier Bank, Sunwest Bank, Wells Fargo, Union Bank, and U.S. Bank.
The month of April is nationally recognized as Financial Literacy Month. Approximately two-thirds of Americans can’t calculate basic interest rates correctly, according to the most recent data from the Financial Industry Regulatory Authority Investor Education Foundation’s Financial Capability Study. The limited understanding of financial concepts is especially detrimental to working poor families, who often fall victim to predatory payday lending scams and other harmful financial practices. Project Access’ unique presence within low-income housing communities and partnerships with financial institutions bring desperately-needed financial education resources to the working poor to help break the cycle of poverty. While Project Access partners with a number of financial institutions to provide financial literacy workshops on a year-round basis, BBVA Compass Bank has launched a new initiative to provide expanded financial education workshops during the month of April throughout Northern California, Southern California, Arizona, and Colorado.
“BBVA Compass is excited to partner with Project Access to deliver financial education to individuals across California, Arizona and Colorado,” said Jeff Talpas, West Region Executive. “Creating financial opportunities for families is a core component of what we strive to accomplish at BBVA Compass, and it all starts with education.”
“Project Access has a deep commitment to improving the economic stability of the families we serve,” said Kathy McCarrell, President and CEO of Project Access. “Our presence within low-income housing communities provides an innovative platform for partnering with financial institutions and bringing financial education services to families and seniors who need it most. We are thrilled to expand our partnership with BBVA Compass to provide additional financial literacy and education services during Financial Literacy Month.”
In addition to providing financial education workshops, financial institutions can adopt a particular Project Access Resource Center in order to meet the unique needs of a specific neighborhood or community. Participating financial institutions include:
- Bank of America—Adopted Valley Palms Family Resource Center in San Jose, California
- Banc of California—Adopted Pradera and Hermosa Village Family Resource Centers in Anaheim, California
- City National Bank—Adopted Vista Angelina Family Resource Center in Los Angeles, California
- BofI Federal Bank—Adopted Meadowbrook Family Resource Center in San Diego, California
- Union Bank—Adopted Warwick Square Family Resource Center in Santa Ana, California
- U.S. Bank—Adopted the Stratford Place and Windsor Court Resource Center in Westminster, California and the Tassafaronga Village Family Resource Center in Oakland, California
Key financial education topics addressed as part of this initiative include budgeting, credit, taxes, savings, interest, loans and lending practices, payday lending prevention, and fraud prevention. Project Access is committed to improving the economic stability of families and seniors residing in low-income apartment communities, and provides on-site services that give low-income families resources to be financially self-sufficient. Services include employment readiness assistance, job search assistance, financial literacy and education workshops, computer lab access and training, second language acquisition classes, and GED/vocational training preparation. For more information about Project Access, please visit https://www.project-access.org/.
About Project Access
Project Access is a 501(c)(3) nonprofit organization with headquarters in Orange, California and Oakland, California. The mission of Project Access is to be the leading provider of vital on-site health, education, and employment services to low-income families, children, and seniors. Founded in 1999, Project Access is committed to giving low-income families the tools they need to break the cycle of poverty by becoming healthier, further educated, and financially stable. Project Access currently operates 61 Family and Senior Resource Centers throughout California, Colorado, Georgia, Texas, and Arizona. Our resource centers serve as “one-stop-shop” community hubs that provide low-income families with the resources needed to achieve financial self-sufficiency. This unique model of service delivery allows Project Access to directly impact the lives of hard to reach pockets of underserved, impoverished families within in their own backyards. In 2016, Project Access’ programs served 14,000 people.