Moneythink adds Industry-leading Fin-Tech CEOs to its Board
OAKLAND, Calif., June 8, 2020 /PRNewswire/ -- Moneythink is thrilled to announce the election of its two newest members to its Board of Directors, Leigh Phillips, CEO of nonprofit fintech SaverLife, and Jerry Nemorin, CEO of financial health platform LendStreet.
Moneythink's CEO, Joshua Lachs, stated, "We're humbled and so incredibly energized to bring Leigh and Jerry onto our Board! Our mission is to ensure that all students have the opportunity to successfully complete college with little to no debt while bringing full transparency to college costs. Leigh and Jerry's individual and combined knowledge of and know-how in solving big, societal financial challenges will, no doubt, accelerate our already strong momentum. As importantly, their combined experience, expertise, and acumen in leading organizational growth will fuel Moneythink's ability to bring our bold, long-term vision of helping to build a more inclusive economy to life. Our entire organization, Board and staff, is excited to welcome them to Moneythink and get to work!"
Greg Nance, Moneythink's Board Chair, echoed the sentiment, adding, "Leigh and Jerry are industry-leading executives with tremendous track records. They've both built sustainable, impact-generating fin-tech organizations. Leigh and Jerry bring strategic acumen that will be transformative for Moneythink's 'less debt, more degrees' mission!"
About joining Moneythink's Board of Directors, Mr. Nemorin stated, "College is one of the most transformative and costly financial decisions one will ever make. To have to make that decision at 18 or 19 years old with very little guidance from your parents, as most first-generation college students have had to do, puts them at a significant disadvantage. As an immigrant, I know firsthand. Moneythink's innovative tools allow students to better assess their options and make the best decision for their future. I am honored to be joining the Board of Moneythink as it prepares to scale its impact and close the education equity gap." Likewise, Ms. Phillips said, "Moneythink gives students what they need to make one of the biggest decisions of their lives - how to finance their college education. Getting more young people — especially first-generation college students - to and through post-secondary education is one of the most important issues for us to solve as a society. This is as much a financial challenge as an education challenge. I am honored to serve on this stellar Board to help Moneythink emerge as a leader in both the edtech and fintech sectors."
About Leigh Phillips: Leigh is the President & CEO of SaverLife, a national nonprofit that helps working families achieve prosperity through savings. Since joining in 2015, Leigh has led SaverLife's transformation from a local direct service organization to a leading financial technology nonprofit. SaverLife's flagship program, SaverLife.org, now serves over 330,000 clients across all 50 states. Prior to joining SaverLife, Leigh was the founding Director of the San Francisco Office of Financial Empowerment, spending over 10 years in City Hall. Under Leigh's leadership, the San Francisco Office of Financial Empowerment spearheaded several "first in the nation" programs to increase financial inclusion, such as Bank On San Francisco, the first municipally led effort to bank the unbanked and Kindergarten to College, the first universal and automatic college savings program for public school children. On the national level, Leigh was instrumental in the creation of the Nonprofit Leaders in Financial Technology Coalition, of which she is an active member, and the Cities for Financial Empowerment Coalition, which advocates for greater financial opportunity and protection for all Americans in cities across the United States. Kindergarten to College was named a finalist in the Harvard "Innovations in American Government" Awards in June 2015. Leigh received the James Irvine Foundation Leadership Award in 2008 and was named one of the Bay Area's "Top Forty Under Forty" in 2013. Leigh's work has been featured in publications such as the New York Times, the Economist, Time Magazine, and the San Francisco Chronicle, and on NPR and CNN. Leigh currently serves on the Board of Directors of the Cities for Financial Empowerment Fund. She previously served as Chair of the Board of the Mission Economic Development Agency (MEDA) and on the Advisory Board of the start-up Level Money, which was acquired by Capital One. She received both her Bachelor of Arts in English Literature and Social Sciences and a Masters of Economic and Social Sciences in Women's Studies from the University of Manchester, in her native United Kingdom.
About Jerry Nemorin: Jerry is the Founder & CEO of LendStreet, a financial health platform that helps consumers negotiate and pay off their debt with a new loan. Prior to founding LendStreet, Jerry worked at Bank of America Merrill Lynch in its Global Corporate & Investment Banking division, helping major companies restructure their debt during the financial crisis and raise money from the high yield debt market. Jerry is now putting that expertise to use in a way that helps consumers in financial distress deal with their debt and rebuild their credit.
Jerry received a B.S. in Finance and Exercise & Sports Science from the University of Florida and an M.B.A. from the Darden Graduate School of Business Administration at the University of Virginia.
Moneythink, an ed-tech national nonprofit, focuses on dramatically increasing the number of historically underrepresented students graduating with postsecondary degrees while carrying little to no financial burden. We do this by harnessing the power of people and technology to bring transparency to college costs through our human-centered designed tools.
Since 2008, Moneythink has been a leader in tech-driven financial solutions for underserved youth, empowering over 32,000 young people to navigate their most important financial decisions. In 2019 we identified financial aid award comparison and the intersection of longer-term financial wellness as the key inflection point and most meaningful intervention for the largest number of low-income and 1st-generation students. Leveraging our award-winning work, Moneythink is meeting the college affordability problem at the scale at which it exists. This fall, we are launching an unprecedented, textbook-altering public-facing tool to take the guesswork out of college affordability for students and college advisors who support them. Providing clear and actionable guidance, our tool helps students: make highly informed enrollment decisions grounded in an accurate and complete understanding of college costs; weigh short and long term cost benefits; and create a financial plan to responsibly pay for school. Balancing scale and personalization, our intervention aims to completely transform the way students apply to college while bringing an unprecedented level of transparency to college costs to a currently opaque area.
By 2026, our goal is to have empowered 1 million students across all 50 states, putting them on path to a college degree while helping them, and our country, avoid $10 billion in student debt.