District 8 Council Member Edward Burroughs III has partnered with Prince George’s Community Federal Credit Union (PGCFCU) and the Financial Empowerment Center at PGCC to launch a program to help residents boost their credit scores and secure a healthier financial future. 

This credit-builder loan program allows District 8 residents to make $44 monthly deposits for a year and receive a $500 match at the end of the year. Past participants in a similar program have seen, on average, a 20- to 67-point jump in their credit scores after making consistent payments. 

“April is Financial Literacy Month, and it’s a fact that Black and Brown people generally have lower credit scores and less access to financial services,” said Council Member Burroughs. “This program aims to break the cycle by educating citizens about how improving their credit score can be life-changing, and, more importantly, allowing them to make that change.”

“We are honored to facilitate this unique opportunity for District 8 residents,” said PGCFCU President and CEO Diane Coleman Brown. “Good credit is vital to achieving financial success, and PGCFU has been committed to helping the community build the lives they desire for over 55 years. I look forward to supporting program participants as they take this next step toward financial freedom.”

The program is funded through the MGM Local Impact Grant Fund, a portion of gaming and tax revenue dedicated to the community around the casino.

“As the recipient of this MGM Local Impact Grant, the Financial Empowerment Center at Prince George’s Community College takes great pride in improving money management outcomes for county residents,” said Heath Carelock, the center's program director. The 100% match not only changes financial behavior but also offers participants confidence beyond the program timeline, whether with home-buying or pursuing new credit.” 

Council Member Burroughs has long championed financial literacy and he helped create a Financial Literacy Pilot Program for PGCPS high school students as a school board member. Following the pilot, Financial Literacy became a graduation requirement this school year. 

Burroughs and other program representatives are available for taped and live interviews about this initiative and the importance of establishing good credit.

For more information on how to sign up, Click Here.