NBCI and TrustEgg Partnership Takes Off
WASHINGTON, DC – The National Black Church Initiative (NBCI), a faith-based coalition of 34,000 churches comprised of 15 denominations and 15.7 million African Americans, announced on May 19th, 2014 a ground-breaking strategic partnership to offer TrustEgg’s expertise and resources to NBCI’s nationwide membership base, helping one million children start savings accounts. This collaboration will leverage TrustEgg’s financial resources to help bridge the socioeconomic divide affecting the black faith community, adding to the 125,000 families NBCI has already educated on financial literacy issues.
TrustEgg was officially launched in 2013, when Jeff Brice brought his vision of an easy-to-use savings solution for his niece’s future to life, one that could be shared with the entire family. With the impact of social media TrustEgg’s reach flourished, and Brice had created a revolutionary child savings product, leveraging the power of social networks such as Facebook and Twitter.
“This is a wonderful addition to NBCI’s portfolio of financial wellness plans. Combining TrustEgg’s expertise and tools with our 15.7 million-strong membership base opens new doors for the African American community” said Rev. Anthony Evans, NBCI President. “As a leader in housing and financial issues for the Black Church, we are in a strong position to convey the importance of savings, and TrustEgg’s tools finally present this important resource in a way that speaks our congregants’ language. We are thrilled to see the benefits this partnership will undoubtedly create.”
African American families save substantially less over the course of their lives, risking the financial health of their children and themselves. According to the Brookings Institution, the median financial assets of African American households age 70 or older is about $300 in financial assets compared to $13,000 held by the median retired household nationwide.
