We view financial education as an investment in our collective future.
At U.S. Bank, we view financial education as an investment in our collective future. It is the key to helping our customers and their families unlock their financial possibilities.
That is why we support programs and organizations that educate and empower people in all stages of life. In 2017, our employees reached more than 200,000 people by spending 12,000 volunteer hours hosting 3,400 financial education seminars, from teaching elementary students banking basics to helping seniors prevent financial fraud.
Cleveland nonprofit Empowering and Strengthening Ohio's People (ESOP), has become a community cornerstone during the past two decades, thanks to a steadfast focus on its clients’ futures.
people through financial education
The organization, which focuses on economic empowerment, saw an opportunity when it realized that many of the clients using its free tax prep assistance were spending their tax refund money as soon as, or before they received it.
Seeking to make this a “teachable moment,” ESOP partnered with U.S. Bank to help develop a program that would educate and position its clients with sustainable financial success. The result was the Learn and Earn Account Program in which the organization’s clients can earn up to $500 in matched savings if they complete financial education classes over the course of a year.
In the program's first year, its graduates, on average, increased their savings by $900, decreased their debt by $1,500 and improved their credit score by 20 points. For example, it helped one 70-year-old client pay off his car debt, pay down an additional $3,000 in credit card debt, and increase his savings by $1,400, boosting his credit score by 43 points and, most importantly, pave the way to confidently step into the next phase of his life: retirement.
“In partnership with U.S. Bank, ESOP is providing our clients with the education, skills and tools to develop good savings habits needed to cover unforeseen emergencies, begin to build assets, and prepare for retirement,” said Roslyn Quarto, executive director of ESOP.
Through its partnership with ESOP, U.S. Bank helps individuals complete financial education courses and set them up for sustainable financial success.
financial education seminars