PROVIDENCE – The Partnership for Financial Literacy, a program sponsored by Cranston-based Domestic Bank, has launched a new Web site, www.
partnershipforfinancialliteracy.
org.
Bank officials say the site serves as an online resource for educational tools and learning opportunities in financial literacy.
“The launch of the Web site marks a new milestone in our endeavor to help people establish the right foundation for managing their personal finances,” said Dean Holt, president and CEO of Domestic Bank.
“Financial literacy is a force that will fuel our economy and help to facilitate individual success and prosperity. We all want to rise above these economic challenges and Domestic Bank is working closely with other vital community organizations to provide ongoing tools and courses to meet the changing needs of our community.”
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Last year, the bank was fined $1.8 million for lending practices of a now-closed mortgage subsidiary that federal regulators described as “unsafe and unsound, deceptive [and] inconsistent.”
As part of the penalty, Domestic agreed to pay $1 million to support financial literacy and credit counseling programs, according to orders from the U.S. Office of Thrift Supervision.
This year, Domestic Bank has hosted two roundtable meetings, bringing 11 community partners together to discuss best practices, ideas and program details. This collaboration has allowed the organizations to share curriculum, skills and ideas; helping them to delivering educational programs in the community, the bank said.
The content on the Partnership for Financial Literacy Web site is available in both Spanish and English.
Participating organizations in the Partnership for Financial Literacy include Progreso Latino, the Urban League of Rhode Island, the United Way of Rhode Island, the Episcopal Diocese of Providence, Holy Name Parish of Fall River, the J. Arthur Trudeau Memorial Center, Latino Public Radio, Pro-Home Inc., RI JumpStart Coalition, Jewish Family Service of Rhode Island and Money Management International.
Domestic Bank, founded in 1963, is a federally insured bank serving Rhode Island and nearby Massachusetts via its Cranston headquarters plus eight in-store branches. To learn more, visit www.DomesticBank.com.
