First Americans to Get Innovative Financial Education on Last Day of Financial Literacy Month

WASHINGTON, DC--(Marketwired - Apr 30, 2013) - In an effort to expand its reach to underserved communities, The Community Financial Education Foundation (CFEF) has joined with the Native Financial Education Coalition (NFEC) to donate 1,000 subscriptions to teach financial life skills in a pilot program with three tribal entities. 

Timed to launch on the final day of Financial Literacy Month, MyStartingPoint will provide 29 videos and a personalized, self-paced and entertaining system to learn any of its four basic areas: Budgeting and Saving, Money Matters, Borrowing Basics, and Credit Management.

"While it is an online program, it isn't the same as just visiting a website," Sherry Black, NFEC Coordinator said. "It provides a new-age way for people to learn, using videos, and accomplishing their goals through a personalized and outcomes focused account. We are pleased at this commitment to Indian country."

The program also includes a monthly newsletter incorporating additional financial education tips, along with a wide array of motivating incentives, allowing users to win special gift cards as they reach financial-learning goals.

The three recipients include:

• The Navajo Partnership for Housing: serving the Navajo Housing Nation. An area the size of the state of West Virginia and with 202,000 residents.
• Choctaw Housing Authority: serving the Southeastern sector of the state of Oklahoma, an area that encompasses nearly two-thirds of the state recognizes the opportunity that using an online program can bring.
• Chief Dull Knife Tribal College, on the Northern Cheyenne Indian Reservation, Southeast Montana.

Valerie Powell, Director of the Choctaw Home Finance Corporation, a subsidiary of the Choctaw Housing Authority said, "This is a very generous gift and valuable opportunity for our counseling program to serve our Choctaw members with such an innovative online service."

"It is very exciting to have Navajo Partnership for Housing able to utilize new and innovative ways to outreach across the vast expanse of the Navajo Nation. This donation allows us to have a new tool to work with people on their financial development. This online credit education allows us to innovatively use cyber technology to reach a much larger population than we would otherwise be able to physically reach, given our resources and large service area," added Timothy Horan, Executive Director of Navajo Partnership for Housing, who is contracted by Navajo Housing Authority to provide financial education and housing counseling to the members of the Navajo Nation. The Navajo Partnership for Housing is the only Native Affiliate of the Neighbor Works America network and practices full cycle education, counseling and lending.

The third recipient is to Chief Dull Knife College in Southeastern Montana located on the Northern Cheyenne Indian Reservation. NFEC member, Yvonneda "Henry" Thompson, Extension Service Director, provides non-formal education to the Northern Cheyenne community. The Extension Office coordinates with other tribal College programs, local organizations and non-profits to provide financial education to students and community members. "Having these valuable resources available to our students and community members via the internet will allow us to reach out to more individuals and families wanting to better manage their financial resources. I am excited to share this opportunity with our local financial education team with an end result of creating a community of financial savvy people."

"We are pleased to make this commitment to Indian country to help tribal governments expand their financial education efforts with our unique program that defies geographical barriers through the use of cyber technology," said CFEF Executive Director Jane DeMarines.

About Community Financial Education Foundation: CFEF, a 501(c) 3 non-profit, is a leading innovator in the field of financial education, educating consumers and connecting them to financial products and services that help to inform and improve their behavior.

Native Financial Education Coalition: The Native Financial Education Coalition (NFEC) is a "movement" to recognize, expand and enhance financial capability in Native communities. Partner organizations include tribes, tribal organizations, national, regional, local Native and non-Native organizations, financial institutions, federal agencies, Congressional offices, and others interested in Native financial education. More information can be found here: http://www.ncai.org/initiatives/nativefinancial-ed/nfec