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ATTENTION: EDITORS / ASSIGNMENT EDITORS

Contact:

Neil Cotiaux, FHLBank of Pittsburgh: 412-288-2851; cell: 412-335-9488
Emily Keebler, Neighborhood Housing Services, Inc: 412-281-9986
Khadra Mohammed, Pittsburgh Refugee Center, 412-537-8398

SOMALI REFUGEES LEARN FINANCIAL SKILLS IN AMERICA:
'MY MONEY, MY LIFE' GRADUATION SET FOR SOMALI TEENS MARCH 21

PERSECUTED MUSLIM MINORITY GAINS ANOTHER LIFE TOOL IN THEIR NEW HOMELAND

PITTSBURGH, PA, March 16, 2006 — Three years ago, the victims of a brutal civil war on the east coast of Africa began arriving in America — Somali Bantus flown from the land of "Black Hawk Down" as part of a massive humanitarian effort by the U.S. government. Some 12,000 Bantus, a persecuted Muslim minority barred from school and largely illiterate in their native land, were resettled by the U.S. government to 52 cities, each refugee aching for a new way of life. More than half of the immigrants were under the age of 17.

This Tuesday, a group of Somali teens in Pittsburgh will celebrate another milestone on their path to personal independence. Six of them will graduate alongside 13 other students from My Money, My Life, a financial literacy program provided at no charge to at-risk youth.

Graduation is especially meaningful for the Somalis, who had no exposure to banking in Africa, and who continue to struggle with limited English. With parents who cannot read or write, it is many times up to resettled Somali teens to guide their families through financial, employment and housing opportunities. The new graduates are part of a larger community of 37 families totaling nearly 300 refugees living in Greater Pittsburgh's East Liberty, Lawrenceville and Troy Hill neighborhoods.

Graduation will take place next Tuesday, March 21, at Children's Hospital Family Care Connection, 5235 Butler Street in Lawrenceville from 5–8 p.m. Graduation ceremonies will be held at approximately 6:30 p.m. and will include cake, beverages and the opening of fee-free savings accounts for the graduates from Laurel Savings Bank bearing a complimentary $100 deposit.

"As case managers and advocates for these struggling refugees, our staff was pleased to learn of the existence of the My Money, My Life program," added Khadra Mohammed, founder and director of the Pittsburgh Refugee Center. "We thank Laurel Savings Bank, the Federal Home Loan Bank of Pittsburgh and Neighborhood Housing Services for bringing this critical curriculum to our community. We hope to enroll additional refugees in future classes."

1,000 graduates expected

The FHLBank, a private cooperative of regional financial institutions, created My Money, My Life in fall 2004. The goal of the free, 15-hour after-school course is to educate at least 1,000 at-risk young adults by the end of 2009 on how to set financial goals, budget, save, and avoid credit card debt and predatory lending. At graduation, any participant with an attendance record of 80 percent or better is eligible for a fee-free savings account and initial $100 deposit.

In addition, graduates are able to apply for free academic, vocational and skills training at Job Corps, a U.S. Department of Labor job training program. Job Corps offers 100 trade and 40 college programs at no cost to the student — important to all My Money, My Life graduates but of special significance to the Somalis, who continue to struggle with a variety of acculturation issues including employment.

"While sound financial skills are critical to success in life, young adults at risk need access to employment opportunities to earn the money that we teach them to manage wisely," said Eric Dickerson, deputy director of Community Investment at the FHLBank. "Partnering with Job Corps is an excellent way for our students to receive this opportunity."

Also on hand Tuesday evening will be a representative from Eastside YOUTHLINK, a job readiness and employment center.

My Money, My Life conducts classes across Allegheny County. Participating banks are: Dwelling House Savings and Loan Association, ESB Bank, Iron & Glass Bank, Laurel Savings Bank, National City Bank, Northwest Savings Bank, PNC Bank, Sewickley Savings Bank and Sky Bank. Additional financial support comes from Allegheny County and the Heinz Endowments.

Directions to graduation from Downtown Pittsburgh: From Liberty Avenue, turn left onto 32nd Street. Turn right onto Penn Avenue. Bear left onto Butler Street. End at Children's Hospital Family Care Connection, 5235 Butler Street.