Community Overview: The Mississippi Delta Community Financial Access Pilot (CFAP) will principally serve communities in rural counties across Delta region of Mississippi and parts of northern Mississippi, including: Bolivar, Clay, Grenada, Leflore, Lowndes, Marshall, Desoto, Sunflower and Washington. The region is marked by high and persistent poverty, particularly among African-American residents. The Mississippi Delta CFAP will employ a number of initiatives to reach underserved populations in the region with financial education and access to financial services.
Initiative Overview: In partnership with Delta State University's Center for Community and Economic Development, the CFAP provides financial education and access to financial services to AmeriCorps*VISTA (Volunteers in Service to America) volunteers, who provide full-time assistance to nonprofit, faith-based and other community organizations, and public agencies to create and expand programs that bring low-income individuals and communities out of poverty. This aspect of the initiative will: enhance the financial literacy of VISTA volunteers in the region and give them access to financial products that will put them on the path of wealth-building, and help volunteers plan to achieve their financial goals. Once VISTA volunteers have this financial background, they will be able to share the message about the importance financial education and financial access with the community organizations that they assist around the region.
Additionally, with the Institute of Community Services, Head Start Inc., the CFAP provides financial education and access to low-cost financial services to the parents of the Head Start program participants. The Institute of Community Services, Inc. provides comprehensive child-development services to children and families in northwest Mississippi, including 20 Head Start centers in 13 counties. These facilities serve economically disadvantaged children and families, with a special focus on helping preschoolers develop the early reading and math skills they need to be successful in school. This aspect of the initiative provides similar services as those described above, and will help parents educate their own children about sound financial behaviors, and plan for their children's higher education.
Partner Organizations as of May 2009:
- BancorpSouth
- Cleveland State Bank
- Delta Service Corps AmeriCorps
- Delta State University Center for Community and Economic Development
- Education Services Foundation
- Federal Deposit Insurance Corporation.
- Federal Reserve Bank of St. Louis
- FirstView
- Hope Community Credit Union
- Institute of Community Services, Head Start
- Ministerial Association
- Regions Bank
- U.S. Department of the Treasury, Office of Financial Education
For more information contact: Naomi Vernon, Community Consultant at Naomi.Vernon@treasury.gov
Last Updated: May 15, 2009