MoneyLion is providing products and services to help bring financial wellness to a traditionally underserved community
NEW YORK, Feb. 13, 2019 /PRNewswire/ — MoneyLion, America’s most powerful and rewarding financial membership, empowering hardworking Americans to save, borrow and invest, today announced its partnership with dfree®, the Financial Freedom Movement created by Dr. DeForest B. Soaries Jr. The partnership will combine MoneyLion’s products and resources with dfree’s content and strategies to create a powerful financial wellness program that enables individuals to continue reaching their financial goals.
dfree® is a transformational, lifestyle movement that promotes financial freedom through values-based principles and practical approaches to financial management. dfree® was designed as a strategy for African Americans whose collective financial well-being lags significantly behind every other racial group in America. The dfree® strategy for economic freedom begins by addressing consumer debt, spending habits and savings rates among this community
“dfree® is nurturing the growing passion in Black America to harness our $1.3 trillion dollar annual spending power and create sustainable wealth. MoneyLion is the perfect partner for dfree® as we offer their unique products and outstanding tools to our financial wellness movement,” said Dr. DeForest B. Soaries Jr., Founder and CEO of dfree.
MoneyLion provides the tools people need to break free from financial stress, including a zero-fee checking account, zero-fee debit card, zero-fee managed investment account, zero-fee advance, cashback rewards, and personalized financial advice. MoneyLion also provides access to responsible, low APR, credit-building loans that won’t continue the cycle of debt but rather put people in charge of their finances.
“Our mission at MoneyLion is to bring financial support to all Americans, and our partnership with dfree® will leverage our innovative technology platform to make financial freedom a reality,” said Dee Choubey, CEO and co-founder of MoneyLion. “The dfree® strategy and curriculum prepares individuals to take charge of their financial future through literacy. Now, through the MoneyLion partnership, dfree® members are further empowered with access to powerful financial tools and state-of-the-art metrics to ensure continued success.”
dfree® members can sign up for MoneyLion at a discounted rate to take advantage of zero-fee checking, hassle-free saving, fully managed investment accounts and personalized financial advice. MoneyLion will further amplify dfree’s existing 12-step program to becoming debt free and inspire the community to earn rewards, make smart investments and save for the future.
“dfree® was created to give African Americans freedom from the chains of high-interest debt, and we are excited to finally share the tools with our community that will enable them to get ahead of their financial problems and make their goals achievable,” said Dr. DeForest B. Soaries Jr., Founder and CEO of dfree.
MoneyLion is America’s most powerful and rewarding financial membership, empowering people to take control of their finances to achieve their overall life goals. Since its launch in 2013, MoneyLion has amassed more than 4 million members and has earned its customers trust with new banking and investments capabilities that offer a one-of-a-kind rewards program, no-fee checking account, overdraft protection, and loans funded in 15 seconds or less. From a single application platform, users can get a holistic snapshot of their entire financial lives while having access to personalized and contextualized tips and tools to improve their credit and achieve everyday savings. With the notion that good habits are formed over time, MoneyLion rewards users for each decision along that journey. The success of MoneyLion relies on finding ways to make the members’ money work as hard as they do. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. For more information, visit www.moneylion.com or download the app here.
Founded in 2005, the dfree® financial freedom movement is a transformational, lifestyle movement that promotes financial freedom through values-based principles and practical approaches to financial management. dfree® emphasizes controlling money matters so that individuals have the freedom to focus on more purposeful pursuits. dfree® was featured by CNN in a 90-minute documentary, Almighty Debt, an installment of the Black in America series, hosted by Soledad O’Brien. The dfree® strategy is being used by thousands of churches, organizations and individuals worldwide.
View the press release here.