Financial Literacy Class Helps New Americans Learn the Importance of Banking
On Saturday, March 23rd, over 40 members of the Greater Fitchburg Haitian community gathered at the Eglise Pierre Angulaire to participate in a financial literacy workshop. Hosted by the ACE Center for New Americans and the Massachusetts Office for Refugees and Immigrants, this event played an instrumental role in sharing guidance, support and resources to those who attended.
After filling out Pre-Program Evaluations, the event began shortly after 10:30 am. All in attendance were welcomed to the program and introduced the topics to be covered throughout the program. In total, four main areas of Financial Literacy were discussed, including Basics of Banking, Budgeting, Credit Scores and Reports, and Buying a Home.
The program was kicked off with an introduction of the Basics of Banking. This presentation covered the benefits of using a bank, as well as the process of opening a checking account, writing checks, and the difference between credit and debit cards. This was then followed by an informational presentation on budgeting. Led by Pranim Magar, this discussion involved setting financial goals, and creating a spending plan to track monthly income and expenses. Reverend Mar Imsong then encouraged the group to stand and network before introducing the next discussion on credit scores and reports. This was a highly in depth and impactful presentation on building, maintaining and reporting your credit. The final area of finance was presented by Kip Langello on the process of buying a home. This discussion involved the pros and cons of buying versus renting, the components of a mortgage, and the steps required to buy a home.
Following the presentations, participants received a $50 stipend, as well as a certificate of completion of the program.
We would like to extend our gratitude to Rev. Daniel Auguste, Jean Evel Guerrier, Marie Jasmide Paul-Tervine and everyone from Eglise Pierre Angulaire for making this event possible. We would also like to thank the Massachusetts Office for Refugees and Immigrants for helping in organizing and supporting this event.
Our next Financial Literacy Class will be hosted at the ACE Center for New Americans on Saturday, April 20th at 10:00 am. To register, please visit https://www.acefornewamericans.org/financial-literacy-workshop