Brooklyn Neighborhood Services’ Youth Financial Literacy Education Workshop

Brooklyn, NY – [August 7th, 2024] – Brooklyn Neighborhood Services (BNS) in partnership with Williamsburg Charter High School, is proud to announce the completion of the second, six-week summer financial literacy program on Tuesday, August 13th. The program curriculum is tailored specifically for youth between the ages of 11 and 17, providing the next generation with essential financial knowledge and skills so they can make more sound financial decisions as adults.

Through our work over the years with low—to moderate-income residents, we found that a significant number of households lack basic financial literacy skills, which contributes to many of their bad financial decisions. In too many cases, this has led to household overburden, displacement, homelessness, and foreclosure.

Thirteen students from Williamsburg Charter High School participated in the workshop, which covered crucial topics, including the nature of money, budgeting, and savings, understanding credit cards and debt, tracking expenses, the broader financial world, investing, and planning for the future. The class culminated in a field trip to the Federal Reserve Bank – which included a visit to the Gold Vault – and a ceremony where participants who completed the course were presented with checks in the amount of $500.00 each toward the opening of their first savings account at a banking institution of their choice.

This was made possible through funding from JP Morgan Chase, on hand for the ceremony was Ms. Deborah L Johnson, Community Reinvestment & Community Partnership Manager at JP Morgan Chase. Ms. Charisse Johnson, Youth Development Manager/Administrative Assistant from Williamsburg Charter High School was also in attendance.

Mr. Hector Ramos, HUD-Certified Housing and Financial Literacy Counselor, who facilitated the six workshops, presented the graduates with their Certificates of Completion. Ms. Milagros Montes from the DIME Bank, who was not in attendance at the ceremony, co-facilitated one of the workshops addressing how to avoid scams, open bank accounts, and the significance of earning and managing a paycheck. Ms. Johnson also co-facilitated one of the workshops and was pleased to see that all the participants that she remembered completed the course, especially during their summer break.

Executive Director Mr. Richard M. Trouth welcomed the students and congratulated them on committing themselves to this initiative toward their future and invited them back at any time; he also asked that they tell their friends and families about the program and encourage them to enroll.

“We believe financial literacy is a key component of personal success and community health,” said Mr. Ramos. “These students were enthusiastic, motivated, and have shown an outstanding level of engagement and participation in their financial futures.” Brooklyn Neighborhood Services is committed to continuing its efforts to provide valuable financial education to the community, ensuring they are well-prepared to make informed financial decisions.