Press Releases

SOCIETY FOR FINANCIAL EDUCATION & PROFESSIONAL DEVELOPMENT AND CARVER BANK PARTNER TO REDUCE FINANCIAL LITERACY GAP FOR STUDENTS AT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES

Program Teaches Critical Personal Financial Skills at Howard University, Medgar Evers College, and the University of the District of Columbia

Carver is the first Minority Depository Institution to support the SFE&PD Student Ambassador Program at HBCUs

Courtney Hicks
University of the District of Columbia

Evan Johnson
Howard University

Celine Raphael
Medgar Evers College

HBCU Students Use Tablets to Teach Financial Literacy Seminars

NEW YORK AND ALEXANDRIA, VA, FEBRUARY 8, 2021 – To address a financial literacy knowledge gap in communities of color, The Society for Financial Education and Professional Development, Inc. (“SFE&PD”) and Carver Federal Savings Bank (“Carver”) today announced a partnership to teach personal financial skills to students at three historically Black colleges and universities (“HBCUs”).

One of SFE&PD’s goals is to increase African Americans’ financial and investment knowledge to close America’s wealth gap. For example, a recent Federal Reserve Bank of St. Louis study states that only 6.5% of African American households own stocks, bonds, or mutual funds, compared to 25.3 for white families. If communities of color are to build wealth, proactive steps must be taken in the formative college years to educate students about becoming wiser with their money.

Medgar Evers College, Howard University, and the University of the District of Columbia are the HBCUs participating in the partnership. To combat challenges young people of color face in building wealth, SFE&PD initiated a Student Ambassador Program to train HBCU students to teach their peers about making smarter personal finance decisions. Many HBCU students come from low-to-moderate income families where money management is not regularly discussed or taught. The SFE&PD training sessions teach essential personal financial skills, focusing on saving, investing, banking, budgeting, credit and student loan management, and financial goal-setting.

“Thanks to our partnership with Carver, we can expand the program’s reach and teach more students the financial skills they need to increase economic prosperity throughout their lives,” said Ted Daniels, SFE&PD Founder and President. “These skills help to level the playing field for diverse students who often do not have access to information or a support system to make informed financial choices. Financial literacy during the crucial college years fosters long-term economic equality.”

Michael T. Pugh, President and CEO of Carver, agrees that financial education is a crucial tool to help college students from communities of color achieve long-term economic success. “Carver is proud to work with SFE&PD in a groundbreaking partnership with three HBCUs to advance financial skill-building and economic empowerment for the next generation of leaders,” Pugh said. “Investing in the Student Ambassador Program gives HBCU students a solid foundation for developing their financial health and the opportunity to become champions of financial education in their local communities.”

The pilot program sponsored by Carver supports SFE&PD’s financial literacy initiatives. Carver also provides educational tools such as iPad teaching tablets for the Ambassadors and access to Carver’s leaders to increase the economic engagement of HBCU students. With guidance from SFE&PD financial educators and business school professors at the three HBCUs, the Student Ambassadors are trained to teach personal finance classes to their peers and run events for students and local community members.

A rising number of HBCU students face financial difficulties due to the economic challenges stemming from the pandemic. Two Howard University business school professors, who advise the SFE&PD program, say that financial education is crucial for the long-term economic well-being of minority students.

“It is more important than ever for Howard University students to learn financial literacy principles so that they can effectively manage their money during and after college,” said Lynne J. Kelly, Ph.D., Associate Professor of Finance. “College students face increasingly complex financial decisions. Many students have higher debt levels today than previous generations. It is also far too easy for college students to get into financial trouble, given the barrage of online shopping, gambling, and trading options at their fingertips. I believe the partnership between the SFE&PD and Carver is a step in the right direction to alleviating these financial stress points.”

“Based on a 2018 Federal Reserve Bank survey on consumer finances, 40 percent of Americans do not have $400 for an emergency expense. These financial worries are even worse within communities of color,” said Debby Lindsey-Taliefero, Ph.D., Associate Professor of Economics. “That’s why we are pleased to work with SFE&PD and Carver Bank on this crucial program to equip Howard University students with the skills to teach their peers at this important point in their financial journeys. This program is providing minority students with a roadmap for financial well-being that will last well beyond their college years.”

###

About The Society for Financial Education and Professional Development
For more than 22 years, SFE&PD, based in the Washington, D.C. area, has served as an award-winning financial literacy and professional development nonprofit teaching financial skills to people of all ages and backgrounds with a focus on underserved communities and HBCU college students. SFE&PD is led by President and Founder Ted Daniels, a leader in the global financial literacy movement. Learn more at www.sfepd.org.

About The Society for Financial Education and Professional Development
For more than 22 years, SFE&PD, based in the Washington, D.C. area, has served as an award-winning financial literacy and professional development nonprofit teaching financial skills to people of all ages and backgrounds with a focus on underserved communities and HBCU college students. SFE&PD is led by President and Founder Ted Daniels, a leader in the global financial literacy movement. Learn more at www.sfepd.org.

Connect with Carver on social media:

Connect with SFE&PD on social media:

Media Contacts:
Ginie Lynch for SFE&PD
ginielynch@sfepd.org
443-614-2772

Michael Herley for Carver
mediainquiries@carverbank.com
203-308-1409

Society for Financial Education and Professional Development, Inc.
Enhancing financial and professional growth…
For Immediate Release Contact: Ginie Lynch, 443-614-2772

SFE&PD AWARDED SCHOLARSHIP FROM AFCPE FOR PROFESSIONAL DEVELOPMENT OF HBCU STUDENTS

SFE&PD’s Student Ambassadors taking Money Management Essentials Course and the AFC® Exam

Alexandria, VA – The Association for Financial Counseling and Planning Education (AFCPE®) Strategic Impact Fund has awarded over $13,000 to the Society for Financial Education and Professional Development, Inc. (SFE&PD) to fund the Money Management Essentials course and the AFC® (Accredited Financial Counselor®) education and exam for students at historically Black colleges and universities (HBCUs) who participate in SFE&PD’s Student Ambassador Program.

In 2017, SFE&PD started the Student Ambassador Program to train college students to teach their peers about financial education. The program is student-centered with the goal of increasing the financial knowledge and skills of college students, many of whom are first-generation students. The program is nationwide and on the campuses of 22 HBCUs.

The scholarship provides for 25 Student Ambassadors to take the Money Management Essentials course, an online course administered by AFCPE. Upon completion of the Money Management Essentials course, Student Ambassadors will receive a certificate, which will give them opportunity to take the next step to become AFCPE certified financial counselors. The funding also provides for 5 college students to take part in the AFC® certification program, which will put students on the path to become accredited financial counselors.

“We are grateful to AFCPE for supporting our Student Ambassador Program because the course and AFC® exam allow them to enhance their financial and professional skills,” said Ted Daniels, SFE&PD’s Founder and President. “AFCPE’s investment in HBCU college students gives our students the opportunity to reach their financial goals and prepares them for successful careers. The additional financial training adds value to our financial education curriculum.”

One of SFE&PD’s Student Ambassadors studying at Howard University in Washington, D.C. said he appreciates the opportunity to take the Money Management Essentials course.

“I’m learning a lot in the Money Management Essentials course, but most importantly, I recognize how vital it is to have a solid understanding of fundamental financial situations,” said Evan Johnson, an Information Systems major at Howard University. “I am able to develop my financial knowledge and skills by participating in this training, which not only supports me in my future career but my life as well. I intend to share the important information I learned from the course with others in my community, which is why I joined the SFE&PD’s Student Ambassador Program.”

###

SFE&PD
For more than 22 years, SFE&PD, based in the Washington, D.C. area, has served as an award–winning financial literacy and professional development nonprofit teaching financial skills to people of all ages and backgrounds with a focus on underserved communities and HBCU college students. SFE&PD is led by President and Founder Ted Daniels, a leader in the global financial literacy movement. Learn more at www.sfepd.org or email ginielynch@sfepd.org.

Security and Exchange Commission Announces New Investor Advisory Committee Members

Washington D.C.- The Securities and Exchange Commission today announced the appointment of six new members to its Investor Advisory Committee.

The Committee was established under the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise the Commission on regulatory priorities, regulation of securities products, trading strategies, fee structures, disclosure effectiveness, and initiatives to protect investors and promote investor confidence and the integrity of the U.S. securities markets.“

I welcome and look forward to working with this accomplished and diverse group of new Committee members,” said Chairman Jay Clayton. “I also thank the SEC staff and Commissioners Peirce, Roisman, and Lee for their collective efforts to bring a strong group of new members to the Committee.”

The new members of the Investor Advisory Committee are:

  • Cien Asoera, Financial Advisor, Edward Jones
  • Theodore “Ted” Daniels, Founder and President, Society for Financial Education and Professional Development
  • Elissa Germaine, Professor, Pace Law School; Executive Director, John Jay Legal Services, and Director, Investor Rights Clinic, at Pace Law School
  • Satyam Khanna, Resident Fellow, NYU School of Law Institute for Corporate Governance and Finance (who will join the Committee on July 5, 2020)
  • Lori Lucas, CFA, President and CEO, Employee Benefit Research Institute
  • Christopher Mirabile, Senior Managing Director and Board Member, Launchpad Venture Group; Chair Emeritus, Angel Capital Association

The new members will join the current members, who continue to serve their terms.

The Investor Advisory Committee’s next meeting will take place Thursday, May 21, and will be available to view via webcast at sec.gov.

###

Society for Financial Education and Professional Development, Inc.
Enhancing financial and professional growth…
For Immediate Release Contact: Ginie Lynch, 443-614-2772

Alexandria, VA – An education nonprofit is launching an innovative peer-to-peer financial literacy program with North Carolina Central University (NCCU)’s School of Business to give students the opportunity to teach their peers about financial education.

“Financial literacy is an important life skill,” said Theodore “Ted” Daniels, Founder and President of the Society for Financial Education and Professional Development (SFE&PD).

“We are pleased to collaborate with NCCU on the SFE&PD Student Ambassador Program, where the Ambassadors will gain financial knowledge and skills to teach fellow students about financial issues, such as student loan debt, credit, investment, and homeownership.”

Four students — Danielle Newton, Ambrose Bond, Khalil Woods and Theo Tagoe — were selected as ambassadors in the SFE&PD Student Ambassador Program by Dr. Kofi Amoateng, a Professor of Finance in NCCU’s School of Business who will serve as the program’s faculty oversight professor. The program will provide students with the opportunity to gain leadership skills while learning how to teach their peers about personal finance in engaging ways.

NCCU Student Ambassadors understand the value of financial education for their future and sharing this knowledge with fellow students. “Today’s high school and incoming college freshman are bombarded with financial information,” said Student Ambassador Ambrose Bond. “This program will help highlight misinformation and overlooked financial information students need to survive in today’s globalized world.” Student Ambassador Khalil Woods agreed. “In today’s society, financial literacy is one of the most important tools to have in your arsenal,” Woods said. “SFE&PD is supplying people of ages with knowledge of financial literacy to help individuals prepare themselves for the real world.”

For the past 20 years, SFE&PD has taught financial literacy training workshops to thousands of individuals and college students with a focus on underserved communities. NCCU is the 13th university to join SFE&PD’s Student Ambassador Program.  The SFE&PD Student Ambassador Program is supported by Wells Fargo Hands on Banking®. All trainings will be open to the campus community and the public.

###

SFE&PD is an award –winning financial literacy and professional development nonprofit empowering individuals of all ages and backgrounds with financial literacy skills to help them achieve their financial goals. For more information, call 703-920-3807 or visit the website: www.sfepd.org.

Alexandria, VA. – Financial experts from government, nonprofits, and research organizations from across the country will offer strategies on how Americans can better manage their finances at a collaborative financial literacy conference in Arlington, VA.

The 12th Annual Financial Literacy Leadership Conference, hosted by the Society for Financial Education andProfessional Development, Inc. (SFE&PD), will be held Oct. 7-8th at the Crystal Gateway Marriott.

“Many Americans struggle with their personal finances, such as saving for emergencies or preparing for retirement, and often face financial hardships on a daily basis,” said SFE&PD Founder and President Theodore “Ted” Daniels. “We are pleased to bring together top speakers and panelists to share their expertise with financial literacy colleagues, teachers, and consumers.”

SFE&PD’s 16 workshops will offer financial tips for people at all life stages from college students to seniors and practical resources essential for successful financial planning. This year SFE&PD will host students from 12 Historically Black Colleges and Universities (HBCUs) to engage them in the interactive financial workshops. SFE&PD will also honor financial literacy pioneers at a reception on Oct 7. Registration and conference details available here: https://conta.cc/2Vby12D.

###

SFE&PD is a financial education and professional development nonprofit that teaches college students from underserved communities and individuals from all backgrounds to manage money wisely. SFE&PD hosts an annual financial literacy leadership conference and conducts financial literacy seminars for people of all ages in communities nationwide. For information, call 7039203807 or go to: www.sfepd.org.

Washington, D.C. –The Society for Financial Education and Professional Development, Inc. (SFE&PD), which runs an innovative program training Historically Black Colleges and University (HBCU) students to teach their peers about money management, is partnering with the National Endowment for Financial Education (NEFE) to enhance these students’ skills.

SFE&PD’s Student Ambassadors can now take Money Management Essentials, an online course administered by the Association for Financial Counseling and Planning Education (AFCPE). Upon completion of the course, Student Ambassadors will receive a certificate, which will give them opportunity to take the next step and become AFCPE certified financial counselors. The course will be funded by NEFE and offered to students in SFE&PD’s Student Ambassadors Program in 12 HBCUs nationwide.

“We are grateful for NEFE’s support for the Student Ambassadors Program and for funding an SFE&PD internship, “said Theodore “Ted” Daniels, SFE&PD’s Founder and President. “NEFE is helping us to take our student financial education efforts to the next level in preparing young people for financial success.” SFE&PD and NEFE are nonprofit leaders in financial education and represent 56 years of service in educating consumers about personal finance. “NEFE wants to create a strong pipeline of young adults interested in a career in financial education and financial planning,” said Billy Hensley, NEFE’s President and CEO. “A path toward credentialing is a great start toward this goal.”

For more than 20 years, SFE&PD has been on the forefront of providing financial literacy training, conducting seminars for more than tens of thousands of individuals and college students. As part of SFE&PD’s professional development arm, the Society also hosts an Annual Financial Literacy Leadership Conference for educators, policy makers, and financial experts to share best practices.

###

SFE&PD is an award –winning financial literacy and professional development nonprofit empowering individuals of all ages and backgrounds with financial literacy skills to help them achieve their financial goals. For more information, call 703-920-3807 or visit our website: www.sfepd.org. The National Endowment for Financial Education (NEFE) is the leading private nonprofit national foundation dedicated to inspiring empowered financial decision making for individuals and families through every stage of life. For information, call 303-741-6333 or visit their website: www.nefe.org.

View PDF

Experts Discuss Crisis in Teaching Americans about Financial Literacy

New Orleans, La.– Top national financial education experts will convene in New Orleans Sept. 13-14, 2018 to share financial strategies and tools to help Americans improve their ability to be successful managers of their own finances.
“Wealth: Paying Your Way Forward” is the theme of the 11th Annual Financial Literacy Leadership Conference, sponsored by the Society for Financial Education and Professional Development Inc. (SFE&PD), an educational nonprofit. “It is imperative to raise awareness about teaching financial education to all Americans, many of whom lack the knowledge to save and invest for their future and end up in debt,” said Theodore Daniels, SFE&PD’s Founder and President. SFE&PD has provided financial literacy training to more than 360,000 individuals, including students at 90 colleges and universities. For 20 years, SFE&PD has taught financial education primarily, but not exclusively, to students at Historically Black Colleges and Universities (HBCUs), including Xavier University, Southern University of New Orleans and Dillard University.

“Too much financial illiteracy exists, especially in the South, which has among the nation’s highest rates,” Daniels said. Experts will tackle ways to reach populations that need the most help at the two-day conference at the JW Marriott. Workshops will explore topics such as: family financial therapy, the gender investment gap, bilingual financial education, and economic cycles and financial decision-making. Daniels, a leader in the financial education movement, has published extensively on financial issues.

-30-

Based in Alexandria, VA, SFE&PD is an award–winning l financial literacy and professional development nonprofit teaching money management skills to individuals of all ages and backgrounds. For more about the workshops and the speakers at the 11th Annual Conference, visit www.sfepd.org.

Nonprofit Honors Leaders in the Financial Education Movement
Roland Martin: Urgent Need to Teach Financial Literacy

Washington, D.C. – The Society for Financial Education and Professional Development, Inc. (SFE&PD) will honor top leaders in the financial literacy movement at its 20th Anniversary and Awards Gala June 26, 2018. The gala, hosted at the Grand Hyatt in Washington, D.C. from 6 to 9 p.m., will feature journalist Roland Martin as the keynote speaker. Martin, CEO of Nu Vision Media, Inc. and Host/Managing Editor, TV One, will address the urgent need to teach financial literacy, especially in underserved communities.

“As one of the first nonprofits to teach students financial education, SFE&PD is proud to celebrate colleagues who contribute greatly to the financial literacy cause,” said Theodore “Ted” Daniels, SFE&PD’s Founder and President. SFE&PD will honor organizations and financial education advocates at its awards ceremony. Leadership Awardees include:

Outstanding Public Leader Award: U.S. Rep. Steny Hoyer (D-MD-5)
Corporate Partner Leadership Award: Ally Financial
University Leadership Award: HBCU Business Deans Roundtable
Community Equality Leadership Award: Prosperity Now
Faith-Based Leadership Award: Dr. Rev. DeForest Soaries Jr.
Nonprofit Leadership Award: Jump$tart Coalition for Personal Financial Literacy

SFE&PD’s awards are a platform to highlight the positive impact of teaching people financial skills that can empower families and communities, Daniels said. “We are delighted Roland Martin will discuss reaching underserved populations and teaching them important skills for financial health.”

-30-

SFE&PD is a financial education and professional development nonprofit that teaches college students and individuals to manage their money wisely and plan their economic futures. SFE&PD conducts financial literacy seminars to people of all ages and backgrounds, and works with universities, nonprofits groups, and government agencies. For information, call 703-920-3807 or go to: www.sfepd.org.

School of Business to Launch Financial Literacy Ambassador Program

Friday, February 16, 2018

ORANGEBURG, S.C. – SC State University’s School of Business is partnering with the Society for Financial Education and Professional Development Inc. to implement the Financial Literacy Ambassador Program. The program will officially launch on Monday, Feb. 19.

The purpose of the program is to inform students about financial literacy so that they are prepared to make sound financial decisions throughout their lives. The student ambassadors are required to assist their peers and the community, with being well-informed about finances. The ambassadors will also gain essential leadership skills by providing on-campus workshops and training sessions for other students.

The Society for Financial Education and Professional Development Inc., based in Alexandria, Virginia, will provide training to student ambassadors so that they are well-equipped to be financial mentors. The ambassadors will be educated about various financial management topics including, credit management, budgets, risk management, investments, student loan management and homeownership.

The SFEPD Inc. is a nonprofit organization that works to enhance the financial and economic literacy of individuals and households in the U.S. The organization has provided financial education programs to over 90 colleges and universities across the nation, and has taught financial literacy to more than 240,000 students.

SC State and Claflin University are among several historically black colleges and universities that will implement the Financial Literacy Ambassador Program this month.

Each academic school year, four SC State student ambassadors will be selected by the School of Business’ interim dean, Dr. Barbara Adams, and Dr. Guohua Ma, associate professor of finance. Ma will also oversee the program.

The School of Business hopes to increase graduation and retention rates for the university, with the implementation of this program.

The ambassadors for the 2017-18 school year are, D’Metrius Dew, a senior accounting major; Cravern Andrew, a junior management major; Jewel Blair, a junior accounting major and Jah’Nya Francis, a sophomore accounting major.

Ambassadors are required to mentor at least 500 of their peers each semester, through financial workshops. Students will also receive a $500 stipend each semester, during their year of servitude.

The general eligibility requirements for the Financial Literacy Ambassador Program are as follows:

Must be a sophomore, junior or senior
Must be a business major
Must have a cumulative grade point average of 2.5 or higher
Must have an interest in learning about financial literacy

For more information about the Financial Literacy Ambassador Program, contact Dr. Guohua Ma at (803) 536-8173 or gma@scsu.edu.

College Students to Help Lead Peer-to Peer Financial Education Initiative Pilot Program Launches at North Carolina A&T State University

FOR IMMEDIATE RELEASE
Contact: Ginie Lynch
703-920-3807
443-614-2772 (c)

Alexandria, VA – Imagine an innovative program where college students learn financial literacy skills and then teach their peers knowledge that gives students a foundation to achieve financial success.

A pilot program at Historically Black Colleges and Universities (HBCUs) is being launched to do just that. The Society for Financial Education and Professional Development, Inc. (SFE&PD), with support by Wells Fargo’s Hands on Banking ® program, kicks off its first training at North Carolina A&T State University, Wednesday, Oct. 25, 2017, in collaboration with the University’s College of Business Administration and Economics.

“We are pleased to initiate the SFE&PD Student Ambassador Program, a student- centered initiative that trains a select group of students on financial literacy and then helps the students to directly educate their peers about how to manage their money wisely,” said Theodore “Ted” Daniels, SFE&PD’s Founder and President.

Student ambassadors will assist with a Credit Management Workshop on Oct. 25th at 5:30 p.m. in Deese Auditorium (Merrick Hall) on the campus of North Carolina A&T State University in Greensboro. Over the 2017-2018 academic year, student ambassadors will hold and coordinate financial education events, conduct peer counseling, and develop new programs to reach their peers. Future financial workshop include: banking, savings and investing, risk management (insurance), budgeting, and student loan management.

The program’s goals include: teaching students money management skills that maximize financial resources during college and after graduation. The Oct. 25th workshop is open to the campus community and the public.

-30-

SFE&PD is an award –winning nonprofit organization empowering individuals with the skills to be financially literate by helping people to achieve financial and professional goals. SFE&PD teaches financial education and professional development seminars and workshops to individuals of all ages and backgrounds, and works with universities, nonprofits, corporate groups, and government agencies. For more information, visit www.sfepd.org .

The Hands on Banking ® program is a free non-commercial financial education program offered by Wells Fargo designed to help facilitate financial education programs within communities and organizations. For more information, visit www.handsonbanking.org