CHARLOTTE, N.C., April 27 -- As part of Financial Literacy Day on Capitol Hill, LendingTree today announced the launch of The LendingTree Foundation and AboutFinancialLiteracy.com, two initiatives with a shared goal of increasing financial literacy. A private, non-profit organization, The LendingTree Foundation is designed to provide personalized coaching to cash-stricken families and individuals on the road to financial freedom. AboutFinancialLiteracy.com will offer a multitude of tips and tools for those looking to get their finances on track.
"With mortgage rates on the rise and an unemployment rate hovering at 10 percent, we wanted to do something to help families get back on their feet," said Doug Lebda, CEO of LendingTree. "While we knew we could simply write a check, The LendingTree Foundation and new financial literacy microsite will allow us to truly engage individuals and families by taking an active role in assisting them on the path to financial literacy."
The LendingTree Foundation will mentor these families as part of its Financial Fitness Academy, a one-on-one program that will educate them on personal finance issues, help them set financial goals and provide them with the tools they need to stay on track. Consumers will be able to monitor each participant's progress online where they will have the ability to read blog posts about their journey and learn about ways they can chart their own course to financial independence. LendingTree will also share the experiences of the program's participants through the company's social media presence on Facebook and Twitter.
To further assist Financial Fitness Academy participants, the LendingTree Foundation is launching the Financial Future Fund, a grant-based aid program in which the company will offer Individual Development Accounts (IDAs) for participants who have completed the mentoring program. The IDA is a match-based savings account in which deposits will be matched by The LendingTree Foundation.
The inaugural Financial Fitness Academy class will be identified through LendingTree's relationships with aid organizations in and around the Charlotte, NC area. Future classes will be selected through an open application process.
To align these efforts, LendingTree's AboutFinancialLiteracy.com, will offer a host of tips and tools for consumers, including MoneyRight(SM), an online budgeting device that allows users to create a budget, manage spending and boost their savings.
In addition to launching The LendingTree Foundation, the company will have an active presence on Capitol Hill today. Company executives Tom O'Neill and Mike Miller and lobbyist Jeanne-Marie Murphy will meet with staffers and members of Congress to discuss the importance of financial education and highlight LendingTree's commitment to this important cause.
For more information about LendingTree, The LendingTree Foundation and the Financial Fitness Academy application process, please visit www.LendingTree.com or call 1-800-555-TREE.
About LendingTree, LLC
LendingTree, LLC is the nation's leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 27 million loan requests and $207 billion in closed loan transactions. LendingTree, LLC is a subsidiary of Tree.com, Inc. (Nasdaq: TREE). For more information go to www.lendingtree.com or 800-555-TREE.