Treasurer Sprague Announces March 2022 Compass Award Honorees
COLUMBUS – Ohio Treasurer Robert Sprague has announced Compass Award honorees for the month of March. The monthly recognition program commends organizations, programs, and individuals across the state who are working to guide Ohioans toward financial literacy education and empowerment.
“It’s never too early or late to create a financial plan and save for your future,” said Treasurer Sprague. “This month’s Compass Award honorees are helping individuals throughout their communities to become financially stable and learn best practices on how to manage their money. Ohio is proud to be home to these excellent organizations that are empowering individuals to reach their full potential.”
Compass Award honorees for March include:
Hebrew Free Loan Association of Northeast Ohio (Cuyahoga County)
The Hebrew Free Loan Association (HFLA) of Northeast Ohio is a faith-based effort to assist residents who need access to emergency funds. Loans are provided interest-free, and borrowers are selected through a stringent process to ensure funding and financial education will help individuals work toward achieving financial stability in the future. The process features partnerships with other area organizations that provide education on common money management topics, as well as instruction related to responsibly managing debt and properly managing credit scores. As recipients of these wrap-around education supports, individuals served by the organization repay the emergency loans at rates greater than 90-percent. In addition, HFLA helps recipients build their credit through reporting of repayment to the credit bureaus.
Phe’be Foundation (Cuyahoga County)
What began as an effort in the classroom over 20 years ago has turned into the Phe’be Foundation. Currently, the organization serves high school students in Cleveland-area school districts, as well as adults throughout Cuyahoga County. Through staff expertise and strategic partnerships with other area organizations, the Phe’be Foundation helps connect individuals to internet services, financial coaching, mentorship opportunities, money management instruction, and other efforts that help people take control of their financial future.
Robert Sprague became Ohio’s 49th Treasurer of State on January 14, 2019, bringing to the office his extensive experience working on financial matters in both the public and private sectors. Under Treasurer Sprague’s direction, the office manages the state’s $39 billion investment and $11 billion debt portfolios, collects and deposits all state revenues, and oversees custodial assets.