Sep 21, 2021
Robinhood’s grant supports key programs advancing financial wellness
WASHINGTON, D. C. – The National Bankers Association (NBA) National Bankers Community Alliance (Alliance) 501(c)(3) nonprofit affiliate is pleased to announce a grant from Robinhood, an innovative financial services platform with a mission to democratize finance for all. The grant will support the Alliance’s pillar to assure financial wellness for minority millennials to close the racial wealth gap in America.
“Emphasis on programs and services that prioritize financial well-being is a vital step toward eliminating the racial wealth gap," said Baiju Bhatt, chief creative officer and co-founder of Robinhood Markets. "We are proud to support the National Bankers Community Alliance and its new programming to financially empower millennials."
“With the ongoing pandemic and America’s attention focused on equity and inclusion, we want to drive long-term systemic change and impact policy that has the potential to help millennials meet their financial goals,” said Nicole Elam, president and CEO of the NBA. “We deeply appreciate Robinhood’s generous support for the Alliance and believe its platform aligns with the Four Pillars of our Alliance framework, particularly Financial Wellness and Technical Assistance.
”Through Robinhood, millions of everyday people have started investing in the stock market for the first time. They’re nurses, Army veterans, teachers, students, and small business owners. They’re younger and more diverse, and they’ve made their voices heard, transforming our financial system in the process.
The Alliance was recently initiated to support NBA member banks in their efforts to eliminate the racial wealth gap. The partnership, aimed toward helping close the growing racial wealth gap in America, will help support the Alliance’s pillars to assure financial wellness for minority millennials -- a group that is too often overlooked.
Founded in 1927 as the National Negro Bankers Association, the National Bankers Association today has expanded its membership to include Hispanic American, Asian American, Native American and women – owned banks. Recognized as the voice of minority banking in America, the NBA’s mission is to create an inclusive financial services industry and a vibrant business environment for minority financial institutions, their customers and the communities they serve. The National Bankers Community Alliance is a 501(c)(3) nonprofit affiliate of the NBA that provides programs and services to support Minority Depository Institutions (MDI) and the communities they serve. Member banks are located in twenty-two states and the District of Columbia.
For more information, please visit NationalBankers.org.
Robinhood means Robinhood Markets, Inc. and its in-application and web experiences with its family of wholly-owned subsidiaries, which includes: Robinhood Financial LLC (member SIPC), a registered broker-dealer; Robinhood Securities, LLC (member SIPC) that provides brokerage clearing services; and Robinhood Crypto, LLC that provides cryptocurrency trading.