Enhancing Financial Literacy
M&F Bank: Helping Individuals Build Financial Success
Financial Literacy Is Important For All of Us
Real community banking means giving something back to the community. Since 1908, M&F Bank has helped people across North Carolina build financial success, and our Financial Literacy Initiative is just one more example.
Financial education fosters financial stability for individuals and for entire communities. The more people know about personal financial management, the more likely they are to increase savings, buy homes, and improve their overall financial health and well being. Studies conducted by the Jump$tart Coalition for Personal Financial Literacy found that states with high numbers of adults declaring personal bankruptcy also have high numbers of 12 th graders who are financially illiterate. In addition, a national survey commissioned by the Consumer Federation of America (CFA) and Financial Planning Association (FPA) indicates that less than one-half of Americans have developed a financial plan, while the number of people who worry about their personal finances has increased.
These are some of the reasons that M&F Bank is determined to help increase the level of financial literacy among citizens of the communities we serve. An essential element of our mission statement describes our commitment to supporting community development, and we believe helping people become better financial decision makers is vital to developing stronger communities. It's what we have believed in and the way we've done business since 1908. As we approach our 100 th anniversary, we know that strong communities will improve the quality of life for us all.
What We Do
Our approach combines the financial acumen of our staff with the Money Smart program developed by the Federal Deposit Insurance Corporation (FDIC), and the Teach Children to Save and In Charge curricula developed by the American Bankers Association Educational Foundation. Information is presented in informal, workshop style presentations that are tailored to the specific needs of the audience, at no cost . Topics may range from the basic principals of saving, preparing a financial plan, the cost and impact of credit, understanding different bank accounts, or preparation for becoming a homebuyer, depending on the interests and needs of each group. Groups who have benefited from M&F Bank's financial literacy program include the students and faculty of public schools, colleges and universities, as well as numerous nonprofit organizations and church congregations.
If you would like to discuss setting up a financial education workshop for your school, church or community organization, please contact one of the following M&F Bank representatives:
112 W. Parrish St.
13 E. Hargett St.
101 Beatties Ford Rd.
770 Martin Luther King, Jr., Blvd.