‘Power’ Actor Michael Rainey Jr. Launches Financial Literacy Initiative

Rainey Jr. hopes to build greater financial futures for the next generation in Staten Island, New York.

Michael Rainey Jr., the actor known for his role on “Power” and its spinoff, has launched a financial literacy initiative in his hometown of Staten Island, New York.

Rainey Jr. started the “Educate a Student. Protect Yourself” initiative in partnership with The Restoring America Recovery Education (R.A.R.E) Foundation and Equifax. The $2.4 million charitable venture will help the youth in the New York City borough learn the tools and resources needed for financial empowerment.

To celebrate the program’s launch, Rainey Jr. held an event at Port Richmond High School in November. There, he spoke of his own journey with financial literacy.

He also encouraged the school’s senior class to make smart financial decisions as they enter the next phase of life and gave one piece of advice to the audience.

“If I was these kids coming from this exact room…,” began Rainey Jr. “The first thing I would do is go home and ask my parents what their credit score is. And then, as time goes on, you become an authorized user on their [credit card] and start building your own [score].”

Building one’s credit early is a clear key toward financial empowerment for the 24-year-old actor. Now, he hopes to build greater financial futures for the next generation in Staten Island.

Through the initiative, participants will learn more about money management, credit, and identity protection. The R.A.R.E. Foundation also specializes in financial recovery. The nonprofit pledged to sponsor 250,000 students alongside Rainey Jr. and Equifax with the knowledge needed to avoid identity theft.

Donors and students will get one year of Equifax Complete Premier to monitor their credit and identity. They will also receive two e-books, “The Power of Credit” and “Who Stole My Identity?” The latter was written by 7-year-old financial literacy advocate Preston “Kid Kredit” Luzunaris. Both focus on ways to safely navigate building one’s credit.

Moreover, a 12-course digital financial literacy curriculum will be available alongside a free credit consultation.