October 5, 2018

KeyBank Foundation gives $300K grant for financial literacy

KeyBank presented a $300,000 check to CAHS as part of grant to promote financial literacy on Monday.

The KeyBank Foundation has pledged a three-year grant of $300,000 to the Connecticut Association for Human Services (CAHS) to help lift lower-income residents of New Haven and Connecticut toward economic self-sufficiency.

With $100,000 allotted over each of three years, the KeyBank grant will support the BankOn New Haven initiative, the city of New Haven's Financial Empowerment Center and CAHS' financial literacy programs. The money is intended to help CAHS provide financial education to unbanked and under-banked individuals and families, help them reduce debt, improve credit health and access KeyBank products and services.

"At the core of KeyBank's community commitment is helping our neighbors thrive financially through responsible banking and responsible citizenship," said KeyBank Market President Jeff L. Hubbard. "We are proud to partner with CAHS and the city of New Haven to empower low- and moderate income residents to realize their financial goals."

The Financial Empowerment Center was created by New Haven's Financial Empowerment Commission, convened by Mayor Toni N. Harp two years ago to bring together local public officials, government agencies, financial institutions and community organizations to work together to improve the financial stability of lower-income individuals and families.

"In this digital age, we know a secure financial future requires hands-on familiarity with the terms and the tools of routine banking, credit and retail transactions," said Harp. "This is where the Financial Empowerment Commission comes into play, with programs underwritten by KeyBank, to help residents improve their financial literacy and identify immediate, mid-range and longer-term strategies to help maintain financial independence."

Founded in 1910, CAHS seeks to promote family economic security strategies that empower low-income working families to achieve financial independence.

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