TCA and University of Arizona Announce Consumer Financial Education & Research Advisory Board

Nonprofit Credit Counseling Firm Endows $10 Million Research Program for UA

PHOENIX, Ariz. (September 30, 2003) – Mike Hall, president and founder of Take Charge America, Inc.® (TCA), formerly Credit Counselors of America, Inc.® (CCOA), and University of Arizona President Peter Likins have announced the Advisory Board members for the new Take Charge America Institute for Consumer Financial Education & Research. The members are: Dr. Melinda Burke, interim director, TCA Institute, University of Arizona; Ronald Junck, attorney; James Pfeiffer, Vice-President, business banking, Wells Fargo Bank; Dr. Peter Rose, Professor Emeritus, banking and finance, Texas A&M University; Michael Hall, CEO, Take Charge America, Inc.; Dr. Soyeon Shim, Director, School of Family & Consumer Sciences, University of Arizona; Dr. Michael Sullivan, Director of Education, TCA; Pam Wagner, CCCS Relationship Manager, Bank One/First USA; Jane Rojas, Senior Vice President, investment officer, Wachovia Securities; Linda Block, Pima County Cooperative Extension Service, University of Arizona; Lynne Borden, Youth Development Specialist, University of Arizona; and Robert Fleming, Fleming & Curtis.

The TCA Institute for Consumer Financial Education & Research was endowed by TCA in April 2003 with a promise of up to $10 million in financial support from TCA, plus supplemental annual funding until the principal endowment matures, over the next 10 years. The purpose of the Institute is to engage in research, develop research-based consumer financial education programs, and work to disseminate those programs throughout the United States.

“We started working on this project back in 2001 with a small grant of $62,000 to the Credit Wise Cats, the UA chapter of Students in Free Enterprise,” said Hall. “We have been so impressed with the performance of the Credit Wise Cats and by UA’s commitment to consumer financial education and research that we decided to create and fund the Institute. Having an Advisory Board made up of leaders in the financial services industries and academia has been an important step in our mission to make the TCA Institute the leader in conducting research on personal finance and in developing and disseminating meaningful educational programs and materials.”

The purpose of the advisory board is to provide programmatic support and counsel to the Endowed Chair regarding the Institute’s education, research and outreach missions; to assist in developing short and long term Institute goals; to assist the Endowed Chair in identifying research agenda and issues that will impact the future of the consumer financial education field; to provide a collaborative mechanism with TCA; to monitor the Institute’s activities to ensure the Institute’s stability and financial security and to assist the public relations and marketing efforts which will create awareness of programs available through the Institute and will lead to the enhancement of the resources of the Institute.

“We have selected an outstanding group of business and community leaders to serve on our advisory board,” said Dr. Melinda Burke, interim Institute Director. “We all share a common goal and believe in TCA’s mission which is to help consumers achieve financial literacy, security and economic freedom.”

About TCA
Founded in 1987, Take Charge America, Inc. (TCA), formerly Credit Counselors of America, Inc.® (CCOA), is a non-profit 501(c)(3) charitable organization headquartered in Phoenix, AZ. TCA is committed to helping consumers gain control of their finances and offers a variety of services including education, budget and financial counseling, and when necessary, debt management.

TCA also serves as an effective resource for the business community; helping financially distressed consumers re-organize the finances and repay hundreds of millions of dollars annually that may otherwise have been lost to the community at large through discharge in bankruptcy. TCA's diversified programs are utilized by tens of thousands of families and single men and women throughout the United States each year.