Banking Services Reports

Expanding Financial Skills in Low-Income Communities: A Framework for Building an Effective Financial Education Program (The Framework) is an exploration of the Committee’s questions on financial training effectiveness, which incorporates a review of current research on adult education as well as tools, resources, and examples from the field. The Framework is a guide for non-profit executive directors, trainers, financial, institutions, and others who hope to learn from best practices in financial education training for adults. It is based on academic research, case studies, and practical tips from practitioners from Eastern Massachusetts. Above all, it recognizes that the learning process is complex, and powerful when supported by thoughtful design, meaningful partnerships, and effective training methods.

In December 2007, the Massachusetts Community & Banking Council (MCBC) helped to organize “Working Together to Build Wealth in Lower-Income Communities,” a forum on strategies for financial institutions, community-based organizations and public programs to expand access to financial services, financial education and asset development.  This report is intended to share the experience and findings of that meeting with other financial institutions, community organizations and public officials.