BECU Will Provide Seattle Jobs Initiative’s Financial Literacy Training for 2005

Seattle, WA – April 18, 2005 – Seattle Jobs Initiative (SJI), a nonprofit organization that helps low-income job seekers secure living wage jobs, has received an in-kind donation of financial literacy education from BECU, the largest credit union in Washington State. Throughout 2005, BECU will donate the time and expertise of its instructors to organize and lead all of Seattle Jobs Initiative’s financial literacy classes. Through this in-kind donation, BECU will save Seattle Jobs Initiative over $18,000 in operational costs.

As part of Seattle Jobs Initiative’s comprehensive employment and job training program, students go through financial literacy classes where they learn about budgeting, tax preparation, predatory practices, Individual Development Accounts (IDAs) and investing. Starting this year, students in Seattle Jobs Initiative’s office and manufacturing programs will receive comprehensive financial literacy training from BECU Financial Educators, instead of from the organization’s paid consultants. Each class will receive a total of 8 hours of training from BECU Educators.

“One of the barriers low-income workers face is a lack of knowledge about money management, and it’s critical that as they begin to earn more, they also learn how to keep more of what they earn,” said Rhonda Simmons, Executive Director of Seattle Jobs Initiative. “That's why this partnership with BECU is so exciting—they bring a lot of knowledge and expertise to our clients.”

“The financial literacy classes were very helpful for me,” said Robert Calixtero, a recent graduate of SJI’s office occupations class who is now working for Safeco. “When you’re about to get a job that pays better, it makes sense to also learn how to manage that money.”

“As a credit union we are dedicated to the philosophy of people helping people,” said Debbie Wege, BECU Manager of Community Relations & Education. “We are excited at the opportunity to make a real difference in helping the SJI job seekers reach their financial goals.”

About Seattle Jobs Initiative

Seattle Jobs Initiative (SJI) is a non-profit organization that helps low-income residents secure and advance in living wage careers by creatively aligning support services - including food, shelter, childcare, transportation and medical care - with short term job training. By partnering with local businesses that are seeking qualified employees, Seattle Jobs Initiative links students to internships and jobs. Seattle Jobs Initiative’s policy team compliments their program work by researching and advocating for legislative changes that improve access to training and services for low-income residents.

About BECU

With more than 400,000 members and more than $5.0 billion in assets, BECU is the largest credit union in Washington and one of the top ten financial cooperatives in the country. All Washington state residents are eligible to join. For over ten years BECU has provided free financial education seminars to their members, the surrounding community, and schools in the Puget Sound region. In just the last five years BECU has conducted over 1,600 seminars, reaching over 28,000 adults and youth. For more information about financial education seminars available through BECU, please contact BECU Community Relations & Education at (206) 439-5910 or visit www.becu.org/financialeducation.

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