U.S. Senator Kay Hagan of North Carolina dropped by LendingTree’s Charlotte offices on Friday and talked with us about the role of financial literacy in helping people become more empowered in their personal finance decisions.
Hagan said she believes that a deeper understanding of finances can help people throughout their lives, and should assist them in making smarter financial decisions with both long- and short-term purchases.
“Credit is great for long term investments but it’s not good for buying your groceries or paying your bills.” she said. “We need to understand the difference.”
Hagan toured the LendingTree office and met with our CEO Douglas Lebda and other top executives to talk about financial literacy and the newly-formed LendingTree Foundation, a non-profit group that helps individuals take control of their personal financial lives. She visited our Customer Care Center, where licensed loan officers help borrowers find the right loan product – even if it’s the same loan product they are already in.
Financial literacy is an issue that is particularly meaningful for Hagan (and it’s also part of the newly-signed financial reform legislation). As a state legislator in North Carolina, Hagan sponsored a law that requires all high school students in North Carolina to complete a course on financial literacy before graduating from high schools. We like what she has to say, too, because encouraging financial literacy is such an important part of our mission.
LendingTree has always been about empowering customers by providing choice, convenience and value in the loan shopping experience.
For example, as part of our long-term commitment to financial literacy – called the Smart Borrower program – we created a series of easy-to-read guides that help people to plan and save for the future, a glossary of mortgage terms and personal finance calculators. A “Living with Debt” report detailed scholarly research underwritten by LendingTree and conducted by consumer credit expert Dr. Robert D. Manning, and much more.
We look forward to sharing ideas with Senator Hagan in the future, and in continuing to promote financial literacy.
- By Nicole Hall, Editor-in-Chief
