NAFEO, the membership and advocacy association for all HBCUs and PBIs joins former NFL player, Cleveland Gary’s network-based platform to inspire HBCUs and PBIs to reap the benefits of ECRID, Inc.
The nation’s first minority-owned, publicly traded credit bureau and finance company
STUART, Florida., August 24, 2022 /PRNewswire/ — Ecrid, Inc. (OTC: ECDD) — At a time when the credit monitoring and reporting industry is increasingly failing consumers, accounting for one-third of complaints to the Consumer Finance Protection Bureau, National Association for Equal Opportunities in Higher Education (NAFEO) and ECRID Credit and ECRID Lending Corp., have joined forces to ensure that members of the HBCU community and many others who have been underserved by disproportionately by credit and lending entities, reap the enormous benefits of ECRID. As the country’s first minority-owned and publicly traded credit bureau (ticker symbol: ECDD), ECRID assesses the creditworthiness of its members through its own ECRID Credit Report and ECRID Loan Report . Its ratings examine all of its members’ credit experiences to determine their creditworthiness. This greatly expands at those who can access credit need
at for things like home ownership and starting a business.
NAFEO is the sole membership and advocacy association of the 106 Historically Black Colleges and Universities (HBCUs) and 80 Predominantly Black Institutions (PBIs). These institutions are located in 22 states, District of Colombiaand the The Virgin Islands. They represent over 700,000 students, 72,000 faculty and 1,000,000 alumni worldwide. NAFEO members are public, private, and land-grant, two-year, four-year, graduate, and professional institutions. HBCUs have a $1.5 billion short-term economic impact. HBCUs are responsible for graduating disproportionate percentages of those representing $1.3T in black purchasing power and keeping dollars in black communities longer.
Lawyer Lezli BaskervilleChairman and CEO of NAFEO said, “NAFEO is delighted to have entered into a partnership with ECRID, a publicly traded second chance credit bureau (ECDD). ECRID has entered the credit bureau space hitherto dominated by Equifax, Experion and Trans-Union. We welcome a minority-owned company to the credit bureau space. As with so many college graduates today, recent HBCU graduates struggle to secure mortgages upon graduation, in part because of the current cost of college and postgraduate education, and also because approximately two-thirds of HBCU students come from families whose households are $25,000 or less. HBCU, nevertheless have proven to be the most effective pipeline for returning and other diverse students in the middle class through their thirties. ECRID will provide these distinguished scholars and others with another option to prove their creditworthiness that will allow them to invest in a home and begin generating wealth.”
Mr. Cleveland GaryFounder and CEO of ECRID, and former NFL player expressed his vision for the NAFEO HBCU-PBI ECRID alliance, thus: “For many years, we worked hard to create a bespoke wealth creation platform that would transform the lives of the underprivileged. The HBCU partnership with ECRID will create an economic transition that will promote wealth creation. ECRID will be a major provider of loans and ancillary services for the more than 700,000 students enrolled in HBCUs and PBIs and the approximately 1,000,000 alumni of HBCUs and PBIs. ECRID will be the first-choice service provider for HBCU alumni and graduate family members of the Association’s 106 Historically Black Colleges and Universities (HBCUs) and 80 Predominantly Black Institutions (PBIs). National for Equal Opportunity. in higher education. And what a privilege it is for me, a former NFL player, who studied economics and finance in college and on Wall Street, to put these facets of my life’s experiences into work to help level the areas of credit and loans, and helping others in wealth -building.“
ECRID will help HBCU students, faculty, alumni, and other diverse individuals to responsibly borrow, build, and sustain successful businesses, buy homes, and lay a solid foundation for creation. of riches.
ECRID came to market to transform the financial life of every American who needs a second chance at becoming creditworthy. The company has created an innovative fintech platform that provides individuals and families with the ability to regain their financial footing and build wealth despite prior bankruptcy, judgment, collections or lien. Second chances have been created to ensure the financial health of every ECRID member through this innovative new fintech platform.
The National Association for Equal Opportunity in Higher Education (NAFEO) is the only national membership association of all historically black colleges and universities (HBCUs) and predominantly black institutions (PBIs) in the nation. Founded in 1969 by the presidents and chancellors of HBCUs and other equal educational opportunity institutions, NAFEO is a–of–a–amiable association of members representing presidents and chancellors from the public, private, independent and land-grant, two-year, four-year, graduate and professional sectors, HBCUs and PBI.
FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements”. Forward-looking statements may also be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans regarding our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified using words such as “anticipate”, “intend”, “plan”, “aim”, “seek”, “believe”, “project”, “estimate”, “seek”. expect”, “strategy”, “future”. ,” “likely”, “may”, “should”, “should”, “could”, “will”, and other words of similar meaning when discussing future operating or financial performance. Examples forward-looking statements include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash and other measures of financial performance. relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the actual results and financial condition of the Company to differ materially from those expressed or implied by the statements These risks, uncertainties and other factors include, but are not limited to, economic conditions, changes in laws or regulations, demand for products and services of e business, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this press release should be considered in light of these factors. We assume no obligation to update any forward-looking statements contained in this report.