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FOR IMMEDIATE RELEASE

Contact: Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851; cell 412-335-9488
Emily Keebler, Neighborhood Housing Services, Inc: 412-281-9986

FINANCIAL LITERACY PROGRAM FOR AT-RISK YOUTH EXPANDS:
'MY MONEY, MY LIFE' BEGINS ADVANCED CLASSES IN ALLEGHENY COUNTY

FIRST NEW CLASS STARTS JULY 13; $150 DEPOSIT FOR STUDENTS AT GRADUATION

PITTSBURGH, PA, July 11, 2006 — The nearly 200 at-risk youth in greater Pittsburgh who participated in the first year of an innovative financial literacy program now have a chance to add even more to their no-fee bank accounts: My Money, My Life is inviting them back for an advanced course and sweetening the kitty.

Launched in November 2004 as part of an initial five-year program designed to educate underserved youth 16 to 19 years of age about budgeting, saving and financial planning for the future, My Money, My Life graduated 188 students in Allegheny County who displayed solid gains in their knowledge of basic money matters and greater confidence in making decisions dealing with money, year-end program totals showed. Now those students are being invited to learn more — and earn more, too.

FHLBank Pittsburgh launched My Money, My Life in November 2004 and selected Neighborhood Housing Services, Inc. (NHS) as program administrator. NHS is conducting an advanced class in July and August to review topics learned during the beginner's class in 2005 and to help graduates explore new topics such as buying a car and starting a business. Participants who complete this advanced course will be rewarded with a $150 deposit into their existing no-fee My Money, My Life savings account, helping their savings grow further.

The new, advanced class of My Money, My Life will consist of six three-hour periods of instruction. Class size will be strictly limited to 20 students, for a total of 60 students per year. Meals will be served during each instruction period. In addition, at each class, students will receive $5 in cash to cover the cost of transportation to and from class.

News media are invited to cover any of the advanced classes starting Thursday, July 13. The initial class will be held from 5-8 p.m. and continue on successive Thursdays through August 17 during the same hours. All classes will be held at NHS offices at 355 Fifth Avenue Downtown.

Class topics

Advanced class topics this summer and beyond include the following:

Class One: Budgeting and goal setting
Class Two: Applying for post-secondary education — career search, credit cards
Class Three: Loan review, car financing, car purchase vs. lease, job readiness
Class Four: Paychecks and deductions, taxes
Class Five: Paying for student loans, buying vs. renting
Class Six: Investing money and saving for retirement, getting a small-business loan

As with the 2005 classes, FHLBank, a wholesale lender for community advancement, and nine community-based financial institutions will help fund the classes and provide instruction. Additional funding comes from Allegheny County, the Heinz Endowments and Mellon Financial Corporation. Participating banks include Dwelling House Savings & Loan Association, ESB Bank, Iron & Glass Bank, Laurel Savings Bank, National City Bank, Northwest Savings Bank, PNC Bank, Sewickley Savings Bank and Sky Bank.

First-year program a huge success

A total of 188 young people graduated from My Money, My Life during 2005, putting the program on track to achieve its five-year goal of reaching at least 1,000 at-risk youth by 2009. All participants in both initial and advanced My Money, My Life classes complete an evaluation to measure their knowledge and degree of financial self-direction.

In addition, graduates of My Money, My Life are able to apply for academic, vocational and skills training at Job Corps, a U.S. Department of Labor job training program. Job Corps offers more than 100 trades and 40 college programs at no cost to the student. It provides disadvantaged young people with the integrated academic, vocational and social skills training they need to gain independence and get quality, long-term jobs or further their education.

With $72.89 billion in assets, FHLBank Pittsburgh uses private capital to provide a steady stream of low-cost funding for affordable housing, economic development and community banking needs to nearly 340 member financial institutions.