Long Island Prosperity Center Hosts Financial Literacy Workshop for YouthBuild Long Island Students
Deer Park, April 26th, 2013. Yesterday, the Long Island Prosperity Center, funded by Citi and administered by United Way of Long Island held a day of education, information, motivation, financial literacy and fun for 25 YouthBuild Long Island students. It was a great day for United Way of Long Island’s income initiative to increase the earning potential of Long Islanders, as well as a great day for Citi’s Prosperity Center and a cohort of Youthbuild students. Citi hosted an innovative and motivational workshop on financial literary for YouthBuild students, a low-moderate income group in the midst of receiving valuable green energy and weatherization training. Students were asked to talk about what they were saving for. Answers ranged from college, a house or apartment, a business and education for their kids and, in keeping with the theme of learning to save, a follow up date was scheduled so Citi could monitor progress toward the individual goals of the students. Some students even received assistance in opening a bank account and were plugged into FAFSA to help them acquire low cost education. The workshop shared over 30 ways to save over $1000 a year including behavioral changes, shopping around for insurance and many more. One student quickly noted that if he stopped smoking he could save well over $1000 a year. To add a sense of fun and adventure, all students who attended the workshop were treated to free tickets to the Mets game at Citi Field on the 26th.
During the past year, the Center has served 335 low-moderate income individuals with more than 100 families receiving financial literacy counseling. A $50,000 grant provided by Citi supported a $10,000 subcontract with Family Service League to provide 1:1 financial coaching for 100 low to moderate income individuals. Some of the families had been impacted by Hurricane Sandy and one of the themes has been preventing a natural disaster from becoming a financial disaster.
This event was attended by top management of Citi including Eileen Auld, Sr. VP & Regional Director of NY Tri-State Community Development and Pat Edwards, Director of Community Development for Long Island.
For more information about the Long Island Prosperity Center visit: http://www.unitedwayli.org/income/prosperitycenter