New York Urban League
Financial Connections Annual Report
July 1, 2006 - June 30, 2007
Since 2004, the Financial Connections initiative has been generously funded through a grant from the Citi Foundation. The purpose of the initiative is to offer financial information to New York City adults and young adults seeking knowledge, tools, and skills to be better equipped to successfully manage their money. The program provides community-based workshops in a certificate series entitled “Managing Your Money Wisely”. The four-part (12 hours) series topics include: Banking and Money Management: Money Management Saving and Investing; Spending and Credit; and The Credit Landscape. The series workshops are co-facilitated by volunteer members of Citi’s African Heritage Network. From inception in 2004, the program has been attended by over 800 adults and 100 young adults who have attended at least one session of the series and now 271 are graduates.
In the 2006-2007 program years, sessions were offered in different locations in all 5 Boroughs during the winter / spring and summer / fall series. In response to participant feedback, the New York Urban League continued to collaborate with Citi affiliates to offer mini seminars on Investments, Insurance, Retirement, and Estate Planning at semi-annual graduations for participants who completed the certificate series. These features and topics were attended by over 180 adults. Graduates of the series may take advantage of free individual counseling on managing finances, budgeting, credit repair, and preparation for homeownership and / or entrepreneurship. If needed, after the initial consultations, graduates are referred to appropriate service providers. In addition to continuing to exceed annual projected goals, the following major accomplishments were realized in the 2006-2007 program year:
• 146 adult participants attended 10 certificate series (20-24 sessions)
• 86 adult participants completed the series to become graduates
• Increased the number of graduates who have made significant financial lifestyle changes as a result of attending the program
• The League continues to engage a number of community groups as partners including the Harlem Vet Center, Project Enterprise, YMCA centers in NYC, Churches, Primerica, and NYC service providers from a number of agencies
Continued support for programs such as these will help the New York Urban League – in conjunction with the National Urban League – with our efforts to increase financial literacy in communities of color.
For the 2005-2006 Annual Report, click here.
For more information about the Financial Connections Initiative, contact:
Diana Coleman
Financial Programs Director
New York Urban League
204 West 136th Street
New York NY 10030
(212) 926-8000 ext. 147
dcoleman@nyul.org
