OR | The Oregon Division of Financial Regulation (DFR) has announced its second annual Statewide Outreach Sponsorship Program for organizations that engage in financial empowerment work. The program will award sponsorships of $25,000 each to up to five organizations for one-year contracts.
Organizations can attend a free information session through Zoom on Thursday, Aug. 24, at 11 a.m. to learn more about the program. Registration is encouraged, but not required. For those not able to attend, the session’s slide deck will be made available on DFR’s website after the session. Go to https://dfr.oregon.gov/help/outreach-education/ to register and learn more.
The goal of the sponsorship program is to collaborate with 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 raise awareness of free services and resources offered by the division.
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 better when they can turn to an expert for information.
“The first year of the program has been successful,” DFR Administrator TK Keen said. “Entering the program’s second year, we are striving to reach more people so they can build their skills and confidence to manage money and choose insurance and financial products and services that meet their needs.”
Preference will be given to nonprofits, public schools, public charter schools, and tribal entities currently conducting financial empowerment work in Oregon. Solicitation materials are available on the DFR website. Proposals are due Sept. 22.
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 program is expected to be in place for at least two more years. Organizations can apply each year. Future funding will be based on the availability of funds and program effectiveness. For more information, go to https://dfr.oregon.gov/help/outreach-education.