Search
 
Expert Opinion

More Than Words: How to Reach Underserved Communities With Financial Literacy Programs

The more proficient people are in managing their finances, the better positioned their households are for upward mobility.

By Rod Griffin and Theodore Daniels | October 19, 2022 at 09:00 AM
Hand Colored Staff Pawns In Circle Source: AdobeStock.

Decades of underrepresentation across the mainstream financial system has resulted in fewer opportunities for underserved communities, including communities of color, to create a stable financial footing and build generational wealth. The lack of access to resources, tools and financial literacy programs only serve to widen the gap between those with opportunity and those left behind.

As an industry, we have a responsibility to level the playing field. Part of that responsibility includes imparting financial knowledge in meaningful ways and at the right times. People’s ability to effectively manage their finances is reliant on their understanding of the financial system and how to navigate it. The less financial knowledge people have, the less prepared they are to address financial challenges as they arise. And learning from mistakes in the financial world can be very expensive lessons.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.