Bank On Norfolk
As the City Manager’s Office of Resilience continues to build the coastal community of the future, create economic opportunity, and strengthen neighborhoods, we are fueled by the successes of Bank On Norfolk. From launching the program to holding our first graduation, Bank On has been key in advancing our resilience goals.
Bank On Norfolk was established in January 2016,
when the City partnered with Bank On Hampton Roads to bring free financial education classes to Norfolk citizens,
a collaboration that also aligns with the Norfolk Plan to Reduce Poverty. For ten months, Bank On participants commit to attending monthly classes and meetings with their personal financial coach.
The first Bank On Norfolk class graduated on November 17, 2016. The keynote speaker was Councilwoman Angelia Williams Graves, who created the city’s Financial Fitness Challenge encouraging Norfolk residents to manage monthly cash flow, improve savings and build a better credit profile. Eleven graduates in total-- nine women and two men— received their diplomas from Councilwoman Graves and were recognized for their commitment to excellence and passion for building a better future.
Accompanied by their friends and family, Bank On graduates saw the great improvements they made in just ten months:
| On the first day of class:
|| On graduation day:
Participants demonstrated an ability to maintain financial security through income stability, savings, and debt reduction planning. They improved their financial knowledge in the areas of money management, savings and credit growth and debt management. Each member of the graduating class either improved their net worth or increased their income.
The program could not have successful without the commitment of program participants; volunteer financial coaches offering their time and talent; and the community partners who lent their facilities, helped promote the program, and demonstrated their commitment to growing financial security for all in Norfolk.
Bank On Norfolk continues in 2017. For information on being a program participant, volunteer, or partner, please visit www.bankonhr.org