As a result of this partnership, they will help one million children set up a savings account.
This initiative was put in place to assist the roughly 40% of African Americans and more than one-third of Latinos who lack financial assets.
“The NBCI child savings account initiative is going to show every family in the U.S. that saving for their children’s future is both easy and important. TrustEgg as a tool to empower anyone independent of background and current wealth status, and we are excited to see this partnership change the national savings rate, helping start one million families on the path to financial security,â€ says Jeff Brice, CEO of TrustEgg.
The National Black Church Initiative and TrustEgg will host a launch event on June 19. The organizations say they hope the collaboration will provide a catalyst for bridging the socioeconomic divide impacting communities of color. They also hope to encourage families across the nation to start saving.