The NAACP announced Friday that, with partners that include Wells Fargo, the National Foundation on Credit Counseling, and the Financial Planning Association (FPA), it is launching the Financial Freedom Center Satellite program. The program expands financial education, financial services, and banking resources to historically disadvantaged communities.
The NAACP, said the national Financial Freedom Center was launched on April 4 in Washington, D.C., in partnership with Wells Fargo, It was designed to influence change in the banking industry, prevent unfair mortgage lending practices, protect the community against predatory mortgage lending practices, improve fair credit access, and promote sustainable homeownership, financial education and wealth building strategies in historically disadvantaged communities.
The satellite program will provide grants of $4,000 each to 21 NAACP units across the country; the money will be used to provide workshops on a variety of financial subjects, including money management, credit, home preservation, mortgage foreclosure prevention services and mortgage lending services. The workshops will be offered through community groups in each unit‘s local area.