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Financial Literacy, Financial Inclusion, and Closing the Racial Wealth Gap
The Richmond Chapter of Urban Financial Services Coalition invites influencers and leaders from across the financial services industry to the “Financial Literacy, Financial Inclusion, and Closing the Racial Wealth Gap” session on Tuesday, April 27, 2021, at 6:30 pm Eastern Standard Time. This session’s featured speaker will be Renee Sattiewhite, President and CEO of the African American Credit Union Coalition (AACUC).
The racial financial literacy gap has been well documented. As noted in a recent study titled “Financial Literacy and Wellness of African Americans,” this financial literacy gap contributes to the racial wealth gap. And the wealth gap is at the root of many other inequities and disparities that lead to the overall comparative diminution of the quality of life of African Americans and other people of color. The McKinsey & Company report entitled, “The Economic Impact of Closing The Racial Wealth Gap,” Jason Wright and Shelly Stewart III point out that “the persistent racial wealth gap is a burden on black Americans as well as the overall economy.” For those who don’t know, the wealth gap, when analyzed by race, is staggering. According to the Federal Reserves’ Survey of Consumer Finances, in 2016, the median household net worth (aka wealth) of black Americans was $24,000 compared to $170,000 for white households. United States GDP (Gross Domestic Product) could increase by over $1.4 trillion dollars over the next ten years by closing the racial wealth gap!
President and CEO
African American Credit Union Coalition (AACUC)
Renée Sattiewhite is the President and CEO of the African-American Credit Union Coalition (AACUC) and is responsible for the execution of the strategic vision of the Board of Directors. With over 30 years in the world of finance, she started her career as a Teller Trainee for City National Bank in Beverly Hills, California. She quickly moved up the ranks with various positions including Bank Officer.
She has been associated with credit unions for over 25 years and was the first Internship Program Director for the AACUC. Renee’s background is in training and marketing, specializing in Customer Service, Effective Communication, Board Development, Team Building and Strategic Planning.
Renée is a former Instructor for Spelman College’s Continuing Education Department, a Facilitator for United Way of Greater Atlanta’s VIP Board Development Program and a graduate of Oglethorpe University with a B.A. in Communications. She is credited for giving organizations a “new look” in the areas of customer satisfaction, employee relations, and marketing materials.
She is a certified diversity professional, a credit union development educator, motivational speaker, an executive coach, mentoring trainer and assists organizations with marketing campaigns.
Renee is also a proud Board Member of the World Council of Credit Unions Foundation and a Master Trainer for the United Way of Atlanta ‘s VIP Board Development Program.
Date: Tuesday, April 27, 2021
Time: 6:30 pm, Eastern Daylight Time