BOSTON, Jan. 24, 2024 /PRNewswire/ — The National Financial Educators Council® proudly announces the launch of its Massachusetts affiliate body, the Massachusetts Financial Educators Council℠ (MFEC). The MFEC professes a stated mission to create economic empowerment initiatives across Massachusetts that have real-world impact on individuals and communities; and are capable of being sustained and taken to scale.
The Massachusetts Financial Educators Council℠ was formed to help address the multiple economic challenges Bay Staters encounter, according to data recently gathered and updated. Although the Massachusetts poverty level is under 10% (9.3% according to the U.S. Census Bureau), that number still represents more than 678,000 individuals living in poverty in the state. The most recent statistics also show that many Massachusetts families face food and housing insecurity. And as of 2022, the Bay State earned a “C” grade for its financial literacy standards in schools. This information helps illuminate the path ahead for the MFEC to target its campaigns for optimal impact.
Three pillars stand at the foundation of the Massachusetts Financial Educators Council’s mission: 1) make sustainable financial education programming accessible to all Bay Staters; 2) raise awareness and garner support to encourage economic empowerment via financial education; and 3) forge strong partnerships to deploy and sustain financial wellness programs, community by community.
With generous funding from Ellis Cropper, Founding Member of the Massachusetts Financial Educators Council and Advisory Board member, the MA Chapter is well-positioned to empower beneficiary organizations and individuals throughout the state through financial education programming. Thanks to Mr. Cropper’s support, the chapter is ready to make a significant impact on financial education in the region.
An Advisory Board of distinguished members has been formed to help the MFEC accomplish this vision. Advisory Board members undertake a wide range of roles to support the organization’s leadership toward achieving its social impact goals. The MA Financial Educators Council Advisory Board to date comprises the following members:
- Ellis Cropper, Ellis Cropper, Registered Representative, New York Life Insurance Company, ChFC®, CLTC®, Major, U.S. Army, Retired.
- Mahendra Pattni, Head of Finance, Bill & Melinda Gates Medical Research Institute
- Elizabeth Clark, Chief Information Officer, Harvard Business School
- Andrew Lendnal, Financial Wellness Expert, Banking and Financial Services Executive, Bestselling Author and Speaker
- Mary Ellen Normen, Administrator for Business and Finance, Lincoln Public Schools
- Jacqueline Collins, 2021 National Business Teacher of the Year
As Vince Shorb, the NFEC’s CEO, comments, “We are excited to announce establishment of the Massachusetts chapter of our organization. This launch represents an opportunity to serve people and organizations across the Bay State with greater economic empowerment.” Shorb adds, “We sincerely appreciate the efforts of Ellis Cropper and all our advisory board members, patrons, and partners to guide initiatives that make a lasting impact on the financial health of Massachusettsans.”
The National Financial Educators Council® supports its Massachusetts Branch by providing the necessary materials, resources, and processes needed to provide individuals and organizations with access to financial wellness programming across the state. The NFEC also produces many Massachusetts graduates from its Certified Financial Education Instructor (CFEI®) training, making a pool of highly-qualified financial educators available in the area.
The Massachusetts Financial Educators Council℠ is one state-level chapter of the National Financial Educators Council (NFEC). The NFEC – a Certified B Corporation and Accredited Provider of financial education through IACET – mobilizes a worldwide team of champions and advocates, empowering them with state-of-the-art resources and training to raise the financial health of global communities.
SOURCE National Financial Educators Council