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HSBC/UWNCA $20K Grant Furthers ODB's Financial Literacy Outreach
posted by HWebb
on Tue, 2011-08-30 11:50
Contact: Lisa Whetzel
703-273-8829
MEDIA ADVISORY
Our Daily Bread Receives $20,000 Financial Literacy Grant
HSBC/United Way NCA Funds to Spread Financial Knowledge in Fairfax County Area
FAIRFAX, VA. (May 17, 2011) – Fairfax based non-profit Our Daily Bread, Inc. (ODB) recently received a $20,000 grant that will greatly enhance its mission to help working families in the Fairfax County area achieve self-sufficiency. The grant was awarded by HSBC and the United Way of the National Capital Area to help increase financial literacy training and awareness throughout the region. HSBC provided $10,000 and United Way NCA matched those funds.
The grant will allow Our Daily Bread and the Financial Literacy Network of Northern Virginia (FLN), which ODB administers, provide more financial education tools and training to individuals and families throughout the area who are working hard, but struggling to make ends meet.
Executive Director Lisa Whetzel said, “Our Daily Bread is honored to receive this generous grant. It comes at a time when so many in our community are struggling to pay their bills due to unemployment, reduced work hours, the high cost of living in our area or health or other family emergencies. While all of our programs seek to help working families in our community stay in their homes and achieve financial independence, we believe we can have the most lasting impact on our neighbors by helping them stretch their budgets as far as possible, put aside funds for emergencies and plan for the future.”
ODB’s Financial Literacy program provides a variety of opportunities for families to learn how to better manage their finances. These include a six-month mentoring program where clients can meet one-on-one with a trained volunteer to develop a budget and implement strategies to better manage their funds; free one-time budgeting classes using the Federal Deposit Insurance Corporation’s Money Smart curriculum that are offered at various sites in Fairfax County every third Thursday of the month; and a six-week Credit Smart course to help participants gain a better understanding of their credit and personal finances. ODB can bring these budgeting and credit courses to local businesses and community organizations. ODB also administers a Matched Savings Program that helps qualified participants save money to achieve a specific financial goal, and is partnering with Connections for Hope and Reston Interfaith to operate a free Financial Counseling Clinic pilot program.
The Financial Literacy Network of Northern Virginia is a consortium of public, private and nonprofit local financial education providers located in Northern Virginia. FLN’s web site (http://www.financiallitnova.org/) contains an interactive self-assessment tool to help community members of all backgrounds understand their level of financial knowledge and access financial education services that are right for them.
Our Daily Bread is a volunteer-based organization focused on easing the plight of low income residents in the Fairfax County area of Virginia. In addition to its on-going Food, Financial Assistance and Financial Literacy programs, ODB provides Back to School assistance and administers an annual Holiday sponsor-a-family program. ODB needs contributions of funds and volunteer time from Fairfax County area residents, businesses and community groups in order to deliver all of these services. For information visit www.ODBFairfax.org.
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