Financial institutions give back to help kids prepare for future

BY RANDAL MAYS
Fort Worth Business Press
April 21, 2008

For decades, financial institutions have been viewed as cornerstones of support throughout the community. Fort Worth and Tarrant County benefit from the generosity of its local banks, credit unions and other financial institutions, which provide money and a volunteer base to local organizations and community initiatives, such as Junior Achievement.

In 1977, Congress passed the Community Reinvestment Act, which encourages depository institutions to help meet the credit needs of the communities in which they operate, including low-and-moderate-income neighborhoods. Junior Achievement of the Chisholm Trail, partners with financial institutions and other local businesses to provide a means to reinvest in the community through financial literacy education and meet the CRA requirements.

This type of partnership truly makes a difference in the lives of children, thus the community. Studies show that individuals who do not understand the purpose of financial institutions or how to use their products and services are at a distinct disadvantage when it comes to their personal finance management....

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Randal Mays is president of Junior Achievement of the Chisholm Trail Inc., a youth development organization based in Fort Worth that serves children in Tarrant, Parker, Johnson, and Wise counties. For more information, visit www.jafortworth.org.