Capital One Bi-Weekly Seminar for SOME Seniors

Our SOME seniors are going into 2021 with a huge advantage in financial literacy. The Senior Services program has been lucky enough to do a virtual bi-weekly informational session with financial access educator at Capital One, Sean Chrysostom from October 22nd – December 17th.

IMG_8780.JPG

Sean Chrysostom (Financial Access Educator at Capital One)

Chrysostom mentioned, “seniors are unfortunately some of the most financially vulnerable groups in the country.”

Not only are they financially vulnerable but many are also living on fixed incomes so it is critical that they learn how to manage their limited resources. He continued, “As technology advances, many seniors run the risk of being left behind with regard to new and more efficient ways of banking.”

The current series they are going through is Borrowing Basics, which teaches the basics of applying for and getting approved for loans. Discussions also include the different parts of a loan payment, which include principal and interest. Future sessions will discuss credit, budgeting and savings, and how different types of financial institutions work.

dawit3.png

Dawit Tesfamichael (Program Support Specialist)

Dawit is a key cog in making the program go, and the continuation of it.

“When discussing financial literacy, it sadness me to mention that this is not a course offered in schools and most of us come to learn to manage our finances though experience.”

“Offering financial literacy courses to our SOME seniors will help them improve their quality of life and be able to make independent financial decisions.”

Chrysostom has worked with SOME since last year, and the relationship with Capital One predates his involvement. He recently started working with the seniors, but has been running cohorts at the SOME housing center prior to COVID-19 and currently teaching a financial cohort for the Center for Employment Training (CET) participants.

Read about when he worked with the CET program here https://some.org/news-events/newsblog/building-foundation-bright-futures

Learn more about the Senior Services program at some.org