November 24, 2017

Woodforest National Bank®and Family Promise® Launch Three New Financial Capability Initiatives to Empower Low-Income Families Nationwide

The Woodlands, Texas - Woodforest National Bank and Family Promise, the leading national nonprofit providing comprehensive services and support for families experiencing homelessness, are expanding their three-year community partnership to introduce and expand their efforts to help low-income families gain financial understanding and capability.

Woodforest and Family Promise

Pictured from left to right: Sedrick McCallum, Community Development Team Leader, Claas Elhers, CEO, Family Promise, and Daniel Galindo, Vice President, CRA Strategic Initiatives Director

"We are extremely grateful to continue our innovative programming with Family Promise and its Affiliates to expand delivery methods by digitizing New Beginnings, a financial capability curriculum developed in 2014. Collectively we've educated thousands of families and individuals, and it feels great to empower our local communities with the knowledge to make educated decisions for their financial needs," said Doug Schaeffer, CRA Executive Director, EVP, Woodforest National Bank.

  Woodforest and Family Promise, second picture

Pictured from left to right: Della Spencer, Community Development Relationship Officer, Woodforest National Bank, Cathy Nash, President and CEO, Woodforest National Bank, Claas Elhers, CEO, Family Promise, and Daniel Galindo, Vice President, CRA Strategic Initiatives Director

He continued: "We're also excited to further our collaboration with Family Promise by creating a responsive, micro-enterprise curriculum focused on strengthening financial capability. This endeavor adds new resources to Family Promise's already expansive program offerings and is key for micro-enterprise development in areas that need it most. Overall, our community partnership with Family Promise helps us make a direct impact in the communities we serve, and we look forward to continuing this momentum."

In 2014, Woodforest National Bank and Family Promise teamed up to create New Beginnings, an extensive financial capability curriculum designed to address the needs of low-income families. The curriculum provides lessons in budgeting, credit, saving, banking and smart shopping.

Here is a snapshot of the new initiatives Woodforest National Bank and Family Promise will start rolling out in 2018:

  • Digitize New Beginnings – develop a web-based, interactive tool to help families increase their financial skills, reinforce lessons graduates learn while in the Family Promise classroom program and create an online resource center for other community organizations serving low-income individuals.

  • Micro-Entrepreneurial Initiative – engage and motivate individuals to go beyond basic financial concepts to begin some level of enterprise, such as creating a stand-alone business or additional income.

  • Financial Capability Program — teach families to make sound financial decisions to improve their overall financial health while positioning them for greater financial stability and mobility.

Family Promise CEO, Claas Ehlers, echoes this shared commitment: "We are thrilled to expand the community partnership with Woodforest National Bank. This collaboration has been incredibly valuable to the families we serve, our Affiliates, and Family Promise nationally. Woodforest understands the need to invest in communities and people, and shares our belief that skills and assets can move families not just from homelessness but to sustainable independence. We are fortunate to partner with such a visionary corporation."


About Woodforest

Celebrating 37 years of banking service, Woodforest National Bank has successfully stood among the strongest banks in the nation, proudly offering outstanding quality customer service since 1980. Woodforest was recently awarded the highest 5-star superior rating for a 5th consecutive year by BauerFinancial, Inc, the nation's leading independent bank and credit union rating and research firm, Woodforest currently operates banking offices and over 700 branches in 17 states across the United States.

About Family Promise

Founded in Summit in 1988 to address homelessness in Union County, Family Promise has grown into a national organization with 200+ Affiliates in 43 states. Since its inception, Family Promise has served more than 750,000 people, the majority of them children. Family Promise Affiliates served nearly 70,000 people last year by providing shelter, food, and a host of other comprehensive support services. On average, 74% of the families served by Family Promise secure housing within nine weeks of entering the program. For information about Family Promise, please visit www.familypromise.org.

Media Contact

Cindi Stewart
Sr. Vice President-Public Relations Director
Woodforest National Bank
832-375-2508
cstewart@woodforest.com

Doug Schaeffer
CRA Executive Director, EVP
Woodforest National Bank
212-203-1428
dschaeffer@woodforest.com

Woodforest National Bank

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