Savings & Credit Building Learning Circles
This program is geared towards newcomer immigrants who are learning how to navigate the U.S. financial institutions. Circles meet once a week for 2.5 hours, for 8 consecutive weeks. During this time, participants receive training on banking in the U.S. and have the opportunity to meet individually, at no cost, with a Financial Coach. The coach supports the participant with building a personal budget through a matched savings program sponsored by Liberty Bank. Each participant that is able to build and maintain a savings account of $250 over the course of 3- 5 months receives a $250 bonus match from Liberty Bank.
During the training sessions participants learn about:
- The benefits of opening and maintaining a bank account
- Ways to save money
- How to identify and avoid “false” business practices that may result in financial loss
- The value of a budget and how to use it to help save money and build wealth
- Why having good credit matters and steps to establishing good credit
The learning circles will also discuss topics like how to open a small business, take advantage of community resources to save money and improve ones quality of life, and other topics the participants request.
Ongoing Financial Coaching: During these individual coaching sessions each participant will review their budget and have the opportunity to discuss in detail, how to save for a business, a child’s college savings or retirement and more.
- A United States resident for a minimum of 3 months
- Have had difficulty maintaining a minimum bank balance requirement OR do not have a bank account
- Able to save a minimum of $2 a day.
- Age 18 or older
- Commit to 2.5 hours of meeting time a week for 8 consecutive weeks.
Received upon successful program completion:
- Hartford Public Library’s Financial Literacy Course Certificate of Completion
- $250 bonus awarded from Liberty Bank
- Northstar basic computer certification