Stackwell and Detroit Pistons Announce Partnership to Support Financial Access, Inclusion and Wealth Building for Detroit's Black Community

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Sep 21, 2022, 07:05 ET

The multi-year agreement will provide Detroit's Black community with access to programming and events to promote financial wellness, investment education, and investing as a means to build long-term wealth

DETROIT and BOSTON, Sept. 21, 2022 /PRNewswire/ -- Stackwell, the digital investment platform created to eliminate the racial wealth gap, and the Detroit Pistons today announced a multi-year strategic partnership to increase access to investment in the financial markets, and bring financial wellness and investment education programming to the Black community in the Detroit metropolitan area. Stackwell, which has just released the first-of-its-kind robo-investing app built to support personal investment and wealth building within the Black community, and the Pistons will co-host several events across Detroit to engage members of the community and help support their access to financial investment, in addition to other collaborations with the team to support Black students, and small business owners in the city.

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"The Detroit Pistons are excited to partner with Stackwell to help provide financial literacy and education resources throughout the Detroit community," said Erika Swilley, Vice President of Community & Social Responsibility. "Stackwell's goal of providing Detroit's Black community with access to financial literacy programs aligns with the Detroit Pistons commitment to being an asset for our community and those that call it home."

The partnership will provide financial literacy and investment education programming for high school and college students, as well as minority small business owners in the greater Detroit Metro area. The Pistons will host events with Stackwell at the Henry Ford Detroit Pistons Performance Center in the New Center neighborhood of Detroit, which will allow people in the community to utilize programs and resources to learn how they can build and sustain personal wealth through investment in the financial markets.

"Stackwell and the Pistons are committed to building a lasting, intentional partnership that will support the Black community in Detroit for the long-term," said Trevor Rozier-Byrd, founder and CEO of Stackwell. "Our work will have an impact across generations of Black people, helping to break down systemic barriers to the financial system, and empower individuals and business owners to take control of their financial futures and build generational wealth for themselves and their families."

"It was important to build a collaboration with ties across the Pistons' deep and diverse community initiatives that could evolve over time," added Rozier-Byrd. "We are honored to be a part of the team's important equity work because we believe the racial wealth gap is the social justice issue of our time."

Community engagement will be the foundation of all efforts in the partnership, with year one focused on Black-owned businesses in the Detroit metropolitan area. Subsequent years will introduce new programming for college students as well as other youth programs for high school students.

With a population that is eighty percent Black/African American, Detroit is the seventh largest Black consumer market in the United States. Stackwell is proud to be part of the larger revitalization and inclusion effort happening in the Motor City.

To learn more about Stackwell, visit our website: stackwellcapital.com. The Stackwell app can be downloaded at the App Store.

About Detroit Pistons: Since their arrival in 1957, the Detroit Pistons have become one of the most storied franchises in the NBA. With over 2,600 regular-season and playoff victories, the club has celebrated three NBA Championships (1989, 1990, 2004), five NBA Finals appearances (1988, 1989, 1990, 2004, 2005) and 11 Eastern Conference Finals appearances. In October 2019, the club opened the new Henry Ford Detroit Pistons Performance Center located in the New Center area, a campus that serves as the organization's practice facility and corporate headquarters. Since its purchase by Michigan native Tom Gores in 2011, the organization has focused on operating as a community asset while promoting a culture of innovation and industry-leading thought.

About Stackwell

Stackwell Capital, Inc., is a fintech company that has created a digital investment platform for the Black community that is designed to eliminate the racial wealth gap in America. Stackwell provides the financial investment tools and guidance necessary to help build lasting wealth, equity, and equal opportunity. Stackwell is a member of the 2022 Financial Solutions Lab, and MassChallenge U.S. Early Stage accelerator programs. For more information, visit stackwellcapital.com.

CONTACT: [email protected]

SOURCE Stackwell