New Unbanked and Underbanked Rates Underscore Need for Affordable and Accessible Financial Services in Arkansas and Mississippi
As a Community Development Financial Institution (CDFI) seeking to provide affordable and accessible financial services to Arkansans and Mississippians, a recently released FDIC survey on unbanked and underbanked households in America caught our attention. The study...
Bringing CSAs to the Legislative Forefront in Arkansas
Promoting savings as a way of building assets has long been a focus of Southern Bancorp’s work, which is why we were so excited to read CFED President Andrea Levere’s op-ed in last month’s New York Times that highlighted the effectiveness of Children’s Savings...
Recognizing National Save for Retirement Week
This is National Save for Retirement Week, a national effort to increase personal financial literacy and raise public awareness about the importance of saving for retirement.[1] This week provides an opportunity for employees to reflect on their personal retirement...
Building a Housing Trust Fund for Mississippi & Sustaining One in Arkansas
As a Community Development Financial Institution (CDFI), Southern seeks to support efforts focused on housing availability and accessibility for low- and moderate-income families in both Arkansas and Mississippi. We do so because of our belief that affordable housing...
Money Well-Spent: Requiring a Personal Finance Course for High School Graduation
In a national survey, only 33 percent of adults over the age of 50 could correctly answer three questions testing basic knowledge of interest rates, inflation and financial markets. And despite the widespread advertisement and usage of credit cards by young adults,...
Southern Bancorp Announces New Executive Leadership
Dominik Mjartan appointed CEO of Southern Bancorp Community Partners, EVP of Southern Bancorp, Inc. Little Rock, Ark. – Southern Bancorp CEO Darrin Williams today announced that Dominik Mjartan has been named Chief Executive Officer of Southern Bancorp Community...
Tackling our Imagination Challenge: Takeaways from the CFED Assets Learning Conference
Every two years, our partners at CFED (the Corporation for Enterprise Development) host a conference in Washington, D.C. for those who are passionate about expanding economic opportunity in the United States. This conference, the Assets Learning Conference (ALC), took...
Evaluating College Savings Plans
A Case Study on Arkansas and Mississippi Read Policy Points 41 here.
Expanding the EITC to “Childless” Workers Would Boost Financial Security for many Arkansans and Mississippians
The Earned Income Tax Credit (EITC) is a federal tax credit for low- and moderate-income working people, recognized for its success in promoting work and alleviating poverty as well as offsetting payroll and income taxes. Due to its success, federal policymakers over...
Fewer Uninsured Adults = Healthier, More Financially Stable Arkansans
Last week, Gallup reported in a survey that not only did the rate of uninsured adult Arkansans decline by nearly half (from 22.5 percent in 2013 to 12.4 percent mid-2014), but that Arkansas now leads the country in decreasing the percentage of uninsured adults and...