The Texas Legislature established the Texas Financial Education Endowment (TFEE) to support statewide financial capability and consumer credit building activities and programs. The endowment is funded through assessments on each credit access businesses and is administered by the Finance Commission of Texas.
Austin, Texas - The Finance Commission of Texas has announced the grantees for the new funding cycle of the Texas Financial Education Endowment “TFEE.” This grant program is designed to support and promote financial capability, education, and responsibility of Texans. The endowment supports innovative consumer credit building activities and programs for youth and adults throughout the state.
Eight organizations were awarded an aggregate amount of $250,000. The 2016-17 grant recipients are:
K-12 Financial Education and Capability
Texas Council on Economic Education, Statewide – $32,000
Family Pathfinders of Tarrant County, Tarrant County – $32,000
Community Development Corporation of Brownsville, Brownsville – $32,000
Adult Financial Education and Capability
Goodwill Industries of Central Texas, Inc., Austin – $32,000
"Texas is stepping out as a leader in supporting the delivery of innovative and effective financial education
Easter Seals of Greater Houston, Houston – $32,000
Texas State Affordable Housing Corporation, Statewide – $32,000
El Paso Credit Union, Inc., El Paso – $25,000
Family Service Association of San Antonio, Inc., San Antonio - $32,000
and capacity building programs that enhance the personal wellbeing and responsibility of Texans, which
in turn supports economic growth in our state,” said Bill White, Chairman of the Finance Commission.
The next grant cycle is planned for fall, 2017.
The Endowment Fund was created by the 82nd Legislature in conjunction with the legislation that established a regulatory program for Credit Access Businesses. Each Credit Access Business, a financial service provider that facilitates payday and auto title loans, is required to pay an annual assessment to the endowment fund to sustain the financial capability and education programs.
The Finance Commission of Texas ensures banks, savings institutions, consumer credit grantors and other state-regulated financial entities operate responsibly to enhance the financial well-being of Texans.