8-Week Program Teaches Local Students to be Financially Prudent
Twelve local teenagers dedicated themselves this summer to participate in weekly one-hour long workshop sessions – held between June 16th and August 13th - to learn the basics of money management.
This eight-week long summer program focused on topics such as creating and maintaining a budget, managing a bank account, learning strategies for responsible credit card use and maintaining good credit scores in the future, among other topics.
The My Money Workshop, Inc. series was created in partnership with the Boys & Girls Club of Northern Westchester, based in Mount Kisco, and featured key participation from Patriot Bank.
Kathleen Reilly, a Vice President for Patriot Bank who was also the My Money Workshop lead instructor said, “This has been a truly valuable experience for the children. With a little guidance, they can all develop the skills to exercise and grow into responsible, fiscally conscious adults. Reaching and teaching our youth about being in control of their finances now is key for success in their lifetime.”
Boys & Girls Club of Northern Westchester CEO, Alyzza Ozer, states: “The mission at BGCNW is to enable and inspire all young people to realize their full potential as productive and responsible caring citizens. Fiscal responsibility is an essential component in meeting this goal both for the individual, his or her family and the community. We are appreciative of Patriot Bank and My Money Workshop, Inc. for their team’s commitment to our kids.”
“We are extremely grateful to partner once again this summer with an amazing organization, the Boys & Girls Club of Northern Westchester. These teen leaders in their community learned basic financial literacy tools over eight weeks which will have an impact for the rest of their lives. We are fortunate to have great volunteer instructors who provide real life examples in the workshops, thus creating more meaningful experiences for the students,” said Rob Yaffa, My Money Workshop, Inc. President
Several of the student participants, aged 13 and 14 spoke glowingly of the program: “I am learning how to manage my money and save. I am also learning new ways to use a credit card and how to keep a good credit score. This is helpful because it will help me in the future.”
Another offered, “I enjoy and always look forward to the program because I learn so much about how to save, track and budget. I like that they teach us how to use money wisely.”
“Teenagers taught financial literacy growing up, will become adults who have the tools available to manage their personal finances; from budgeting to maintaining a good credit score and even to saving for retirement” said Judith Corprew, Patriot Bank’s Executive Vice President and Chief Compliance and Risk Officer, who oversees all of the bank’s financial literacy programs. “We aim to help cultivate skills needed for financial independence and awareness. At Patriot Bank, we are honored to help facilitate this learning process.”
Over recent years financial literacy initiatives have been a key component of the Patriot Bank’s work within the communities it serves. It offers a free financial literacy guidebook available for download here.
My Money Workshop, Inc. is a leading financial literacy organization working throughout the New York Tri-State Area, educating over 2,700 students and teaching over 200 classes in 2018. The curricula incorporate topics such as: banking-debit cards-credit cards, paycheck, budgeting, savings, credit score, identity theft, insurance and more.
Over 500 children attend the Boys & Girls Club of Northern Westchester in Mount Kisco daily, a safe place with committed teachers, mentors, tutors and volunteers. Over 85,000 free, nutritious meals are served to the children in after school programs each year— over 67% of whom live at or below the poverty level. In addition, 50,000 children have learned to be water-safe, while learning the benefits of physical fitness and good health. For nine years running, 100% of the Club’s high school seniors, including those deemed at-risk, have graduated on time and gone on to college or technical school.