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The Ridgewood Financial savings Financial institution has been devoted to instructing monetary literacy everywhere in the metropolis because the Eighties and not too long ago paired with the non-profit, Classes for my Daughters, to assist younger ladies be taught concerning the significance of accountable private funds.
College students from the Younger Ladies’s Management College of Astoria have been in a position to be taught the fundamentals of opening a checking account, writing a test, id theft and investing in themselves.
Nicole McFadden, a Tenth-grader on the Younger Ladies’s Management College mentioned this system was actually rewarding for her.
“Principally I realized about having confidence in myself,” mentioned McFadden. “Me personally, I wish to spend cash. So studying tips on how to funds my cash and what the easiest way to save cash is, [was] one thing that I valued so much from participating on this program.”
The category was held over Zoom in April with about 15 college students in attendance. Attributable to COVID-19, the financial institution hasn’t been in a position to attain as many individuals. In 2019, Ridgewood Financial savings Financial institution taught over 15,000 college students.
Lou Ann Mannino, the vp of Ridgewood Financial savings Financial institution, mentioned they’ve at all times taken monetary schooling very significantly.
“We’ve at all times felt that monetary literacy was vital for us to get out and speak about it,” mentioned Mannino. “We do it as a result of we’re a group financial institution and we actually consider that good saving habits that begin earlier in life make for a greater future.”
In keeping with a examine carried out by Walden University, 4 out of seven Individuals are financially illiterate and unable to handle their funds.
“We wish them desirous about financial savings, we would like them to know that that’s within the forefront of the place their future lies,” mentioned Mannino. “They really want to begin desirous about it and making these good [decisions] now.”
The Ridgewood Financial savings Financial institution tailors their classes to the age group they’re visiting. The financial institution additionally holds many different monetary literacy applications akin to Train Youngsters to Save, Save for Seniors, Get Sensible About Credit score and Lights, Digital camera, Save.
The partnership between the financial institution and Classes for my Daughters has been happening for the previous three years with no plans to cease anytime quickly.
Carmin Caterina, the founding father of Classes for my Daughters, mentioned that their partnership is mutually helpful since they’ve related commitments to instructing younger ladies they’ve management of their future, monetary or in any other case.
“Something that we’re attempting to realize we’re normally the largest issues standing in our personal approach,” mentioned Caterina. “So actually instructing them that there aren’t any limits, we see limits due to our surroundings however we are able to transcend all of that.”
To be taught extra about Ridgewood Financial savings Financial institution’s initiatives, they are often contacted by their website. Or go to the Classes for my Daughters website for extra info on the non-profit.