Seattle Organization Awarded $94,863 from National Financial Foundation

Funding to Create Financial Education Materials for Building Trade Apprentices

Date: June 1, 2005

Contact: Paul Golden 303-224-3514, [email protected]

ENGLEWOOD, COLORADO—Port Jobs, a nonprofit organization located in Seattle, has been awarded $94,863 through the National Endowment for Financial Education® (NEFE®) Grants Program to complete a project titled “Apprenticeship Financial Mentoring.”

Port Jobs works to improve access to living-wage jobs for Seattle residents. Port Jobs will use the grant money to develop a financial literacy program tailored to the unique needs and concerns of individuals working as apprentices in the construction trade.

According to William L. Anthes, Ph.D., president and CEO of NEFE, “People working as construction trade apprentices often are faced with periods of unemployment. For example, during the winter, work can be scarce,” Anthes says. “At the same time, when they are employed, their construction jobs usually offer higher wages than most apprentices have ever earned. Lacking financial education, some of these individuals will acquire large amounts of debt during periods of employment, and then, when they are unemployed, struggle to make payments. This can wreak havoc on their finances and impede their ability to save and plan for the future.”

To address these issues, the 18-month grant project will combine classroom-based training in basic financial topics and one-on-one financial mentoring with the use of educational materials. When completed, the materials will include a financial education curriculum, a Financial Literacy Survival Guide for apprentices and a replication package so the program can be incorporated into existing apprenticeship programs throughout the United States within the construction industry. Materials will be available through the Port Jobs Web site, at www.portjobs.org.

Susan Crane, Executive Director at Port Jobs, says the NEFE grant money will be invaluable in helping to create effective financial education materials. “Over the years, Port Jobs has helped more than 1,000 people get into apprenticeships and trade-related jobs. We’ve seen apprentices struggle, and even drop out when they’ve hit financial bumps. The NEFE grant will help us and our apprenticeship program partners develop practical tools to help apprentices succeed.”

The NEFE Grants Program seeks to fund projects that will help NEFE further its mission of helping all Americans acquire the information and skills necessary to take control of their personal finances. NEFE considers projects that have the potential for broad outreach, meet a financial literacy need that currently is not being addressed and serve a specific segment of the nation’s population. For more information about the NEFE Grants Program, go to www.nefe.org.

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Contacts

  • Paul Golden

    Media Relations Director

    Direct: 303-224-3514
    Cell: 303-918-3620
    [email protected]

  • Patricia (Pat) Seaman

    Senior Director of Marketing and Communications

    Direct: 303-224-3538
    [email protected]