A new and growing partnership between Northwest Bank and the Urban League of Lorain County has been formed to help residents achieve economic empowerment. The financial literacy program, in its pilot year, provides clients with the tools to obtain a secure financial future.
It’s a smart partnership. The Lorain County Urban League was founded in 1978, committed to empowering all people in the community “to participate equally in the educational, economic and social mainstream.” The Urban League takes a holistic approach to economic empowerment, providing information and guidance about money and credit management, as well as savings opportunities. The organization also provides its clients with job training and career direction, and, for those interested, information about starting a business. The goal is to create financial independence.
When that financial stability is achieved, many clients look forward to becoming homeowners.
“Today’s young people are interested in owning their own homes, but we have to do a better job as a community to help get them prepared and provide some guidance,” says Frank Whitfield, president and CEO of the Lorain County Urban League.
The Urban League initially helps clients understand the homeownership process and responsibilities and then connects them to Northwest Bank. Professional and caring bank employees educate participants in the program about different financial options, including Northwest’s first-time homebuyers’ programs and additional affordable mortgages, helping make homeownership possible.
“As a community-minded bank, partnering with the Urban League is a great fit,” says Kevin Nelson, who was named region president at Northwest Bank in 2015. “Like the Urban League, Northwest’s goal is to give our customers the tools they need to succeed.”
Nelson and Whitfield hope to extend the program every year to serve more clients and include more partners.
Founded in 1896, Northwest Bank is a full-service financial institution with 19 offices throughout Lorain, Cuyahoga and Summit counties that offers a complete line of business and personal products, including employee benefits, investment management and personal and business insurance services. More information can be found online at northwest.com.
“We are lucky to have organizations like the Urban League, which focus on helping people realize their full potential,” says Nelson. “Thanks to this partnership, we are making a difference in the lives of residents across Lorain County. And, at Northwest, making a difference in the lives of others is at the heart of what we do.”
Northwest Bank is Member FDIC; Equal Housing Lender.