Financial Literacy Still A Wescom Focus
PASADENA, Calif. -- While Wescom has been trailblazing with its effort to help Pacoima Development Federal Credit Union and its check casher acquisition, the CU has not neglected more traditional efforts to help underserved communities through financial education.
Wescom reported that in 2007 it delivered 173 financial literacy workshops over the course of 134 days, with multiple classes delivered the same day to children and adults. The classes focused on the fundamentals of sound money management and the CU has offered the classes in schools, libraries, Boys and Girls Clubs, group homes, and community centers.
The training workshops and classes include a four-session series for children 5-10 years of age that teaches basic words concepts to help them understand there is more to money than just spending. A similar series for older children seeks to teach the link between financial responsibility and independence, and a series for teenaged children teaches essential money skills like evaluating and understanding the terms of credit cards and other loans.
One particularly successful series from 2007 was held at Pasadena's Blair High School. Wescom reported that 200 students participated in the program, learning from Wescom staff about credit, savings, and investing. In addition, the staff presented information about their careers at the credit union to help students get more of a handle on potential careers in the financial services industry, Wescom said.