The Oregon Division of Financial Regulation (DFR) announced a sponsorship grant program for organizations that engage in financial empowerment work. The program will award sponsorships to up to five organizations for one-year grants of $25,000 each.
Organizations can attend a free information session via Zoom at 10 a.m. Tuesday, Aug. 9, and 1 p.m. Wednesday, Aug. 10, to learn more about the program. The sessions are not mandatory. Registration is encouraged, but not required.
The goal of the sponsorship program is to support trusted community partners in delivering financial education to consumers in underserved communities. The program will help empower consumers to make decisions about insurance and other financial services that are best for them and to help raise awareness of free services and resources offered by DFR.
The cost of insurance is often one of the biggest expenses for people, yet national studies show that they do not understand insurance and are not confident to shop around for the best coverage, at the best price. People are more confident and understand insurance more when they can turn to an expert for information.
“We are excited to support the critical work done by organizations across Oregon,” said Division of Financial Regulation Administrator TK Keen. “When someone builds their skills and confidence to manage money and choose insurance and financial products and services that meet their needs, they are well positioned to manage financial challenges and to reach their goals.”
Applicants must be a nonprofit, public school or public-chartered school, or a tribal entity in Oregon. Applications are due Sept. 16.
Organizations will be evaluated on their ability to help underserved communities, including African Americans; Latino, Latina, and Latinx people; Native Americans; Asians and Pacific Islanders; other people of color; women; LGBTQ+ people; survivors of domestic violence; immigrants and refugees; youth who are underserved; previously incarcerated people; people with disabilities; and seniors.
This grant program is expected to be in place for at least three years. Applicants can apply each year. Future funding will be based on availability of funds and program impact. For more information, go to dfr.oregon.gov and select the Outreach and Education button.