A Mastercard Press Release: Mobility Capital Finance Inc. Receives Capital Investment from Mastercard...

MoCaFi receives funding from Mastercard.

Here's an excerpt from the Mastercard press release:

The inequities in today’s financial system have left many Americans without access to affordable services, instead relying on payday lending, expensive cash checking services and remittance fees. Mobility Capital Finance (MoCaFi), a financial technology, mobile-first banking platform, and Mastercard are partnering to bring alternate financial services to underserved communities with a specific focus on providing tailored digital tools, and new payment cards to low wealth minority and Black communities. Mastercard has now furthered its commitment with a capital investment in MoCaFi.

Continue reading the full press release on Mastercard.com


Featured on Protocol

MoCaFi was featured on Protocol.com, in an article titled Making the economy work for Black entrepreneurs.

Here’s an excerpt from the article.

When Tanya Van Court's daughter shared her 9th birthday wish list — a bike and an investment account — Tanya had a moment of inspiration. She wondered whether helping more kids get excited about saving for goals and learning simple financial principles could help them build a pathway to financial security. With a goal of reaching every kid in America, she founded Goalsetter, a savings and financial literacy app for kids. Last month, Tanya brought in backers including NBA stars Kevin Durant and Chris Paul, raising $3.9 million in seed funding.

Reaching this milestone is a testament to Tanya's perseverance and resilience as she, like many other Black women founders, struggle to find institutional investors. Our financial system is simply not set up to help Black entrepreneurs launch a business.

Continue reading the full article on Protocol.com.


Weekend Agenda 033

The Weekend Agenda - 033


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 1/15/21 -


PLAY THIS: 033 - Thinking Of A King


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Weekend Agenda 032

The Weekend Agenda - 032


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 01/08/21 -


READ THIS: 20 Minutes With: Wole Coaxum, Founder and CEO of MoCaFi


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Barron's: 20 Minutes With Wole Coaxum, Founder and CEO of MoCaFi

Wole Coaxum, founder and CEO of MoCaFi, saw more than police brutality and racial bias when Black teenager Michael Brown was killed by a white police officer in Ferguson, Mo., in 2014. As Coaxum, 50, watched protests on the news, he saw a community in pain, suffering from many generations of systemic injustice. The former JPMorgan Chase director thought about what he could do to address racial and economic inequalities, and jumped into problem-solving mode.

“While the killing of an unarmed teen by a police officer was horrible and troublesome to me as an American citizen, I looked at the socioeconomic factors that informed the environment in which Michael Brown existed,” Coaxum says.

“I recognized that the community where Michael Brown lived—a working-class neighborhood outside of St. Louis (Mo.) where the per capita income is $21,210/year (according to the U.S. Census Bureau in 2018), would not offer the financial resources that would allow the residents to empower themselves… I knew that I wanted to use my training to create solutions that addressed the lack of access to financial solutions and address the wealth gap.”

Coaxum felt confident that he could use his experience in financial services and connections to some of the finance industry’s most important leaders to do good.

The full article is available on Barrons.com


5 Do’s for Investing in Uncertain Times

Breathe

The natural response to tough economic times is to panic.  The fear of unemployment mixed with thoughts of a delayed retirement usually results in an emotional decision about your investments. Because the decisions you make now will affect you once the economy recovers it is imperative you stop, relax and take a breath before making changes to your investment accounts. 

 

Review Your Asset Allocation  

Proper asset allocation is one of the most important areas to focus on during turbulent times. Not having the right balance of stocks, bonds and cash that reflect your risk tolerance and target retirement date can have an irreversible effect on your account. Stocks are risky and taking high risk with no guarantee of high returns is a bad idea when approaching retirement. When reviewing your allocation, it’s also important to keep in mind the number of years you have to regain loses from an improperly allocated portfolio decreases the closer you get to retirement. A simple way to estimate what percentage of your portfolio should be invested in the stock market is to subtract your age by 105. The number you get is the percentage of money that should be invested in stocks.   

 

Ensure You're Diversified  

Evaluate your investments to ensure all your eggs are not are in one basket. Think Enron.     Employees invested all their money into one company and when that company went under so did their retirement accounts. In many cases, people lost their entire life savings. To prevent this from happening you should be exposed to a variety of investment vehicles including stocks, bonds, mutual funds and cash. The risk levels, types of companies, and their geographic location should also vary. By diversifying your investments, you automatically offset large losses by gains in another area.

 

Stay Informed

Now is not the time to ignore announcements from human resources or trash your investment statements before opening them.  Amongst other changes, many companies have decided to suspend matching contributions and some are even changing the investment options available in the plans. Changes in the investments available may disturb both the asset allocation and the diversification of your account, so stay alert. Staying informed enables you to be proactive in making adjustments that may be necessary.    

 

Ask For Help 

If investment talk makes you, crazy and you don’t feel comfortable developing your own investment strategy you may need to call a professional for help.  Your first stop should be your employer. Some employers offer access to financial professionals that provide free guidance on your accounts. Another place to check for free guidance is your state’s office of consumer affairs or economic development. If they don’t have resources listed on their website, give them a call and they usually can point you in the right direction. 

 

 

 

Copyright © Manyell L. Akinfe-Reed 2020 All Rights Reserved. No part of this document may be reproduced without written consent from the author.


Weekend Agenda 031

The Weekend Agenda - 031


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 12/11/20 -


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Weekend Agenda 030

The Weekend Agenda - 030


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 12/04/20 -


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Weekend Agenda 029

The Weekend Agenda - 029


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 11/20/20 -


LISTEN TO THIS: MoCaFi Playlist Series: Deep Thought


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Weekend Agenda 028

The Weekend Agenda - 028


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 11/13/20 -


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