This is a Guest Post from the Direct Express® Financial Education Center (DEFEC)

National Financial Capability Month is celebrated in April to highlight the positive impact financial education can make on Americans’ financial wellbeing and decision-making.

Six percent of adults were “unbanked” in 20221, meaning neither they nor their spouse or partner had a checking, savings, or money market account. This share was unchanged from 20212 and had increased from five percent in 2020.3 Seventy percent of Direct Express® cardholders are unbanked.

Direct Express® delivers increased financial capability and financial inclusion for millions of those unbanked Americans 24/7 through the Direct Express® Financial Education Center. Direct Express® also supports cardholders by providing a fast, safe distribution of government benefits and sharing tools intended to increase knowledge and skills.

Cardholders are empowered to access free educational resources and engage with financial education topics through specific playlists includingUsing Your Direct Express® Card and Benefits of Your Direct Express® Card.

Additional playlists included in the Financial Education Center are:

Financial education modules and materials including articles and playlists are available in both English and Spanish. They can be accessed via Direct Express® mobile app or the cardholder website, directexpress.treasury.gov from any computer or mobile device that has internet access.

  1. Federal Reserve: Economic Well-Being of U.S. Households in 2022, Table 16
  2. Federal Reserve: Economic Well-Being of U.S. Households in 2021, Table 11
  3. Federal Reserve: Economic Well-Being of U.S. Households in 2020, Table 8

For more information on DEFEC, visit our Financial Education Center page.

 SOURCE: DIRECT EXPRESS® FINANCIAL EDUCATION CENTER