NAFEO, The Membership & Advocacy Association for all HBCUs and PBIs Joins Former NFL Player, Cleveland Gary's Network-Based Platform to Drive HBCUs and PBIs to Reap Benefits of ECRID, Inc.
Ecrid, Inc. (OTC: ECDD) is the first minority-owned, publicly traded credit bureau aimed at improving credit access for underserved communities, particularly students and alumni of Historically Black Colleges and Universities (HBCUs). In collaboration with the National Association for Equal Opportunity in Higher Education (NAFEO), Ecrid intends to provide a unique credit valuation through its Ecrid Credit Report and Ecrid Lending Report, addressing significant credit disparities. Ecrid seeks to empower these individuals economically, enabling home ownership and wealth-building opportunities.
- Ecrid is the first minority-owned, publicly traded credit bureau, expanding access to credit for underserved communities.
- Partnership with NAFEO enhances Ecrid's reach within the HBCU community, potentially serving over 700,000 students and nearly 1 million alumni.
- Ecrid's innovative fintech platform aims to assist those with past financial issues in regaining creditworthiness.
- Ecrid faces competition from established bureaus like Equifax, Experian, and TransUnion, which may hinder its market penetration.
The Nation's First Minority-Owned, Publicly Traded Credit Bureau & Lending Corp
STUART, Fla., Aug. 24, 2022 /PRNewswire/ -- Ecrid, Inc. (OTC: ECDD) -- At this time in which the credit monitoring and reporting industry is increasingly failing consumers, accounting for one-third of complaints with the Consumer Finance Protection Bureau, the National Association for Equal Opportunity in Higher Education (NAFEO), and ECRID Credit and ECRID Lending Corp., have joined forces to make certain that those in the HBCU Community and many others who have disproportionately been ill-served by credit and lending entities, reap the tremendous benefit of ECRID. As the nation's first minority-owned, publicly traded (ECDD) credit bureau (Stock Symbol: ECDD), ECRID valuates the creditworthiness of its members through its own ECRID Credit Report and ECRID Lending Report. Its valuations look at whole credit life experiences of its members, in determining creditworthiness. This substantially expands to those who can access credit needed to for such things as home ownership, and business creation.
NAFEO is the only membership and advocacy association for all 106 Historically Black Colleges and Universities (HBCUs) and 80 Predominantly Black Institutions (PBIs). These institutions are located in 22 states, the District of Columbia, and the Virgin Islands. They represent more than 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
Attorney Lezli Baskerville, President & CEO of NAFEO stated, "NAFEO is excited to have entered a partnership with ECRID, a publicly traded (ECDD) minority-owned, second chance credit bureau. ECRID entered the credit bureau space heretofore dominated by Equifax, Experion, and Trans Union. We welcome a minority-owned company into the credit bureau space. As with so many of today's college graduates, recent graduates of HBCUs struggle to secure mortgages upon completing college in part because of today's cost of college and post-graduate education, and also because roughly two-thirds of HBCUs students are from families with households of
Mr. Cleveland Gary, Founder & CEO of ECRID, and a former NFL player expressed his vision for the NAFEO HBCU-PBI ECRID alliance, thus: "For many years, we've worked hard to create a custom-made wealth building platform that would transform the lives of under resourced persons. The HBCU partnership with ECRID will create an economic shift that promotes wealth building. ECRID will be a major provider of loans and attendant services to the 700,000 plus students enrolled in HBCUs and PBIs and the nearly 1,000,000 HBCU and PBI alumni. ECRID will be the first-choice provider of services to the HBCU alumni and their family members who have graduated from the 106 Historically Black Colleges and Universities (HBCUs) and 80 Predominantly Black Institutions (PBIs) that are members of the National Association 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 to work assisting in leveling the credit and lending fields, and assisting others in wealth-building."
ECRID will support HBCU students, faculty, alumni, and other diverse persons in responsibly borrowing, building and sustaining flourishing businesses, purchasing homes and laying a solid foundation for wealth building.
About ECRID
ECRID came to market to transform the financial lives of every American who needs a second chance of becoming credit worthy. The company has created an innovative fintech platform providing opportunity for individuals and families to regain their financial footing and build wealth in spite of a past bankruptcy, judgement, collections or lien. Second chances have been created to get each ECRID Member financially healthy through this new Innovative fintech platform.
About NAFEO
The National Association for Equal Opportunity in Higher Education (NAFEO) is the nation's only national membership association of all of the nation's Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs). Founded in 1969, by the presidents and chancellors of HBCUs and other equal educational opportunity institutions, NAFEO is a one-of-a-kind membership association representing the presidents and chancellors of the public, private, independent, and land-grant, two-year, four-year, graduate and professional, HBCUs and PBIs.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements." Forward-looking statements also may 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 for 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," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" & other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, 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 release should be considered w/ these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Contact
NAFEO
NAFEONATION.org
Joy C. West
(202) 552-3300
(202) 445-5686
Maria Schuberth
(561) 722-8620
Ecrid, Inc.
ECRID.com
(800) 380-9096
support@ecrid.com
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