The Financial Literacy Program was created to address the financial challenges faced by many newcomers from the Former
Soviet Union (FSU) who have come from a centrally planned economy, and are now in a free-enterprise capitalist economy.
The Financial Literacy Program is a gateway to economic self-sufficiency for its participants. It provides an opportunity for
people from the Former Soviet Union to discover, and learn how to use and trust, the banking system and FDIC, to
navigate in the financial environment, develop money managing skills, and reach independence in finding financial solutions
for their families’ immediate and long-term needs. As families become more financially stable, the entire community
benefits in its financial independence.
The program's courses are comprised of several short modules (2-4 weeks on different subjects), which can be presented
in the community based on participants’ needs, interests, and prior knowledge. Average class size is between 10-15
people. In addition to class instruction, small group and/or individual visits to financial institutions with the Coordinator are
scheduled to assist participant's in opening bank accounts or expanding their financial resources. SCC's goal is to begin a
new course each month, if demand is sufficient.
This is a new initiative in the metro area. To date, most financial literacy programs have been conducted for the Asian,
African, and Latino immigrant communities. We believe that many of our community members will need additional
information about the free market system, and so we decided to develop additional “bridge” programs to address our
community needs.
The goal of this program is to educate members of the Russian speaking community who have limited proficiency in the
English language, most of whom are aged thirty-five or older, in the workings and correct use of the American banking,
credit, and related systems, as well as to assist them in developing banking relationships for further financial growth.
Surveys of all participants are being conducted three and six months after the completion of the program in order to solicit
information about what our participants found most useful in the training, and if there are any differences in their financial
situation.
Soviet Union (FSU) who have come from a centrally planned economy, and are now in a free-enterprise capitalist economy.
The Financial Literacy Program is a gateway to economic self-sufficiency for its participants. It provides an opportunity for
people from the Former Soviet Union to discover, and learn how to use and trust, the banking system and FDIC, to
navigate in the financial environment, develop money managing skills, and reach independence in finding financial solutions
for their families’ immediate and long-term needs. As families become more financially stable, the entire community
benefits in its financial independence.
The program's courses are comprised of several short modules (2-4 weeks on different subjects), which can be presented
in the community based on participants’ needs, interests, and prior knowledge. Average class size is between 10-15
people. In addition to class instruction, small group and/or individual visits to financial institutions with the Coordinator are
scheduled to assist participant's in opening bank accounts or expanding their financial resources. SCC's goal is to begin a
new course each month, if demand is sufficient.
This is a new initiative in the metro area. To date, most financial literacy programs have been conducted for the Asian,
African, and Latino immigrant communities. We believe that many of our community members will need additional
information about the free market system, and so we decided to develop additional “bridge” programs to address our
community needs.
The goal of this program is to educate members of the Russian speaking community who have limited proficiency in the
English language, most of whom are aged thirty-five or older, in the workings and correct use of the American banking,
credit, and related systems, as well as to assist them in developing banking relationships for further financial growth.
Surveys of all participants are being conducted three and six months after the completion of the program in order to solicit
information about what our participants found most useful in the training, and if there are any differences in their financial
situation.
Financial Literacy
Slavic Community Center
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