Bayview Towers Community Center and Jewish Family Service, both located in Stamford, are hosting a series of financial literacy seminars for their constituents during the next six weeks. These seminars are being taught by First County Bank employee volunteers.
“This is a terrific program that First County’s Willard Miley and Michael Victor have put together with these nonprofit agencies and our volunteer instructors,” Rey Giallongo, chairman and CEO of First County Bank, recently said. “I’m really proud of these First County Bank employees who will be taking time away from their work day to help individuals confidently read, analyze and manage their personal finances in order to lead more secure and satisfying lives.”
The areas to be covered include banking (managing checking and savings accounts), budgeting, and setting and implementing financial goals (short term to retirement). To set and achieve these goals, one must have a working knowledge of financial instruments, borrowing and insurance. Maintaining good credit will save an individual a significant sum of money in interest costs, insurance premiums and may even affect one’s ability to secure employment.
“Bayview Towers Community Center is very excited to work with First County Bank and provide our community with the education, skills and resources for them to become more self-sufficient,” said Kim Paoletto, resident services coordinator for Bayview. “Our goal is for participants to establish a budget, work within their means, increase their savings, and raise their credit score so they can strive for long-term success and enrich their own quality of life. These First County Bank seminars are a perfect match to Operation Pathways Financial Literacy program.”
“The bank knows the importance of helping people work through the financial maze of savings and credit products, and the importance of creating and protecting financial stability for JFS clients,” said Ilene K. Locker, Jewish Family Service’s director of employment and training. “We look forward to working with First County Bank.”
Based on the FDIC’s Money Smart for Adults instructional curriculum, First County Bank volunteers will instruct from four different modules that cover basic financial topics, including spending plans, the importance of saving, how to obtain and use credit effectively, and the basics of building or repairing credit. Bayview Towers Community Center’s financial literacy seminars are scheduled for Feb. 15, 22, 29 and March 7. Jewish Family Service’s financial literacy seminars are open to clients of its employment and training programs and are scheduled for Feb. 14, 21, and March 6 and 13.