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Exhibitor Focus

Apr 26, 2010

Urban Trust Bank and Dr. DeForest B. Soaries, Jr. Partner

To Launch Visa Prepaid Card as Part of the dfree Program


BETHESDA, MD (April 26, 2010) Urban Trust Bank, FSB ("UTB"), a minority controlled bank founded by Robert L. Johnson and Frank J. Hanna, and Dr. DeForest B. Soaries, Jr., the Senior Pastor of the First Baptist Church of Lincoln Gardens in Somerset, New Jersey, have partnered to deliver a Visa branded prepaid card as part of the dfree financial literacy program. dfree, founded in 2005, stands for "Debt, Delinquency and Deficit Free" and was created by Dr. Soaries as a strategy to address the financial education needs of his congregation. In 2010, the dfree campaign will expand to churches nationwide under the sponsorship of Corporate Community Connections, Inc. (CCCI), an entity formed by Soaries in 1997 to create partnerships between major corporations and community and faith based organizations."This program will allow Urban Trust to fulfill its mission of assisting community leaders to provide urban communities with the tools to help individuals gain financial literacy and savings for the future," stated Robert L. Johnson. "Financial literacy is the first step towards saving for home ownership -- the cornerstone for generational wealth in this country," Johnson added."I am thrilled to launch this prepaid card as part of the dfree movement. The mission of dfree is to help churches and other organizations popularize debt free living and economic capacity. This means that we must provide individuals and families with the tools to address their financial needs on a consistent basis," noted Dr. Soaries. "Families can use this low cost tool to better manage their finances and their lives."In addition to churches, the program will expand to community organizations, credit unions, and student organizations. They say the prepaid card empowers cardholders with many of the benefits of traditional debit or credit cards, without the potential to misuse credit. These cards may be used anywhere Visa debit cards are accepted for shopping and for ATM withdrawals at thousands of locations nationwide.Initially dfree will be supported by the Urban Trust Success prepaid Visa card, while a dfree branded prepaid card is under development.Source: Urban Trust Bank (www.urbantrustbank.com); The RLJ Companies (www.rljcompanies.com); Corporate Community Connections (www.mydfree.org)
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