Wells Fargo Beyond College Webinar Series

Introduction

• Hosted by Wells Fargo in collaboration with the Thurgood Marshall College Fund.
• Focus on financial literacy, specifically credit education.
• Dewey Norwood introduced as a key leader in the HBCU strategy for Wells Fargo.

Key Highlights from Dewey Norwood

• Wells Fargo's significant market presence:
  • $1.9 trillion in assets.
  • Banking relationships with 1 in 3 U.S. households.
  • Participation in small business financing.
• Strategic investments in higher education, specifically HBCUs:
  • $107 million invested over the past 10-12 years.
  • $34 million towards HBCUs.
  • Partnerships with organizations like TMCF and UNCF.
• Virtual presence and audience engagement through social media and the YouTube channel.

Thurgood Marshall College Fund (TMCF)

• Betsy Burton Strunk introduced TMCF's mission and partnership with Wells Fargo.
• TMCF focuses on providing scholarships, internships, and leadership development.
• Emphasis on educational excellence and preparing students for workforce success.

Society for Financial Education and Professional Development (SFE&PD)

• Led by Theodore Daniels, focusing on financial literacy since 1998.
• Special emphasis on Black communities and HBCU students.
• Programs focus on real-world application of financial education principles.

Financial Literacy Initiatives

• Workshops covering credit management, student loan management, and comprehensive financial planning.
• Focus on investing and homeownership to build wealth.
• Student Ambassador Program launched in 2017:
  • Peer-to-peer financial education among 32 HBCUs.

Credit Education Overview

Key Concepts

• Differences between credit and debt.
• Three C's of Credit: Capacity, Character, and Collateral.
• Types of credit (secured, unsecured, revolving, installment).

Managing Credit

• Importance of maintaining a low debt-to-limit ratio.
• Distinction between various credit cards (bank cards, charge cards, retail cards).
• Secured credit cards as a tool for building/rebuilding credit.

Financial Literacy Panel

• Theodore Daniels and Marcus Creighton from SFE&PD, Martiara Boyd, a student ambassador.
• Discussion on the importance of financial literacy in creating wealth and managing credit.
• Tips on managing credit cards, understanding interest rates, and the impact of credit on employment.

Conclusion

• Encouragement to utilize resources and engage in financial literacy to improve financial well-being.
• Promotion of upcoming webinars and continuous learning opportunities.

Additional Resources

• Opportunities to connect with presenters and organizations via social media.
• Availability of webinar playbacks on the TMCF YouTube channel.