LendingTree Launches Charitable Arm to Help Cash-Strapped Families

by News Guy on April 26, 2010

On Tuesday, April 27, LendingTree is kicking off a 3-step initiative intended to raise awareness for Financial Literacy Day.

  1. The LendingTree Foundation: With mortgage rates rising and an unemployment rate hovering at 10%, CEO Doug Lebda wanted to do something to help families get back on their feet and knew that they needed to do more than just write a check. He collaborated with his team to develop The LendingTree Foundation, a private, non-profit organization designed to provide personalized coaching to cash-stricken families and individuals struggling on the road to financial freedom.
  2. Financial Fitness Academy: Launching on April 27, the LendingTree Foundation will be mentoring these Charlotte-based families as part of its Financial Fitness Academy, a one-on-one program that will educate them on personal finance issues, help them set financial goals, and provide them with the tools they need to stay on track. Consumers will be able to monitor each participant’s progress online where they can read blog posts about their journey and learn about ways they can jumpstart their own path to financial independence.
  3. Financial Future Fund: To further assist families participating in the Financial Fitness Academy, the LendingTree Foundation is also launching the Financial Future Fund, a grant-based aid program in which the company will offer Individual Development Accounts (IDAs) for participants who have completed the mentoring program. The IDA is a match-based savings account in which every dollar deposited will be matched by The LendingTree Foundation, up to $1,000.

To align these efforts, LendingTree will also debut a financial literacy microsite that will offer consumers tips and tools on becoming fiscally fit. LendingTree will also share the experiences of the program’s participants throughout the company’s social media platforms.

About LendingTree, LLC

LendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more.  LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 27 million loan requests and $207 billion in closed loan transactions. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com or 800-555-TREE.

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