It?s a once-a-year opportunity for area residents to obtain the kind of high-powered financial advice that the high-rollers get all the time ? but have to pay for.
“It?s really become this very exciting event that has given financial institutions a good way to reach out to people,” said Baltimore Cash Campaign?s (baltimorecashcampaign.org) Joanna Smith-Ramani of the coalition?s “Money Power Day,” a personal finance fair in its second year running.
The 6-year-old, financial empowerment nonprofit, which ? along with Baltimore City personnel ? staffs 14 free tax preparation centers in town and promotes use of the earned income tax credit and other wealth-building and financial literacy measures, expects up to a thousand visitors to the February 24 event. In 2006, 400 attended.
Slated for 11 a.m. to 3 p.m. at the Baltimore Polytechnic Institute, the fair is co-sponsored by Baltimore?s SECU Credit Union, M&T Bank, and a host of other participating financial services and related organizations. It is open to anyone who can reach the institute?s Cold Spring Lane campus.
“This is a way for them to get out there and meet the customers that they?re interested in reaching,” Smith-Ramani said about her co-sponsors. “To have conversations with them, to offer really quality workshops and other services, and have a meaningful interaction with working families in the Baltimore area.”
The fair, Smith-Ramani said, willbring together free tax preparation services; 20 personal finance workshops; a “credit cafe,” featuring sponsoring organization credit counselors offering financial planning and credit advice; and an exhibit of 40 financial services providers, showcasing their products and services.
“We?re involved because financial literacy is one of SECU?s main initiatives,” SECU Credit Union Financial Educator Danielle Thron said. “One of our goals is to help the community become more financially literate, and we have a strong focus on teens especially.”
The affair will also serve as a kick-off for “America Saves Week,” a state initiative to promote savings, debt reduction, and wealth-building.
“Higher income folks have financial planners,” said Smith-Ramani. “This is really also about giving access to people who have some money and who, more than anyone, need to figure out how to use that money as smartly as possible.”
