Black America Saves launch

“When my money got low, the number of friends I had did too,” said Actor and Activist Clyde Jones. Jones shared his inspirational financial story, where he went from living a life of luxury to being “flat broke,” with students at an educational forum held in Denver during the Democratic National Convention. The forum marked the official recognition of the establishment of Black America Saves, a national coalition within America Saves.

The forum dovetailed a town hall meeting sponsored by the Black Caucus Institute, where students listened to prominent members of the US Congress including, Charles Rangel (D-NY), Maxine Walters (D-CA), James Clyburn (D-SC) and Shelia Jackson Lee (D-TX). The all-day event was supported by America Saves, ColoradoSaves, and TCF Bank. Students were given an overview of banking services and received important tips on how to save while still in school, purchase an automobile, and use credit wisely.

Mable Banks, 72 year old member of ColoradoSaves, advised students to “start early and stick to it.” Mable also asked students to recite the Saver’s Pledge with her.

I Pledge

To spend less than I earn;
To avoid long-term, high-interest debt;
To invest in a home, college education, or another appreciating assets; and
To prepare for retirement.

Membership in any of the Saves’ programs is free. Among other benefits, enrolled savers gain access to free financial planning advice.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.