"HELLOWALLET" PARTNERSHIP TO BRING INDEPENDENT FINANCIAL GUIDANCE TO SAN FRANCISCO RESIDENTS
California Desk
March 10, 2010
San Francisco, CA— Mayor Gavin Newsom today announced a new partnership with HelloWallet to provide independent financial guidance to the city´s residents. Through this major initiative, San Francisco will become the first city in the nation to deploy this revolutionary online financial guidance and management tool. All San Francisco households will receive a direct invitation to use the service.
"If there is one lesson we can draw from the ruinous foreclosure crisis, it is that we must democratize access to independent financial guidance, something most people do not have access to today," said Mayor Newsom. "HelloWallet and San Francisco share a common objective: to empower all residents to take control of their finances by providing the very best financial guidance and management tools."
By being independent from banks, leveraging advanced analytics, and drawing upon proprietary market data, HelloWallet will help put money back in San Franciscans´ pockets by providing personalized guidance at an affordable price for everyone.
The City of San Francisco is joined by a diverse group of leading institutions, including foundations, unions, businesses, and non-profits who will work together over the next year to support this initiative to make affordable, unbiased financial guidance available to San Francisco and California residents. Launch partners include the San Francisco Chamber of Commerce, Pacific Gas & Electric, the San Francisco Public Utilities Commission, EARN, the Laborers union and others. Together, this group will communicate with nearly all San Francisco households in the form of paychecks, utility bills, listserv announcements, and other means.
"We are thrilled to announce our partnership with Mayor Newsom and so many leading institutions in San Francisco," said Matt Fellowes, founder and CEO of HelloWallet. "HelloWallet´s core mission is to democratize access to financial guidance for all Americans. Our invention makes it possible for everyone, regardless of income, to get access to the same sophisticated financial guidance that has largely only been available to the wealthy in the past."
In keeping with its charter as a social mission enterprise, HelloWallet has also pledged to provide access to free financial guidance to one needy family in San Francisco for every five subscribing members. That charitable commitment has been generously expanded by the Walter & Elise Haas Fund, Levi Strauss Foundation and Pacific Gas & Electric, who are providing grant funding for subsidized yearlong subscriptions for over 1,000 low-income
families in San Francisco.
Founded by former Brookings Institution consumer finance scholar, Matt Fellowes, HelloWallet was created to democratize access to affordable, unbiased financial guidance and offer a solution to a wide number of challenges facing consumers across the country, including a financial system they feel they can no longer trust. Supported by The Rockefeller Foundation as part of its $70 million Campaign for American Workers Initiative, HelloWallet has been recognized by the Clinton Global Initiative as an innovative resource that could transform the way American consumers get ahead.
"If there is one lesson we can draw from the ruinous foreclosure crisis, it is that we must democratize access to independent financial guidance, something most people do not have access to today," said Mayor Newsom. "HelloWallet and San Francisco share a common objective: to empower all residents to take control of their finances by providing the very best financial guidance and management tools."
By being independent from banks, leveraging advanced analytics, and drawing upon proprietary market data, HelloWallet will help put money back in San Franciscans´ pockets by providing personalized guidance at an affordable price for everyone.
The City of San Francisco is joined by a diverse group of leading institutions, including foundations, unions, businesses, and non-profits who will work together over the next year to support this initiative to make affordable, unbiased financial guidance available to San Francisco and California residents. Launch partners include the San Francisco Chamber of Commerce, Pacific Gas & Electric, the San Francisco Public Utilities Commission, EARN, the Laborers union and others. Together, this group will communicate with nearly all San Francisco households in the form of paychecks, utility bills, listserv announcements, and other means.
"We are thrilled to announce our partnership with Mayor Newsom and so many leading institutions in San Francisco," said Matt Fellowes, founder and CEO of HelloWallet. "HelloWallet´s core mission is to democratize access to financial guidance for all Americans. Our invention makes it possible for everyone, regardless of income, to get access to the same sophisticated financial guidance that has largely only been available to the wealthy in the past."
In keeping with its charter as a social mission enterprise, HelloWallet has also pledged to provide access to free financial guidance to one needy family in San Francisco for every five subscribing members. That charitable commitment has been generously expanded by the Walter & Elise Haas Fund, Levi Strauss Foundation and Pacific Gas & Electric, who are providing grant funding for subsidized yearlong subscriptions for over 1,000 low-income
families in San Francisco.
Founded by former Brookings Institution consumer finance scholar, Matt Fellowes, HelloWallet was created to democratize access to affordable, unbiased financial guidance and offer a solution to a wide number of challenges facing consumers across the country, including a financial system they feel they can no longer trust. Supported by The Rockefeller Foundation as part of its $70 million Campaign for American Workers Initiative, HelloWallet has been recognized by the Clinton Global Initiative as an innovative resource that could transform the way American consumers get ahead.
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