US Mayors Help Expand Financial Education

On Tuesday, February 20, 2012, the U.S. Conference of Mayors’ National DollarWise Campaign presented a $15,000 Innovation Grant to Mayor Tom Barrett to expand a financial education program run by the Housing Authority of the City of Milwaukee (HACM) and the Wisconsin Women’s Business Initiative Corporation (WWBIC).  Javier Arvelo, National DollarWise Manager, presented a ceremonial check to Mayor Barrett at the Hillside Family Resource Center during a resource fair and celebration for Wisconsin Saves Week. 

The competitive grant was awarded to help expand the Make Your Money Talk financial education program to over 5,700 households in HACM’s Section 8 Rent Assistance Program.  Since 2004, Make Your Money Talk has provided intensive financial education to public housing residents.  Six hundred low-income individuals have completed the course, and it has helped them to save hundreds of thousands of dollars and invest it in education, homeownership and business creation.

"At DollarWise, we award ‘Innovation Grants,’ and this project is as innovative as it gets in the way it helps a financially vulnerable group,” said Arvelo.  “We hope to promote Milwaukee’s effort around the country.”  

The event also marked the kick-off of Wisconsin Saves Week, which celebrates efforts to promote financial awareness and encourage financial action among people of all economic levels.  Wisconsin State Treasurer Kurt Schuller was on hand to present a proclamation commemorating the week.