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A new financial education program is making its way to Historically Black Colleges and Universities (HBCUs) with the help of Jay-Z. According to a news release shared with AFROTECH™, the Shawn Carter Foundation, with support from Toyota Motor North America, is launching the Champions for Financial Legacy (CFFL) program in time for Spring 2025. To start, the program will benefit students at Lincoln University, Norfolk State University, and Virginia State University, offering a financial curriculum structured around real-world applications. “We are excited to see our partnership with the Shawn Carter Foundation evolve to include this innovative initiative,” said Monica Womack, general manager of diversity & inclusion and community engagement at Toyota, per the release. “One that not only provides resources to HBCU students but also reaches the heart of the community, through advocacy for financial literacy.” The curriculum, developed in collaboration with the Coalition for Equity and...
Historically Black Colleges and Universities (HBCUs) have been the bedrock of Black communities since the founding of Cheyney University of Pennsylvania, which is credited as the nation’s first HBCU. Since then, hundreds more HBCUs have been founded with the intent of serving Black students during times of deep segregation and racism. Although the world has become more progressive since then, the need for these institutions has proven to be vital community pillars — not just for Black students but for the world. With notable alums like Dr. Martin Luther King, Jr., Kamala Harris, Toni Morrison, Stacey Abrams, and Thurgood Marshall from various HBCUs, these institutions produce noteworthy people who impact the world across different industries. Every year, the U.S. News & World Report releases a list of the nation’s top colleges and universities. The publication also ranks HBCUs according to a specific methodology that uses “quantitative and qualitative measures that education experts...
A new Black-owned financial institution could emerge west of Texas. The Sacramento Observer reports that the Black-led investment group Redemption Holding Co. (RHC), led by former White House Policy Advisor Ashley D. Bell, wants to acquire Holladay Bank & Trust in Holladay, UT. If planning is approved, the Utah financial institution will be renamed Redemption Bank , per the outlet . What’s more, it would become Black-owned and serve as the only Minority Depository Institution, which offers financial services to underserved populations, west of Texas. As CEO of Black-owned fintech startup Ready Life , Bell helps underserved communities start on the path to homeownership. “All of us require a bank to operate, and the reality was there was no Black-owned bank that we could sit on top of to operate with the way we’re currently constructed,” he told The Sacramento Observer. He continued, “Therefore, we are dependent on other communities and banks to allow us to do that service. So the...
