Conway, AR – Arkansas Asset Builders, Regions Bank, and the Faulkner County Library are teaming up this summer to educate residents of central Arkansas about credit. The group will be offering a series of free workshops aimed at helping Arkansans understand the basics of credit, how to use credit effectively, and how to repair poor credit. The workshops will be held monthly at the Faulkner County Library, at 2pm on the second Saturday of each month: June 10, July 8, and August 12.
Arkansas ranks in the bottom 10 states by average 2022 FICO credit score, according to Experian. The average score for Arkansas consumers is 694 – 20 points below the national average of 714. Over 46% of consumers in Arkansas have a limited credit history or a poor/fair credit rating, which constrains their access to additional sources of credit.
Having poor credit can hurt consumers even if they don’t have or don’t want a credit card, by making everyday things like car insurance even more expensive. It can also make it more difficult to rent an apartment or get a new job. And having a limited credit history or poor credit can make it nearly impossible to get a business loan or qualify for an affordable mortgage.
Austin Norman, Branch Manager and Associate Vice President at Region’s downtown Conway branch, will present information and resources at each workshop from Region’s Next Step financial wellness curriculum and the Consumer Financial Protection Bureau (CFPB). These workshops are also part of Arkansas Asset Builders’ ongoing financial literacy program, which empowers hardworking Arkansans by helping them access free tax preparation, set financial goals, manage spending, deal with debt, and build savings.
“How to improve your credit score is one of the most requested topics in our financial literacy program. Our clients know that they will benefit from better credit, but are often unsure about specific steps that they can take to see their desired outcomes,” said Joyia Yorgey, Executive Director of Arkansas Asset Builders. “These workshops are aimed at providing those basic, actionable steps that any person can take to build or improve their credit history – no matter their financial situation or previous experience with credit.”
More information and registration for these upcoming workshops is available on the Faulkner County Library’s website:
Credit Basics, June 10 – https://fcl.libnet.info/event/8344239
Using Credit Effectively, July 8 – https://fcl.libnet.info/event/8344252
Repairing Credit, August 12 – https://fcl.libnet.info/event/8598457
Latest news in Conway and for Conway Scene.