frequently asked questions

TrustFundMe is a platform that turns financial knowledge into action which generates Money-Confidence™ which comes from an organized, self-sustaining, and clear path/plan to financial security and wealth

 

Unlike other offerings, TrustFundMe seeks to change your mindset (how you think), your habits (what you do), your systems (how you do them) and your environment (what shapes your choices), without which all the financial literacy in the world won’t lead to greater wealth or financial freedom

There are thousands of financial literacy programs yet…

-Many Americans don’t expect to have enough money to retire comfortably
-40% of Americans can’t afford a $400 emergency expense
-It’s hard to focus on the future when today’s finances are so tight

Currently, an entire generation is on track to build less wealth than the previous one for the first time in American history
●Account holder: Chooses wealth building goal
○Invite friends and family to subscribe to goal and commit to $1-$10 monthly
○Access a dashboard to view progress to goal and all subscribers’ contribution
○Access to free financial education leading to certificates regardless of subscription amount
○Access to free trusted financial advice
●Subscribers
○commit to a monthly or annual amount
○Access a dashboard to view progress to goal and view subscriber’s percentage in goal
○Access to free financial education leading to certificates regardless of subscription amount
○Access to free trusted financial advice regardless of subscription amount
●Partners
○Supports TrustFundMe ecosystem by providing foundational level of pro bono advice
○Supports TrustFundMe mission by centering Account Holders needs over commerce
●Social Impact
○Community Reinvestment
○Increase in Financial Literacy

CDFI banks are federally insured and regulated depository institutions with a primary mission of community development. What distinguishes CDFI banks from other financial institutions is their community development mission and the requirement that at least 60 percent of their financing activities be targeted to one or more low- and moderate- income (LMI) populations or underserved communities. The requirement of being accountable to their target market(s) is usually fulfilled by community representation on boards of directors or advisory boards.

Approximately 50 percent of CDFI banks are Minority Depository Institutions (MDIs).