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Jan Hofman from the Regions Community Engagement team accepted the ABA Foundation Community Commitment Award on behalf of the bank.

Category: News

Regions Honored for Financial Wellness Program

The American Bankers Association Foundation recognized the bank for extraordinary corporate social responsibility efforts in the area of financial education.

By Candace Higginbotham | November 4, 2024

Making life better for our customers, associates, communities and shareholders: It’s what we do every day here at Regions.

Associates know it, our customers feel it, and it’s recognized in our community – most recently by the American Bankers Association Foundation. The foundation recently announced winners of its Community Commitment Awards, which honor financial institutions for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion.

Regions was selected as winner in the Financial Education category for its Regions Next Step® program, specifically courses that provide instruction for two audiences with unique needs: individuals with cognitive disabilities and those who have been through the criminal justice system.

“This year’s winners demonstrate how banks of all sizes are thinking outside the box to make a positive difference in their communities,” ABA President and CEO Rob Nichols said in the announcement. “I hope banks across the country will consider replicating some of these innovative programs in their markets where it makes sense.”

“We’re extremely proud to be recognized for our efforts in delivering specialized financial wellness guidance throughout the communities the bank serves,” said Leroy Abrahams, head of Community Engagement at Regions. “At Regions we believe that everyone should have the opportunity for financial success, and these tailored educational resources help ensure that every person has tools and resources available to help them reach their goals in life.”

Regions’ outreach to justice-involved individuals began several years ago when the Community Engagement Financial Wellness team began collaborating with Metro Reentry in Atlanta. In 2022 and 2023, 50 Regions associates delivered more than 700 hours of financial education to formerly incarcerated individuals through fifteen detention centers, prisons, reporting centers and nonprofit organizations.

We’re extremely proud to be recognized for our efforts in delivering specialized financial wellness guidance throughout the communities the bank serves.
Leroy Abrahams, head of Community Engagement at Regions

One notable example occurred last September, when 29 individuals graduated from the Alabama Bureau of Pardons and Paroles’ Birmingham Day Reporting Center, a successful reentry program that includes financial education instruction led by Regions.

The classes included money basics, such as setting goals and learning to budget, identify theft, credit and the path to homeownership. Feedback from early sessions indicated many participants were interested in starting their own businesses, so the Regions team incorporated a small-business finance class into the curriculum – and it’s been very popular.

“The Regions Next Step® financial education program is very inclusive. It’s available to everyone at no cost, through several channels,” said Cecilia Bailey, Financial Education manager at Regions. “But we understand that some groups benefit from specialized curriculum delivered in a format that meets them where they are in life. People in transition are a good example – it’s important to build their financial confidence by addressing their unique needs.”

The ABA Foundation award also recognized the bank’s work with individuals with disabilities. Regions began delivering a customized financial education curriculum for this audience in 2020. The Money Basics for Life course includes two learning modules, Managing Your Money and Credit and Identity Theft. These financial wellness lessons enhance independent living skills and help participants learn to make good financial decisions.

Kathy Lovell, former head of Disability Services and Outreach at Regions who recently retired, was instrumental in the development of the courses and took the instruction to another level by introducing in-person branch visits to enrich the classroom experience.

Almost 1,250 individuals with disabilities have received tailored financial education from specially trained Regions associates since we created this program.
Jan Hofman, Regions Community Engagement analyst

“Financial education is the first step on the road to independent living. It is important for everyone to have a strong base of knowledge, but not everyone learns the same way,” said Jan Hofman, Community Engagement analyst who attended the ABA Foundation Community Commitment Awards ceremony in New York and accepted the award on behalf of Regions.

“Almost 1,250 individuals with disabilities have received tailored financial education from specially trained Regions associates since we created this program. It’s gratifying to see the engagement and excitement from the participants, and it’s a good feeling to know that we’re helping to set them up for success in the future.”

Along with these specialized courses, Regions also offers financial wellness modules for blind and low vision individuals with materials published in braille, as well as courses for Spanish-speaking audiences, homeless veterans and other specialized groups.

“The Regions Next Step program provides excellent curriculum, but our success depends on the Regions volunteers who spend hundreds of hours delivering the courses each year and our valuable community partners throughout the footprint who help us facilitate the financial wellness sessions,” Abrahams said. “It takes all of us working together to make a difference in our communities.”

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