FirstView unveils the FirstView Foundation to improve financial literacyMortgagePress.comFirstView, financial literacy, FirstView Foundation, Center for Financial Services Innovation
According to the Center for Financial Services Innovation, there
are approximately 106 million adult residents of the United States
who are either unbanked or underbanked. The exclusion of the
unbanked from the mainstream financial service sector has taken a
large toll on working families and agencies providing public
assistance. As a result, FirstView has created the FirstView
Foundation (FVF) www.firstviewfoundation.com
in order to provide financial literacy programs to the unbanked in
an effort to migrate these populations into the mainstream
financial service sector.
The Foundation partners with not for profit and community
volunteer organizations to provide a variety of educational
programs focused on financial matters such as the benefits of
direct deposit; how to navigate the banking system, how to save,
how to purchase insurance coverage, preparing for a natural
disaster, how to build credit and family budgeting.
The FVF will also promote awareness regarding unbanked and
underbanked populations and advocacy regarding inclusion of
unbanked families in the financial mainstream.
With the unbanked turning to fringe financial services providers
such as payday lenders and check cashers, financial literacy has
become even more vital, as 106 million people have been excluded
from financial citizenship.
The unbanked pay check cashiers over $8 billion a year to cash
checks--money that could be used by working families to help
achieve financial stability and family self-sufficiency. It's time
that all families have the opportunity to achieve financial
stability and self-sufficient through access to financial literacy
programs and enrollment in mainstream financial products and
services. FVF will help provide financial literacy programs and
account enrollment assistance that will improve family
self-sufficiency.
For more information, visit www.firstviewfinancial.com.
