Supporting Financially Resilient Communities with Tools from Bank of America
Johnson Bam moved to the U.S. from Ghana with his wife and children six years ago, and the family soon outgrew their Chicago rental apartment. With three kids, he wondered if he could become a homeowner in their new country. Johnson set out to learn everything he could about the home-buying process in the U.S. Using Bank of America’s Better Money Habits® financial educational resources, which are offered online and through community-based partners, Johnson was able to budget, save up for a down payment, and, once a homeowner, manage his new expenses. Through the additional support of his loan officer, who guided him through the process, the Bam family now has a place to call their own. Hear more about Johnson’s experiences and read the stories of other community members finding financial success.
Bank of America’s free Better Money Habits® tools, which include videos, articles, and resources, available in both English and Spanish, provide practical information around money and personal finance. Community-based organizations can leverage these resources in a variety of current programs by engaging staff in train-the-trainer Better Money Habits sessions.
Social Current network organization Northwestern Settlement House in Chicago has worked with Bank of America to train its staff on these financial literacy education tools. “The Better Money Habits website and tools were really easy to access and use, said Katie Taylor, director of development at Northwestern Settlement. “Our program staff are able to easily pull what’s needed for our different populations and specific needs.”
Additionally, a handful of other Social Current network organizations are working with local Bank of America teams to offer Better Money Habits trainings to their community members across the lifespan.
Social Current is in its third year of collaborating with Bank of America to support communities in becoming more financially resilient by connecting people to the tools, resources, and education they need to help them achieve their financial goals.
Learn more about advancing social and economic mobility so that all families and communities can thrive:
- Socioeconomic Mobility (Case Studies and White Papers)
- Mobility Mentoring® as 2-Gen Brain Science (Webinar)
- New Journal Articles on Improving Financial Well-Being to Help All Families Thrive