Financial Literacy Key to Securing Futures of Immigrant Families: Literacy Assistance Center, UBS and Queens Library at Flushing Partner for Financial Literacy

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New York's respected not-for-profit Literacy Assistance Center (LAC) and UBS Financial Services, Inc launched a financial literacy initiative with a Financial Literacy Fair for Families and Children at the Queens Library at Flushing, N.Y. on Saturday, August 4, 2007. Flushing is regarded as the most culturally diverse neighborhood in the country including a community of immigrants who speak 168 different languages/dialects!

New York's respected not-for-profit Literacy Assistance Center (LAC) and UBS Financial Services, Inc launched a financial literacy initiative with a Financial Literacy Fair for Families and Children at the Queens Library at Flushing, N.Y. on Saturday, August 4, 2007. Flushing is regarded as the most culturally diverse neighborhood in the country including a community of immigrants who speak 168 different languages/dialects!

"50 percent of adults in the United States read at or below the eighth-grade level. This stunning statistic reflects a critical need for equal access to education and social services in order to level the economic playing field for all Americans," said Elyse Barbell Rudolph, executive director of the Literacy Assistance Center.

"Whether it's learning how to establish credit, how to save for the purchase of your first home, or how to avoid predatory lending practices and scams, all Americans should know where to go to find help with their finances and learn basic money management skills. Immigrants are especially at a disadvantage because they may not "know the ropes" of the American banking system" said Racquel Oden, managing director at UBS Financial Services, Inc. and head of the company's Mosaic Committee, an affinity group of Blacks and Hispanics dedicated to diversity and social issues. Ms. Oden's parents arrived as immigrants from Jamaica when she was a child and her family's experiences motivated her to make financial literacy a priority for others.

The financial literacy partnership attracted 275 participants, including adults and children to its financial literacy fair, which offered classes in an array of topics, including:
•How is your financial health?
•First time home buying
•Identity theft
•Managing your credit
•Setting goals for financial success
•Paying for college

A workshop for children 9-14 focused on allowance and financial education and age-appropriate puppet shows entertained the younger children. Literacy and social service providers provided information on a variety of topics.

Queens Library serves thousands of adult new readers and new English language learners with free small group, self-study or formal classroom instruction.

For additional information, please go to: http://www.lacnyc.org or 212-803-3300
and http://www.queenslibrary.org or 718-480-4233.

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RACHELLE PACHTMAN
UBS
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