“MoCaFi Empowers South L.A. Community with Free Pop-Up Banking Event”
Point 1:
– MoCaFi, a financial tech firm focused on closing racial wealth gaps, is hosting a free event called “On Our Block” in Watts.
– The event aims to engage residents in financial literacy and provide them with the tools they need to build wealth, featuring discussions on credit building, transitioning to homeownership, and a wealth empowerment session.
Point 2:
– MoCaFi’s “On Our Block” events have been held in various cities across the US, addressing social inequalities and educating communities of color on financial literacy.
– The event in Watts is in partnership with Mastercard, the Think Watts Foundation, TransUnion, and SGL, offering attendees the opportunity to learn from community leaders and receive personal finance assessments.
Elaboration:
MoCaFi, a financial tech firm dedicated to closing racial wealth gaps and expanding access to quality banking services in underserved communities, is hosting a free pop-up banking event called “On Our Block” in Watts. Taking place at Ted Watkins Memorial Park on Saturday, August 26 from 12 noon to 3 p.m., the event aims to empower residents with the tools they need to build wealth.
Organizers of the event emphasize its focus on financial literacy and providing a personal pathway to building wealth. In partnership with Mastercard, the Think Watts Foundation, TransUnion, and SGL, “On Our Block” will feature a keynote panel on transitioning from renting to homeownership. Led by MoCaFi team members and community leaders, the event will also offer personal finance assessments.
MoCaFi has previously organized “On Our Block” events in New York, Birmingham, St. Louis, and Ferguson. The organization was founded by Black entrepreneur Wole Coaxum with the goal of addressing social inequalities following the police shooting death of an unarmed Black teenager in Ferguson. MoCaFi’s efforts to educate communities of color on financial literacy have been recognized by the Think Watts Foundation.
During the event, attendees will have the opportunity to participate in discussions on building credit, transitioning from a lease to a mortgage, and a wealth empowerment session with local entrepreneurs, executives, financial advisors, and life coaches. Additionally, there will be food, drinks, and music by L.A. DJ Bad. The first 100 attendees with a MoCaFi bank account will receive a $100 deposit on-site.
According to MoCaFi, approximately 30 million Black and Hispanic Americans are unbanked or underbanked, resulting in fees for basic banking services. The organization’s “On Our Block” events aim to address this issue and provide access to low-cost banking services.
Future “On Our Block” events are scheduled for September 9 and October 14. For more details, visit Mocafi.com/onourblock.
Source: www.dailynews.com