Monday December 3, 2012
Debbie Belt, 574-6587/303-6167
Phil Miller, 574-1901
Bank On Louisville Partners with HelloWallet
to Help Residents Improve Their Financial Capability
Commitment worth more than $90,000
HelloWallet, a financial guidance company that works with leading companies to improve the financial wellness of their employees, committed today to providing 1,000 free two-year subscriptions for the Bank On Louisville initiative. These subscriptions, which are valued at over $90,000, will provide Bank On Louisville with a valuable resource that will help some of the most vulnerable citizens in our community manage their financial responsibilities and save more.
The HelloWallet subscriptions will be given to low-to moderate-income individuals in Louisville who will be able to sign up for this application online or using their mobile application. HelloWallet is an online financial application which helps its subscribers/members better manage their financial life by helping to grow savings, pay down debt, plan for their future and manage their financial responsibilities through personalized, independent guidance.
“Receiving this tremendous gift from HelloWallet will be a great asset to Louisville and speaks to Bank On Louisville’s recognition as a champion for financial empowerment,” says Mayor Greg Fischer. “We are grateful to HelloWallet for this investment in our community. Helping to improve the financial well-being of our citizens in turn creates stronger neighborhoods and a stronger economy for everyone.”
Tina Lentz, Executive Administrator for Louisville Metro Community Services and Revitalization and Project Leader for Bank On Louisville, states “HelloWallet’s generosity has provided us with another tool in our tool belt for strengthening the asset-building programs in our community. Bank On Louisville’s success in connecting the unbanked and underbanked with mainstream financial products and education services has been built on collaborative efforts among Louisville Metro, financial institutions, non-profit agencies, and partners like HelloWallet.
Two of Bank On Louisville’s community partners, Family Scholar House and Community Action Partnership (CAP), which is also a part of Community Services and Revitalization, will help launch this partnership by serving as pilot agencies. Both CAP and Family Scholar House serve low- to moderate-income households by assisting them with support services that help remove barriers to higher education and employment goals. Caseworkers at these agencies will assist in introducing HelloWallet to clients, tracking progress, and sharing lessons learned to support other Bank On Louisville partnering agencies that will participate in the future.
“HelloWallet was founded to make honest, relevant, and affordable financial guidance available to all Americans,” says HelloWallet Founder & CEO Matt Fellowes. “We are pleased to be doing our part to help those most in need make the most of their money and prepare for the future.”
For more information about this initiative or other programs and services offered by Bank On Louisville, visit www.bankonlouisville.com.
HelloWallet was created to help all Americans reach their financial potential by democratizing access to honest, high-quality financial guidance. This guidance, which leverages the latest research in behavioral economics, helps HelloWallet members manage their expenses and find more money in their paycheck to grow savings, pay down debt, and plan for the future. HelloWallet works with Fortune 500 companies to improve the financial wellness of their employees with the goal of decreasing human capital costs for employers and increasing the productivity levels and financial capability of employees. Additionally, the company gives one membership to a family in need for every five subscriptions it sells. For more information, visit www.hellowallet.com
.About Bank On Louisville
Bank On Louisville launched in July 2010 and is one of more than 70 “Bank On” institutions in the nation committed to connecting low- and moderate-income residents to mainstream financial services in order to avoid costly fringe financial services. Bank On Louisville’s success at establishing partnerships has been the key to reaching the unbanked residents and connecting them with low-cost financial services. Sixteen banks and credit unions, and more than 100 community organizations, faith-based and government agencies, including Louisville Metro, and the Federal Reserve, work together on this initiative. Bank On Louisville also helps to connect individuals with numerous financial education opportunities. Visit www.bankonlouisville.com for more information.