SAFE Accepting Grant Applications for Financial Literacy ProgramsJan 16, 2024 10:40AM ● By SAFE Credit Unit Press Release
SAFE Credit Union Vice President Community Relations and Financial Education Rebecca Delmundo. Photo courtesy of SAFE Credit Union
FOLSOM, CA (MPG) – In its drive to improve financial literacy in the Greater Sacramento region, SAFE Credit Union will grant $20,000 to a nonprofit organization providing financial literacy and financial stability programs in underserved communities.
SAFE is accepting applications for the grant until Friday, Feb. 9, through its online application, or at https://www.safecu.org/community/community-impact/funding/community-sustainability-grant-application....
“Equipping people with the skills they need to take charge of their finances is one of our main motivations here at SAFE,” says Vice President of Community Relations and Financial Education Rebecca Delmundo, adding only 27 percent of California’s students attend schools that offer personal finance courses.
“It’s essential for people to understand how to put aside savings, how interest rates and loans work, and how to handle debt for them to succeed in life. With so few students receiving formal financial literacy training, financial cooperatives like SAFE Credit Union and our nonprofit partners are stepping in to provide this much-needed education,” she continues.
Only 1 percent of California students are required to complete personal financial education courses to graduate from high school, according to state Department of Education statistics. There have been some political efforts to change that, with the Legislature recently considering proposals, and a 2024 ballot initiative in the works. However, the grant, says Delmundo, represents how SAFE and others in the region dedicated to providing financial education services are stepping in to fill the need now.
Delmundo says that young people especially can benefit from financial education programs since mistakes they may make early in life can affect them long into adulthood.
“It just takes one missed payment to harm a credit score,” she says. “I’ve seen a lot of young people get buried in credit card debt while also tackling paying off student loans. I’m a strong proponent of helping people learn how to handle the finances they have now so they can achieve their future financial goals.”
SAFE offers its own financial education services through free webinars available to the public as well as workshops to employers and organizations. It also offers its no-cost Budget Cents interactive simulations to high schools in the region, where students get a first-hand look at the real-life expenses they’ll face as adults. SAFE’s high school branch program works closely with three area high schools to house a branch at each and provide supportive financial education for the students who staff the branches and their fellow students.
“There are a lot of us working to fill the financial education gap,” says Delmundo. “And we are all keenly aware of how many people truly want this information. This grant helps us help others providing this service.”
SAFE conducts four grant cycles each year as part of its overall philanthropic program that also includes direct giving, scholarships, sponsorships, and volunteerism.
For more information on SAFE’s grant program and to contact VP Community Relations and Financial Education Rebecca Delmundo, please contact Assistant Vice President Communications and Public Relations Carole Ferguson at [email protected] or by phone at (916) 836-6312.