City of Birmingham invests $1 million in financial literacy initiative for Birmingham area students

BIRMINGHAM, Ala. (WBRC) – City of Birmingham students, their parents, faculty and staff will soon have the opportunity to transform their financial efficiency thanks to a financial literacy initiative funded in part by the City of Birmingham.

The city is investing $1 million in the BHM Financial Freedom project.

The initiative will provide grade-level and culturally relevant financial education with a savings account, investment platform and school curriculum.

This is a partnership between Birmingham City Schools, IMC financial adviceand theGoalsetter Savings App.

“Now is the time to ensure that our young people are the most financially prepared and successful generation our country has produced,” said Birmingham Mayor Randall Woodfin. “We have both a professional and moral responsibility to ensure the academic and financial success of our students. Their participation in our local, national and global economy is essential to the future of our community and country, and it is our responsibility to cement their financial footing as the cornerstone of their financial well-being.

The BHM Financial Freedom project aims to consolidate the success of the program by targeting parents and teachers as well as students.

“We can only give students the foundation they need for future financial success if educators and staff feel more secure in their own beliefs, knowledge, habits, and financial goals,” said Isaac M. Cooper, CEO of IMC Financial Consulting. “We need to be equally vigilant in providing the adults in their homes with the same level of support.”

The pilot phase will launch in October at six Birmingham schools: Jackson-Olin High School, Carver High School, South Hampton K-8 School, Hudson K-8 School, Sun Valley Elementary School and Robinson Elementary School.

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Geraldine L. Melton