The Mississippi Community Financial Access Coalition (MCFAC) recently held the first class of its annual “Financial Education Boot Camp” at Greenwood Leflore Hospital.
The boot camp, which started Tuesday, is a five-week course in which people can gain financial help and education through two-hour classroom-style sessions.
Four of the five sessions are mandatory to those enrolled. Those completing the boot camp are awarded certificates “plus tools to take home,” said Lora Evans, MCFAC financial trainer.
“The boot camp consists of the accumulation, distribution and protection phases of financial planning,” Evans said.
Last Tuesday, students learned about their net worth and how to protect their assets through insurance. Next, they will focus on developing a spending plan and accumulating extra income.
According to Evans, 24.1 percent of residents in Leflore County are “un-banked” or don’t have bank accounts. She said 25.7 percent of them are “under-banked,” meaning that they aren’t using their banks’ services to their full advantage.
“All the sessions are meant to encourage those who are under-banked or un-banked to learn how to get the bang for their buck,” Evans said.
State Bank and Trust, Trustmark Bank, Planters Bank and the Bank of Commerce will assist with Tuesday’s session. These banks are partnering with MCFAC for this boot camp to offer their services for learning and credit help.
“What we see from this program is our students, upon graduating, are able to get out of debt and build on their home management,” Evans said.
Banks partnering with the program also may work with those in attendance to establish or re-establish their credit, Evans said.
“This boot camp is our way of making sure the citizens of Greenwood are financially confident,” Evans said. “And it all starts with a little education.”
Later sessions’ topics will include banking and investments and how to use credit wisely.
The boot camp is a prerequisite for future classes with the MCFAC. It’s necessary to understand money, saving and investments before building wealth, Evans said.
The MCFAC offers these courses, including the boot camp, across the state, including in Canton, Batesville, Moorhead and Greenville. Those interested in registering or holding their own boot camps may contact Lora Evans at 451-7211. Registration is open until Tuesday, week two of boot camp.
•Contact Laura Kay Prosser at 581-7233 or lprosser@gwcommonwealth.com.
