New York Urban League
Financial Connections Annual Report
July 1, 2005- June 30, 2006
The Financial Connections initiative is generously funded through Citigroup offering 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”. Workshop topics include banking and money management, saving and investing, spending and credit and the credit landscape.
During the 2005-2006 program years, sessions were offered in different locations in Manhattan, Brooklyn, and Queens. In response to participant feedback, the New York Urban League collaborated with Citibank affiliates to offer additional seminars on Investments, Insurance, Retirement, and Estate Planning at quarterly graduations for the adults who completed the certificate series. These features and topics were attended by a total of 165 participants. Graduates of the series are also offered free individual counseling on finances, credit, and preparation for homeownership. The following major accomplishments were realized in the 2005-2006 program year:
- 51 participants attended pilot workshops for new / additional credit information
- 27 young adults in Far Rockaway and 210 adults CityWide attended at least one session of the “Managing Your Money Wisely” workshop certificate series (100% of goal), with 114 adults completing the series to become graduates
- 10 of the series graduates were able to successfully manage credit issues, 2 graduates became homeowners, and 20 reported using the services of financial planners as a result of information obtained in the workshops
- Citigroup volunteers from the company’s African Heritage Network continue to co-facilitate workshop sessions
- The League continues to engage a number of community groups as partners including the Harlem Vet Center, Project Enterprise, Philip Sousa Middle School in the Bronx, Queens YMCA, and the National Council of Negro Woman in the Bronx
