Two First State financial nonprofits are uniting their efforts. The Delaware Financial Literacy Institute (DFLI) announced that effective, April 1, the Delaware Community Reinvestment Action Council, Inc. (DCRAC) will assume oversight of DFLI’s Money School.
As the Financial Literacy Institute’s signature program, The Money School, has served thousands of people throughout the state by offering more than 700 free financial education classes and events annually.
The Money School will continue its partnership with the Delaware Division of Libraries, hosts to the classes for nearly two decades.
“The Money School will enable us to significantly expand our work to provide free education on matters related to money,” said Rashmi Rangan, executive director of DCRAC. “Classes on getting out of debt, improving credit, preparing for homeownership, foreclosure prevention and much more will be offered throughout the state.”
“Over the past 17 years, DFLI has become ‘A Community of Learners in a School without Walls,’ providing a host of services to adults, youth and families,” stated Ronni Cohen, DFLI’s longtime Executive Director who will continue to serve as a consultant. “We look forward to supporting DCRAC as it helps low- and moderate-income Delawareans take charge of their financial situations, plan for the future and avoid financial pitfalls.”
“We are tremendously excited to continue the rich legacy of The Money School and thank Ms. Cohen and her staff and supporters for their many years of service to Delaware,” said Rangan. “Our offerings will provide all the tools anyone needs to succeed financially.”
In 1999, then State Treasurer Jack Markell brought the EveryWoman’s Money Conference to Delaware. Those in attendance were so energized by the program that they urged the Treasurer to keep the financial dialogue alive, inspiring Markell to organize 12 classes for “every woman,” establishing the foundation for The Money School. In 2001, Markell raised the funds to create the Delaware Financial Literacy Institute, a 501 (c)(3) nonprofit organization.
The Delaware Community Reinvestment Action Council, Inc. (DCRAC) is a non-profit organization whose mission is to ensure equitable treatment and equal access to credit and capital for Delawareans.
