April 27, 2010
LendingTree has established a foundation aimed at improving financial literacy among consumers.
"With mortgage rates on the rise and an unemployment rate hovering at 10 percent, we wanted to do something to help families get back on their feet," says Doug Lebda, chief executive of LendingTree parent Tree.com Inc. "While we knew we could simply write a check, The LendingTree Foundation and new financial literacy microsite will allow us to truly engage individuals and families by taking an active role in assisting them on the path to financial literacy."
The foundation will assist cash-strapped families via a program that will educate them on personal finance and help them set financial goals. LendingTree also will share the experiences of the program's participants through the company's social-media presence on Facebook and Twitter.
The foundation will create a grant-based aid program in which the company will match deposits made to participants' savings accounts.
Charlotte-based Tree.com is an online lending and real estate company. Its main businesses are LendingTree, which matches mortgage borrowers with lenders, and RealEstate.com, which provides services to individuals seeking homes and to real estate agents.