Consumer Financial Education Fund

_NOTE:  The Consumer Financial Education Fund will not be offered in 2025. This fund is only active when we receive a cy pres distribution related to a consumer class action litigation._

Consumer Financial Education Fund

The Consumer Financial Education Fund supports projects that relate to consumer financial education, with an emphasis on issues related to just and equitable banking, basic banking, financial literacy, access to financial services, retail banking accounts, and underbanked and/or vulnerable populations.

Funding

It is expected that most proposals will be for 12-month grant periods; however, multi-year proposals are encouraged where appropriate. The maximum grant amount is $100,000, even for multi-year proposals.

Eligibility

_You can learn more about this opportunity by visiting the funder's website._

• Applicants must meet all the following criteria to qualify for this fund:
  • The applicant must demonstrate expertise in consumer education or advocacy, especially related to financial literacy.
  • The applicant must be a 501(c)(3) nonprofit or be fiscally sponsored by a 501(c)(3) nonprofit.
  • Nonprofit colleges, universities, university clinics and graduate programs are eligible to apply, but university overhead is limited to 5% of grant awards.
  • An applicant’s principal place of business must be in the United States. For 2024, the project must be conducted in one or more of the following states:
  • Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, or Washington, D.C.
• The Project must be designed to serve vulnerable and/or underbanked populations including low-income communities of color, individuals and families, students, veterans, and non-English speakers and conducted by organizations that have a demonstrated track record of working with these communities.
• Proposals must relate primarily to financial education issues or fair and equitable banking practices and be targeted towards users, regulators, and enterprises residing in the United States.
• Examples of allowable educational activities include teaching adults and children about financial issues and increasing their financial literacy, including community workshops, classroom presentations, trainings, conferences, and webinars, especially including information about overdraft fees and how to avoid them.
• The Project Team must have demonstrated experience working with their targeted population

Ineligibility

• Projects may not use this grant funding to engage in the following activities:
  • Electioneering or other political or religious activities prohibited by IRS 501(c)(3) regulations.
  • Activities primarily targeted or conducted outside of the United States.