Partnerships

THE UNITED STATES CONFERENCE OF MAYORS COUNCIL ON METRO ECONOMIES & THE NEW AMERICAN CITY

DOLLARWISE GRANT RECIPIENTS SINCE 2004

Innovation Grant Summer Youth Campaign (SYC) Grant

Welcome
Partnerships is the annual publication highlighting the local nancial education efforts of cities that are nalists for the DollarWise Innovation Grants.
As nalists, these cities have among the best nancial literacy programs in the nation. DollarWise invites mayors, their staff, and other interested parties to review the proles of these cities efforts to garner ideas and inspiration for their own nancial education campaigns. What is DollarWise? DollarWise: Mayors for Financial Literacy is the official nancial education and literacy effort of The United States Conference of Mayors and its Council on Metro Economies & The New American City. Since its inception in 2004, mayors and cities across America have made a commitment to increasing their residents nancial literacy by participating in all that DollarWise has to offer. DollarWise supports the goals and objectives of the National Strategy for Financial Education 2011, released by the federal Financial Literacy and Education Commission in December 2010. The Campaign invites mayors and city staff to examine their communities nancial education needs; create an action plan; and forge partnerships with nancial institutions, faith-based groups, non-prots, local businesses, and others in the community to address this important issue. DollarWise offers support through its two grants programs, technical assistance, and partnerships with national organizations. The United States Conference of Mayors asks every city to make a commitment to nancial education and participate in DollarWise. Together, we are building a strong foundation for the future of our communities and those who call them home. What are Innovation Grants? Underwritten by the Bank of America Charitable Foundation, the founding sponsor of DollarWise, the Innovation Grants comprise an annual program that recognizes the most creative and innovative local nancial education efforts underway in America today. Three Innovation Grants of $15,000 each are awarded each year and can be used by the recipient cities to expand and enhance a variety of programs. Applications are accepted each fall, and the awards are presented at The U.S. Conference of Mayors winter meeting in Washington, D.C.

CO N T E N TS
2013 DollarWise Innovation Grant recipients

Baltimore, Maryland Philadelphia, Pennsylvania San Francisco, California

2013 DollarWise Innovation Grant nalists

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Boise, Idaho Charleston, South Carolina Chula Vista, California New Orleans, Louisiana Paterson, New Jersey Pinellas Park, Florida
THE UNITED STATES CONFERENCE OF MAYORS 1620 Eye Street NW Washington, D.C. 20006 202.293.7330 202.293.2353 fax usmayors.org Michael A. Nutter Mayor of Philadelphia President Scott Smith Mayor of Mesa Vice President Kevin Johnson Mayor of Sacramento Second Vice President

7 8 9 10 11 12

Mayors for Financial Literacy

bedollarwise.org | dollarwise@usmayors.org

Tom Cochran CEO & Executive Director

YouthWorks Summer Jobs Program

ach year The City of Baltimores YouthWorks program places approximately 5,000 young people ages 14-21 in six-week summer work experiences at more than 400 worksites across Baltimore. The program operates through the Mayors Office of Employment Development (OED) with the assistance of employers and workforce partners, and financial support from multiple contributors. Participants work in a variety of industries, and gain basic workforce readiness and career-specific skills. Approximately half of YouthWorks participants are 14-15 years old and employed for the first time, which underscores the need to incorporate basic financial education into the program. Financial literacy training YouthWorks was able to offer financial literacy sessions to participants for the first time in 2011. A coordinator was hired at that time to ensure that all YouthWorks participants receive financial literacy training. To reinforce the in-person curriculum, all YouthWorks participants received money management-related attachments with each of their paychecks. Pre- and post-program tests were given to all Youth employees, participating in the participants to measure knowledge gained. In Baltimore YouthWorks Program. 2012, the average pre-test score was 55%. At the conclusion of approximately 90-180 minutes of financial education, post-test scores increased to an average of 89%. Partnerships YouthWorks partners with hundreds of businesses, nonprofits, community organizations and government agencies that serve as YouthWorks worksites, and provide job opportunities to thousands of Baltimore youth each summer. These groups also play a critical role in the financial education component of YouthWorks by allowing their workers to participate in financial education workshops during their workday. Baltimore City also received a $4,000 grant from the USCM DollarWise Summer Youth Campaign to fund the launch of its financial literacy program in 2011.

Baltimore
MARYLAND

Houses along Guilford Avenue, Charles Village, Baltimore, by Jack Lyons via Flickr, CC BY-NC-ND 2.0

Mayor Stephanie Rawlings-Blake

Contact: Kate Schmelyun 410.396.6722 kschmelyun@oedworks.com Works participants receive financial literacy training. Pre and post testing of YouthWorks participants will be conducted to measure their financial literacy knowledge gains. The assessments will also be tailored to differentiate between first-time participants and those who have participated in YouthWorks financial literacy workshops in previous years. This way, knowledge retention will be tracked. Mayoral involvement Mayor Rawlings-Blake and the City Council of Baltimore are dedicated supporters of the YouthWorks program and its financial literacy efforts. The Mayor sees YouthWorks, inclusive of its financial literacy component, as an instrumental part of preparing Baltimore youth for the responsibilities of adulthood, which benefits the City and its economy. The City invests significantly in YouthWorks each year, despite budget constraints. In 2012, Baltimore City general funds supported approximately 1,300 YouthWorks positions, in addition to 200 positions paid for by individual City agencies. The Baltimore City Department of Social Services, together with the Maryland State Department of Human Resources, provided summer jobs funding for nearly 900 foster care youth and those receiving public assistance. When Baltimore YouthWorks participants were winners in the DollarWise Summer Youth Jobs Contests in 2011 and 2012, Mayor Rawlings-Blake personally presented the prizes. The Mayor will play a part in recognizing winners of the local financial literacy contests that YouthWorks will implement in 2013. Looking to the future The DollarWise Innovation Grant will allow the YouthWorks program to implement two primary initiatives, which will: 1. Bolster existing, effective financial education and further engage participants to ensure that they are not only retaining what they have learned, but also expanding their knowledge through the summer; and 2.Encourage all YouthWorks participants to open bank accounts. Specifically, the grant money will be used to support the salary of a coordinator to: oversee YouthWorks financial literacy component, be responsible for ensuring that all program participants receive financial literacy training, and support the promotion and implementation of efforts to achieve the above-stated goals. YouthWorks will achieve the first goal through a social media campaign on Facebook, which will simultaneously help better connect with YouthWorks participants in the social media space while reinforcing financial literacy lessons. Through the campaign, every other week for the duration of the summer program, YouthWorks will post a quiz or question on personal finance on the Facebook page. Three quizzes/questions will be posted. The first YouthWorks participant to answer each quiz/question correctly will win a prize of a $50 pre-paid gift card. To achieve the second goal, YouthWorks will run a second contest that will encourage participants to visit local banks and open accounts. The winner will receive an iPad mini. Youth will be able to participate by posting photos of themselves at a local bank on the Facebook page.

DollarWise staff present a 2013 Innovation Grant to Mayor Stephanie Rawlings-Blake, Office of Economic Development Director Karen Sitnick, and Hire One Youth Chairman Don Fry.

The grant funds were used to provide all YouthWorks worksite supervisors with training so that they could infuse a financial literacy curriculum into each participants summer work experience. An innovative approach Utilizing the YouthWorks program to deliver financial education to both in-school and out-of-school youth in Baltimore is a natural, yet innovative, approach to increasing financial literacy among Baltimore residents. YouthWorks encourages its participants to share the financial knowledge that they gain through the program with their friends, family members and others close to them in the hopes of creating a ripple effect within the community. YouthWorks has also implemented an online registration process and will use its registration website, youthworks. oedworks.com, as an additional financial education resource by providing links to Hands On Banking materials for easy access not only by YouthWorks participants, but by their family members as well. In 2013, financial literacy education will again be incorporated into the YouthWorks program with the goal of reaching 100% of the programs 5,000 participants. A coordinator will again be hired for the summer to oversee the financial education component of the program and ensure that all Youth-

Tools for Financial Growth

ince 2008, Philadelphia has been a national leader in foreclosure prevention, saving over 5,000 homes through its Residential Mortgage Foreclosure Diversion program. However, a recent evaluation found that 85% of participants receiving loan modifications continue
to struggle financially nearly two years later. In order to prepare homeowners recovering from the crisis of foreclosure for long-term financial success, Philadelphia established a comprehensive financial education effort called Tools for Financial Growth (TFFG). TFFG is a free service that helps homeowners develop better financial planning habits. It is designed to promote financial stability and reduce future foreclosure filings for Philadelphia residents. A hands-on approach TFFG offers classes including: Setting Priorities/Budgeting, which focuses on determining needs versus wants, and on tracking spending habits; Introduction to Quicken, which teaches clients how to utilize technology in financial management; and Understanding & Recovering Your Credit, which explains how credit scores are calculated, how foreclosure impacts that score, and how to recover a good credit score over time. Homeowners who complete this three-part program receive a certificate of completion that is also submitted to their mortgage lender. Since its inception in 2012, 300 residents have successfully completed the program. Interest in TFFG continues to grow with nearly 100 residents registering each month. In 2013 the City will seek to evaluate the effectiveness of the program based on measured outcomes, including a comparison of re-default rates between program participants and non-participants, as well as by considering the number of people reached. This self-evaluation strategy will allow the City to closely monitor the precise added value of the TFFG initiative for struggling homeowners. Forging community partnerships The Citys Residential Mortgage Foreclosure Diversion Program is a mediationbased foreclosure prevention program that facilitates the positive resolution of foreclosure complaints. It requires the cooperation and participation of several branches of government across various jurisdictions and is overseen by a steering committee made up of court officials, lenders attorneys, City Departments, housing counseling agencies, and pro-bono legal services.

Philadelphia
P E N N S Y LV A N I A

Elfreths Alley, Philadelphia, by Katie Delhagen via Flickr, CC BY-NC-ND 2.0

Mayor Michael Nutter

Contact: Katherine Martin 215.686.2171 katherine.martin@phila.gov and several communitybased non-profits (e.g., The Partnership CDC, West Oak Lane CDC, and Finanta Center) help to host TFFG workshops. The target audience The TFFG population is a specifically targeted group of homeowners facing the particular financial crisis of home foreclosure. Given the immediacy of their predicament, the targeted population is highly motivated to pay attention to financial management and more open to considering changes to existing behavior. owner can build upon going forward. Peer support While the crisis of foreclosure is usually isolating, TFFG participants meet regularly with others in the same situation, building supportive peer relationships while attending classes. It also recruits volunteers from the local financial community (accountants, financial advisors) to regularly meet with participants who have expressed interest in a financial mentor. Moving forward The DollarWise Grant will be used to support the additional costs associated with expanding the size of the Tools for Financial Growth program in a variety of ways, but primarily aimed at addressing the goals of site expansion and increased program participation. Furthermore, a portion of the granted funds will be allocated toward expenses for an independent, professional program evaluation to achieve TFFGs goals of measuring and improving outcomes. With the DollarWise Innovation Grant, Philadelphia will expand its financial education efforts and improve long-term foreclosure prevention outcomes for the Diversion Program. Specifically, the initiative will substantially improve program participation rates for the target audience of financially vulnerable city residents. For example, with the help of the allotted DollarWise Innovation Grant funds, TFFG could reach its Year 2 participation goal of 750 people next year, serving an impressive additional 450 residents compared to the initial start-up year.

Mayor Nutter presents a certicate to Tools for Financial Growth Graduate

TFFG builds on this collaborative framework by offering clients of the Diversion Program additional support to help them understand the underlying principles of sound financial management. Program activities are administrated by a non-profit called the Homeownership Counseling Association of Delaware Valley, which recruits instructors, develops the curriculum and delivers orientation sessions and workshops. The actual three-class workshop series is conducted in the communities where people live,

While TFFG has access to a captive audience, positive messaging draws in homeowners who might otherwise not participate. Orientation is centered on a financially themed card game, Money Habitudes a twist on solitaire that enables homeowners to discover underlying values toward money/spending and how they affect financial behavior. Many in the Diversion Program are asked to put money aside for delinquent payments as part of the modification agreement. Succeeding in meeting the terms of loan modification is the initial success, which the home-

Smart Money Network

perating through the San Francisco Office of Financial Empowerment (SF OFE), The Smart Money Network (SMN) is San Franciscos first effort to consolidate and promote financial education opportunities using a streamlined approach. SMN represents
financial education practitioners, philanthropic funders and public sector agencies dedicated to providing high-quality, accessible financial education services. Strategic partnerships The SF OFE has partnered with over 60 community-based organizations to teach financial education workshops and connect low-moderate income individuals and families to the financial mainstream. In addition, it has engaged key city agencies including the Mayors Office of Housing, the District Attorneys Office and the Human Services Agency to further integrate with core city services and objectives. The DollarWise Grant will support SF OFE in expanding its work and partnerships with key demographics. The SF OFE represents over 15 financial education practitioners, philanthropic funders and local public sector agencies dedicated to providing high-quality, and accessible financial education services. Over the past few years the SMN and partners have worked together to host the largest Financial Planning Day in the nation three years in a row. It has also worked to develop neighborhood Smart Money Clinics, teach financial education workshops, and develop the vision of financial education in San Francisco. As a collaborative SF OFE has built the SF Smart Money Network website, a one-stop shop for all SF residents financial education and counseling needs (www.sfsmartmoneynetwork.org). The Smart Money Network is one of the most robust and successful examples of a financial education network in the United States. Program successes Through the citys leadership, the SMN network has: Provided free, in person, financial counseling sessions with certified financial experts to more than 1,900 Bay Area residents through San Francisco Financial Planning Day, Financial Advice Line and Neighborhood Financial Clinics; Conducted over 150 financial education workshops with partner organizations

San Francisco
CALIFORNIA

Painted ladies, Steiner Street at Alamo Square, San Francisco, by Pedro Javier Jimnez via Flickr, CC BY-NC-ND 2.0

Program partner serving domestic violence survivors.

Mayor Ed Lee
Contact: Marco Chevarin 415.554.7444 marco.chavarin@sfgov.org Financial Empowerment and SF OFE stakeholder list serve. The following breaks down the different aspects of the toolkit: Summary of Program Goals and Key Partnerships Survivors of Domestic Violence People with Disabilities Elders Affordable Housing Residents Partnership Models Sample Budgets Roles and Responsibilities Timeline Financial Education and Counseling Materials Financial Education Workshop Materials Sample Curriculums Sample Pre Class Evaluations Sample Post Class Mayoral support The mayors office and several major city agencies are currently engaged in San Franciscos financial education work, and eager to expand partnerships. Mayor Lee personally appears at SF OFE events, issues press releases and proclamations supporting the work and directs key personnel to support SF OFE and financial education efforts. Evaluation Tools Counseling Guides and Outcome Tracking Model Outcomes for Four Target Groups Change in knowledge of Financial Content Behavior Change Uptake of Financial Products Income, Credit, Debt Changes Best Practices and Challenges for all Four Target Groups Findings in implementing Financial Education Workshops Finding in implementing Financial Counseling

tional webinars resulting from the development of tailored financial education approaches of its target groups. in two years reaching over 2,300 San Francisco residents; Provided professional development training to over 300 financial education practitioners, financial institution representatives and stakeholders through the SMN Professional Development Workshops Series; and Launched the SMN Financial Education and Resources Directory, an online tool that pre-qualifies clients for appropriate financial education resources, products and services. Target demographics SF OFE targets four key demographics for its financial education program domestic violence survivors, residents of affordable housing, adults with disabilities, and older adults. When evaluating the effectiveness of its program SF OFE focuses on the following measures: the number of clients attending each financial clinic, the number of planners and counselors participating, the monitoring of client progress through partnerships, the number of groups offering tailored services, and the number of clients graduating from the workshop series. The SF OFE will use the DollarWise Innovation Grant to further support its successful financial education programming, focusing on the dissemination of results, learning materials, and best practices through the development of toolkits and informaSF OFE will leverage the DollarWise Innovation Grant to bring the best practices from its tailored workshops to the field, building on prior successes and delivering technical assistance to other municipalities looking to engage in effective, in-depth financial empowerment programming. Program toolkit Based on our program design, implementation, materials and findings, San Francisco will develop a Tool Kit for other cities and practitioners to use as a guide to expand work in their respective cities. In addition, recorded and live webinars will be developed to promote the toolkit. All recorded webinars will be hosted at www.sfsmartmoneynetwork.org/resources. Outreach will be conducted through the US Conference of Mayors, National League of Cities, Cities for
Program training workshop with one-on-one assistance and support.

Boise I DAH O
Mayor David Bieter
Contact: Theresa McLeod 208.384.4406 tmcleod@cityofboise.org The goal of the Treasure Valley Economic Action Program (TVEAP) is to provide financial literacy services and opportunities for victims of domestic violence in the Treasure Valley. By partnering with area womens shelters, the Department of Corrections, and other agencies working directly with this population, Boise is assured to reach its target program. Dr. Sanders created monitoring instruments specifically for the program, and works with MSW graduate students at Boise State University, tracking and analyzing collected data. An innovative approach Classes are facilitated by two bilingual financial educators who are employed by the collaborative lead agency, Womens & Childrens Alliance. The curriculum was developed by the Redevelopment Organizations for Women (ROW) in St. Louis, Missouri, and is unique in its focus on safety issues inherent in helping women become less economically dependent upon abusing partners. The course curriculum consists of four two-hour sessions. Class 1, Money and Power, addresses empowerment, oppression, and how money works in the USA. Participants work to identify feelings and values around money, ways to reduce self-blame, and begin to identify basic money management tools.
Mayor Beiter with participants in the Treasure Valley Economic Action Program.

hensive economic plan to guide their financial lives. Program successes Program graduation rate of 74 percent. Graduates are publicly honored at a ceremony during Idahos Smart Women/Smart Money Conference, an annual event which draws several hundred attendees. The ceremony features remarks and personal stories from a few of the graduates. Increased awareness of economic abuse. Beyond teaching, the financial literacy educators interface with a broader public to expand awareness and heightened understanding of how often financial concerns cause women to stay in abusive relationships. Community partners United Way of Treasure Valley recognized a collective need for financial literacy training for abused women in 2009, when several area domestic violence agencies independently requested support for services. Rather than fund isolated programs, United Way convened a meeting with leaders from a number of agencies throughout the valley, and successfully proposed the idea of all agencies sharing the services of two trained financial educators. These agencies included: Womens & Childrens Alliance (lead agency) Valley Crisis Center Hopes Door Nampa Family Justice Center Gem Family Resource Center Family Advocacy Center and Education Services (FACES) Easter-Seals Goodwill Warm Springs Counseling Center Idaho Womens Corrections

audience. Since the December 2010 program launch, 66 group classes have been facilitated to nearly 224 participants. Additionally, many of the students participate in individual coaching sessions to continue to work on gaining economic independence in a one-on-one setting to work through the details of their specific financial situation. TVEAP prides itself on its ability to measure and assess program impact and outcomes. Each participant completes assessment tools developed by Dr. Cynthia Sanders, MSW, Ph.D., who worked on initial development of the

Class 2, Developing a Spending Plan, teaches steps for taking a financial inventory, storing important documents, and how to develop a budget or spending plan. Class 3, Understanding Credit, includes learning how to read a credit report, how credit impacts lives, and ways to improve credit without money. Participants also learn ways to negotiate on debts and documentation for dealing with past bills. Class 4, Banking and Investing, provides details on options for banking or re-entry into the banking system, and basic keys to investing and investment tools. Each student leaves the class with a compre-

Charleston S O U T H CA RO L I NA
Mayor Joseph P. Riley, Jr
Contact: Geona Shaw Johnson 843.724.3768 johnsong@charleston-sc.gov The City of Charleston recognizes the vital importance of financial literacy training and has supported financial education for more than twenty years. Under the leadership of Mayor Joseph P. Riley, Jr., who provides the vision, expertise and staff, the Citys programs have experienced phenomenal success. In each program administered, financial literacy training is a requirement. The Citys success is based on its commitment to the community and the outstanding partnerships formulated. The population targeted by the city and its partners include persons who are low to moderate income and financially challenged. Community outreach Marketing and outreach are essential to ensuring that this target audience is reached. Television, radio, printed flyers, billboards, brochures, bus advertisements and PSAs are utilized. In addition, contact with the school district, CBOs, Faith-Based Organizations and other nonprofits enable Charleston to reach the intended audience. Programs and activities are administered by nonprofit organizations located throughout the community, with training classes being offered on a monthly basis to include a Saturday class. The one-on-one training is offered weekly and is planned to accommodate the clients work schedule. The Greater Charleston Empowerment Corporation utilizes the FDIC Money Smart training, which includes training on protecting finances, using a checking account, preparing a budget, understanding the home-buying process, borrowing basics, understanding banking services, the use of credit, reading the credit report and understanding installment, auto and home equity loans. The training focuses on budgeting techniques that reduce the stress of clients living pay check to pay check. The training targets both youth and adults and was created for the Homeownership Resource Center in collaboration with Stephen J. Schoenbeck. Measuring effectiveness The overall effectiveness of the programs is measured by the number of persons participating and achieving financial success, improved credit scores, increased savings accounts balances and making informed decisions related to accessing loans and services. Follow-up is conducted for a period of twelve months to ensure the ongoing success of the client. During 2011, the city and its partners achieved success by serving 5000 households and maintaining organizational and operational capacity. Mayoral support and partnerships The City of Charlestons ability to succeed is primarily due to the leadership of Mayor Joseph P. Riley, Jr., and the outstanding partners that have collaborated to improve the financial capacity of its community. These partners are committed to improving the standard of living for persons of low and moderate incomes. Charleston collaborates with these partners on various initiatives to include: first time homeownership, owner-occupied rehab, small business start-up and financial literacy training. The partnership with local financial institutions is essential. They provide direct products and services to clients, support programs through funding contributions and provide financial training.

Participants in a Money Smart workshop.

The Charleston Trident Urban Leagues Debt Management/Budgeting Course includes topics outlined by the FDIC Money Smart Program. Sessions are designed to change a clients spending habits from uncontrolled spending to planned spending, which is achieved by developing a monthly budget. The expected outcome is financial stability.

Chula Vista CAL I F OR N I A

Mayor Cheryl Cox
619.691.5044 ccox@chulavistaca.gov The City of Chula Vista has supported financial education in multiple ways over the years, partnering with key organizations as Junior Achievement (JA) and local banks to help residents become confident money managers. JA educates students in elementary, middle and high school about financial management. During 2011-2012, JA impacted over 46,000 students in San Diego County. Of these students, 5,858 were enrolled in the Chula Vista Elementary School District (CVESD), but only 650 students benefitted from a JA program in Chula Vistas Sweetwater Union High School District (SUHSD). Establishing nancial knowledge Chula Vista strives to help high-school students understand personal economics and what they need to do to establish a strong financial foundation. The city focuses its efforts in an area with lower incomes and lower high-school graduation rates. JA currently works with three high schools: Castle Park, Hilltop and Palomar. The citys goal is to expand the program to Chula Vista, Bonita Vista, and Eastlake High Schools with particular focus on students enrolled at the schools learning centers. Learning center students are at risk of not graduating from high school and study coursework in an alternative format. They need encouragement and assistance to recognize that graduating from high school will help them get jobs and that careful money management will help them be successful adults. Program activities include five to seven-week, onehour, hands-on activities led by a trained business and/or community volunteer facilitator. Teachers choose from courses such as JA Personal Finance, JA Success Skills, and JA Be Entrepreneurial. At the completion of the course, program graduates are invited to attend a power lunch with representatives from organizations such as: the South County Economic Development Council, Chula Vista Chamber of Commerce, and the City Managers Council of Economic Advisors. Representatives are seated with students so they can interact one-on-one in small groups. A power lunch will be held in Spring 2013 before the end of the school year. Meeting community needs Curricula and materials are provided by JA and modified to meet student needs. Junior Achievements mission is to inspire and prepare young people to succeed in a global economy. Its curriculum teaches students the skills necessary to have successful futures and to be productive, contributing members of society. The curriculum is age-appropriate, interactive and engaging, and correlates with Californias school state standards. All activities teach students essential skills in financial education, workforce readiness and entrepreneurship. JA volunteers provide guidance and real-world examples of the principles they are teaching and inherently inspire students to stay in school. Partnerships Partnerships with community leaders and organizations include: SUHSD, JA, Chula Vista Serves (CVServes), FIRST Robotics, South County Economic Development Council, and Chula Vista Chamber of Commerce. SUHSD has been a committed partner in the Mayors Graduation Works campaign, a community-driven effort to improve graduation rates. Graduation Works is a result of the work by the Mayors Chief Service Officer (CSO) who manages CV Serves, an impact volunteering campaign. JA was an early supporter of both CV Serves and Graduation Works. Mayor Cox has been a major supporter of FIRST Robotics due to its emphasis on engineering, innovation and entrepreneurism.

Chula Vista strives to extend knowledge of the practices needed to establish a strong financial foundation and knowledge of personal economics to high school students in the region of the city where our school districts experience lower incomes and lower graduation rates.

New Orleans LOU I S I A NA

Mayor Mitch Landrieu
Contact: September Hargrove 504.658.4277 schargrove@nola.gov Financial education efforts by the City of New Orleans have primarily targeted youth and first-time homebuyers. Under Mayor Landrieus administration, financial literacy has been an integral component of the Citys Summer Youth Employment Program (SYEP) and a program for out-of-school youth called Choices. Annually over 3,000 youth ages 13-21 and their parents participate. The Office of Workforce Development/ JOB1 offers financial literacy workshops and immediate opportunities to open savings and checking accounts. Through the Choices program youth financial education is delivered over 6 hours via life skills classes that address the importance of balancing a checkbook, saving and investing. Topics discussed include: Money Management, The Power of Saving, and the Importance of Budgeting. Summer Youth Employment Program During summer 2012, New Orleans expanded its existing financial education activities to incorporate financial incenMayor Landrieu with participants in the citys Summer Youth Employment Program. tives for its SYEP through the generous support of a DollarWise Grant. In addition to the savings and asset-building Initiative. The goal of this initiative is to strategiopportunities, the SYEP began offering financial cally promote homeownership opportunities for incentives to youth who meet savings goals. The low and moderate income families buying their first incentive program allowed the youth to compete for homes. The City provides affordable gap financing savings bonds, cash prizes and matching funds up to in the form of a soft second mortgage. Program $500. As a result, 10 participants were awarded $50 participants are required to complete a 12-hour savings bonds, 2 teams won $500 based on budgets homebuyer education course. The course is offered in they created for their freshman year of college, and partnership with the Louisiana Homebuyer Educa20 youth received a $100 match for consistently tion Collaborative and the curriculum is composed maintaining a minimum balance of $100 in their checking account over a 6 week period. Soft Second Initiative In 2011, the City of New Orleans launched a $52.3 million Soft Second Mortgage Homebuyer Assistance from information created through the Money Wise consumer action financial education project. Its modules include: Tracking Your Money; Banking Basics; ID Theft and Account Fraud; Personal Bankruptcy; Good Credit; Rebuilding Good Credit; Saving to Build Wealth; Keys to Home-ownership; and Successful Home-ownership. In its first year, the Soft Second Initiative has provided financial education to over 340 applicants and has funded over 200 individuals for the purchase of their first home. Partners Partners in this initiative include: Entergy New Orleans United Way of Southeast Louisiana Wal-Mart ASI Federal Credit Union LaFource Community Concerned Citizens IRS Vietnamese Initiatives in Economic Training Mayoral involvement The Mayor has been a champion of the City of New Orleans existing financial education efforts: SYEP, Choices, the Soft Second Initiative and creating new pathways to prosperity for our residents. Mayor Landrieu has led the charge to fund and ensure the success and sustainability of these programs. Catholic Charities Total Community Action Loyola University Our Lady of Holy Cross College Dillard University Delgado Community College Single Stop USA

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Paterson N E W JE RS E Y
Mayor Jeffery Jones
973.321.1600 jjones@patersonnj.gov Establishing a campaign on financial literacy is a priority for Mayor Jeffery Jones. The Mayors Council on Financial Literacy works particularly with youth, young adults, and small business owners within the city on a variety of initiatives pertaining to financial literacy and sound business development. Partners Primary partners include: the Small Business Development Center (SBDC) at William Paterson University, Greater Paterson Chamber of Commerce, Passaic County Community College, United Way of Passaic County, as well as other collaborating banks and financial institutions. Hands-on training The Council provides workshops, classes and individual counseling to participants in the program. For individuals interested in better understanding how to manage their own finances, program training includes: financial planning, time tracking and billing, fixed assets tracking, loan management, and cash flow projection. For potential business owners additional training is provided in the areas of payroll, invoicing and billing, and inventory management. Business financial literacy workshops are also offered at the SBDC, which include income tax assistance from financial planning volunteers (VITA) and oneon-one credit counseling and repair. Quickbooks training is also provided as a tool to help participants manage their money.

Downtown Paterson from Garret Mountain.

PHOTO STACY KAY. USED BY PERMISSION.

Community involvement The City of Patterson strives to address urban, socioeconomic, and educational challenges through work with its community and nonprofit organizations. The Mayors Council on Financial Literacy hosts conferences that address issues to help first time business owners have access to knowledge on how to create business plans, how to forge strong partnerships, and how to take out business loans.

Effective programming and evaluation Throughout the program, financial advisors create roundtable meetings with participants in order to help provide information on program resources and processes. The financial advisors also use this as an opportunity to survey the participants and gauge the extent to which they retain the information provided. Growth and development is also measured and evaluated on an individual basis, demonstrated by the application of the newly acquired skills and information.

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Pinellas Park F L OR I DA
Mayor Sandra Bradbury
Contact: Tammy Hiller 757.524.2427 x2006 thiller@bgcsun.org Pinellas Park has developed an innovative campaign that connects local for-profit and non-profit organizations to effectively deliver free financial education and planning to low income residents and their children. The financial literacy campaign is based on specific principles and guidelines that engage the targeted population: low income residents of Pinellas Park, Florida. First, the program incorporates relevant information and practical examples. In this way, participants are better able to personalize the concepts being taught and apply them to their families needs. Secondly, the program is designed to encourage participants to complete each session. The sessions delivered by Hancock Bank can be adapted to address specific needs of the program such as repairing credit or understanding tax forms. The campaign programs are age-appropriate and contain content that meets the maturity and learning styles of each targeted population. Pinellas Park, the Pinellas Park Boys & Girls Club, United Way, Hancock Bank, Junior Achievement, Bank of America, and the Juvenile Welfare Board, accommodate the cultural and logistical needs of the program. The campaign encompasses the needs of all low-income residents from children to adults; renters to homeowners; job seekers and retirees. This years program, Hire Me Teen - Secrets for Getting the Job, provides work readiness training for high school students. The program includes: information on interviewing skills, resume building, making a good impression, and communicating personal ability. Pinellas Park has reached out to Club members by presenting the Money Smart program. With the guidance of experts in banking and finance, teens learn about different types of financial institutions; building credit; opening a bank account; preparing for student loans and student financial aid; possible grants and scholarships; and understanding interest. Community partnerships Through its Public Library Youth Services Division, Pinellas Park partners with Junior Achievement and Bank of America to provide teens with financial literacy education that equips them for post high school education. Additionally, the City partners with the Pinellas Park Boys & Girls Club to deliver financial literacy programs for youth and their parents/guardians. This partnership includes United Way Suncoast, which delivers the parent component; and Hancock Bank, which delivers the Teach Children to Save, and Money Smart for Young Adults and Adults. The Pinellas Park Boys & Girls Club (PPBGC) is a youth development organization unique to other agencies serving young people. The Club provides licensed after school and summer care to children ages 5 18 years old. Offering services to all age groups allows parents to remain gainfully employed knowing their children are in a safe place. Furthermore, having their children at a Boys & Girls Club is convenient for them. There are no membership fees for children living in low-income households. The partnership between the City and the Club strengthens this campaign by bringing together wellrespected non-profit and for-profit organizations for the purpose of operating financial literacy programs for low-income residents. Involvement from city hall Mayor Bradbury is an avid supporter and advocate for the Citys financial literacy program. Other community leaders such as Councilwoman Patricia Johnson served as the Chair for the Pinellas Park Boys & Girls Club Advisory Council and on the Corporate Board of Directors for Boys & Girls Clubs of the Suncoast. The PBGC received Pinellas County Community Development funds, which went towards the remodeling of the Club. This allowed the Club to also become a shelter for the homeless. During summer 2013, city officials will be invited to kick off events and acknowledge program participants at ceremonies at the PPBGC.

Pinellas Park has developed an innovative campaign that connects local for-profit and nonprofit organizations to effectively deliver free financial education and planning to low income residents and their children.
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MAYORS FOR FINANCIAL LITERACY T H E U N I T E D S T AT E S C O N F E R E N C E O F M A Y O R S 1620 Eye Street NW Washington, D.C. 20006 202.861.6759 dollarwise@usmayors.org bedollarwise.org

Cover image: Los Angeles skyline by Navid Serrano via Wikimedia Commons, CC BY-SA 3.0