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The T-CETRA Foundation launched in 2020 to increase financial empowerment and technology access for the un/derbanked population. Without access to credit, this cash preferred group is often cut off from essential, digital and streaming services enjoyed by persons with a credit card or bank account.
Further exacerbating this digital divide is limited access to technological tools and training that can help the un/derbanked thrive vis-a-vis their banked peers. At the T-CETRA Foundation, we’re here to connect them to opportunities to improve their financial health and their access to technology by strategically and philanthropically directing our charitable contributions to address the evolving needs of the un/derbanked community.
Financial literacy leads to financial health and can be a social determinant of overall economic, mental, and physical health. We believe that understanding basic concepts about managing money and recognizing predatory lending practices at a young age enables individuals to pay bills on time, earn good credit, and ultimately have the means to save, invest, and spend wisely throughout a lifetime.
Growing research has established a links between high-cost loans and negative health impacts.
Payday loan use and stresses involved with living in a debt trap were associated with higher blood pressure, BMI and waist circumference, as well as cardiovascular disease and metabolic risks. (University of Massachusetts–Boston and Northwestern University, 2018)
Financial skills are critical to breaking the cycle of poverty, particularly indebtedness, which disproportionately affects un/derbanked communities. Developing these skills at a young age empowers kids and sets them up for success as adults to make sound financial decisions throughout their life. By providing the tools to critically assess things like predatory loan terms and developing strong savings habits, we can lift up individuals and communities.
Financial literacy leads to financial health and can be a social determinant of overall economic, mental, and physical health. We believe that understanding basic concepts about managing money and recognizing predatory lending practices at a young age enables individuals to pay bills on time, earn good credit, and ultimately have the means to save, invest, and spend wisely throughout a lifetime.
Growing research has established a links between high-cost loans and negative health impacts.
Payday loan use and stresses involved with living in a debt trap were associated with higher blood pressure, BMI and waist circumference, as well as cardiovascular disease and metabolic risks. (University of Massachusetts–Boston and Northwestern University, 2018)
Financial skills are critical to breaking the cycle of poverty, particularly indebtedness, which disproportionately affects un/derbanked communities. Developing these skills at a young age empowers kids and sets them up for success as adults to make sound financial decisions throughout their life. By providing the tools to critically assess things like predatory loan terms and developing strong savings habits, we can lift up individuals and communities.
"We are very proud to support the underbanked through the T-CETRA Foundation and believe the foundation will uplift and empower the underserved by providing access to the financial tools, acumen and technology needed for individual success and upward economic development in their communities."
Gifts to the T‑CETRA Foundation are tax deductible as permitted by law.
The T‑CETRA Foundation is a component fund of The Columbus Foundation (EIN: 31-6044264).
© 2021. The T-CETRA Foundation. All Rights Reserved. www.tcetrafoundation.org