Bank of America Supports Western Massachusetts Financial Literacy Programs

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Cambridge Credit Counseling Corp. awarded $30,000 grant to educate local residents

We are grateful to Bank of America for investing in the success of our educational programs.

Cambridge Credit Counseling, a 501(c)(3) non-profit organization, was recently awarded $30,000 by the Bank of America to continue its free financial literacy courses. Cambridge’s seminars are provided to veterans and their families, high school and college students, as well as other groups throughout Western Massachusetts. In addition, the Bank of America grant will support the development of new curriculum to meet the evolving needs of local residents.

“There is a startling lack of financial knowledge in Massachusetts and across the country, particularly among the groups Cambridge serves,” noted Bob Gallery, Bank of America Massachusetts president. “The best way to improve long-term financial success is by changing habits, and that starts with education.”

“We are grateful to Bank of America for investing in the success of our educational programs,” remarked Christopher Viale, Cambridge’s President and CEO. “We look forward to their continued support so we can continue to help local residents build a solid financial foundation.”

With Western Massachusetts poised for economic growth due to the casino project, the area’s budding entrepreneurial ecosystem, and the advent of high-speed rail, the needs of residents will change dramatically over the next few years. This funding will help Cambridge Credit Counseling maintain vital programs and introduce new curricula to meet those needs. In particular, the funding will help Cambridge expand its outreach to veterans and college students, and support new initiatives to encourage entrepreneurship.

“Cambridge’s financial literacy programs have a profound impact on our community,” noted Thomas Fox, Cambridge’s Community Outreach Director. “We’ve helped formerly homeless families regain their independence, aided veterans who needed help stabilizing their finances, and empowered thousands of local young people to take their financial life more seriously.”

The majority of participants in Cambridge’s financial education programs are individuals and families from low- to moderate-income households. Cambridge employees conduct seminars at a variety of locations throughout the community, providing information on topics such as budgeting, building savings, proper credit management, student loan repayment, and housing. During 2012, Cambridge provided 442 free community seminars, educating more than 4,800 residents of Western Massachusetts. Anyone interested in hosting Cambridge’s financial literacy courses is encouraged to contact Thomas Fox at 413-241-2362.

ABOUT CAMBRIDGE CREDIT COUNSELING
Cambridge Credit Counseling Corp. is a professional housing and credit counseling agency dedicated to educating young adults on the importance of sound financial management, and to providing financially distressed Americans with education and debt management services appropriate to their needs. Visit Cambridge Credit Counseling online at http://www.cambridgecredit.org.

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Thomas Fox
Cambridge Credit Counseling Corp.
413-241-2362
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