(December 27, 2013) -- South Carolinians are facing the worst poverty rates in over a decade. According to the latest United State Census Bureau, the state’s poverty rate is now reported to be at 18.3 percent with the poverty rate for children at 27 percent1.
As these reports paint the vivid picture of poverty throughout South Carolina, Heritage Trust Federal Credit Union is determined to provide the Lowcountry’s underserved with financial literacy programs throughout local communities for members and non-members alike. With programs specifically designed for participants of all ages, from elementary-aged children and their families to individuals earning their GED, Heritage Trust hopes that their efforts can help individuals learn the tools that they need for financial success.
“While providing quality services and products to our members is important, we also understand the importance of helping those around us,” Jim McDaniel, CEO of Heritage Trust shared. “We know that there are hundreds of families and individuals in our reach that could benefit from the financial knowledge we have gained over the years and we want to be sure that they know we care for their financial well-being.”
Gear Up is a Charleston County School District program that is designed to help educate and follow economically challenged students from 7th grade to graduation. Heritage Trust assists with the program by providing workshops, like budgeting and preparing for college, for both students and their parents.
“Gear Up is a phenomenal way for us to help establish healthy financial habits with younger members of our community while engaging their parents, as well,” add McDaniel.
Heritage Trust works with BankOn Charleston, an initiative run by the Greater Charleston Empowerment Corporation. BankOn’s goal is to assist lower income and credit challenged families through financial classes. What sets this program apart is that upon completion of the class, participants can open an account with participating financial institutions like Heritage Trust, which is the only credit union amongst the nine participating institutions. The first graduate of the program opened an account at Heritage Trust’s Rivers Avenue branch in North Charleston.