COLUMBIA, S.C. and PROSPECT HEIGHTS,
Ill., May 23, 2005 –
The
South Carolina Council on Economic Education and HSBC – North
America today announced the financial services organization
has awarded a grant to SCCEE to fund financial literacy programs
throughout a four-county region in the state.
The $60,000 grant will fund financial education for more than
3,000 students in Charleston, Berkeley, Dorchester and Colleton
counties. Thirty elementary, middle and high-school teachers
will participate in an HSBC-funded day-long workshop, Personal
Finance 101: A Training Program for K-12 Teachers.
In 2004, more than 1,000 teachers participated in SCCEE workshops,
institutes and graduate credit courses.
“Our goal is to develop long-term relationships with teachers
so that financial literacy education eventually becomes as
easily understood and readily taught as reading and math,” said
Helen Meyers, president of the South Carolina Council on Economic
Education.
“On a 2004 Survey of Economic Literacy, South
Carolina’s high school students scored an average of
53 percent. In stark contrast to this score, nearly 80 percent
of the students believe they can manage their own money. We’ve
got a lot of work to do and we are grateful to have support
from HSBC to address this critical issue.”
HSBC operates 18 HFC and Beneficial lending offices throughout
the state.
HSBC also today announced financial education grants totaling
more than $1 million to 11 community organizations in Arizona,
the District of Columbia, Ohio, South Carolina, Texas and Washington.
Individual grants range from $60,000 to $125,000. Target groups
include individuals in low-income areas and those in need of
credit and homeownership counseling.
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HSBC-SCCEE Financial Education Grant/Page 2
“The importance of financial education programs can
not be overstated,” said Loretta Abrams, HSBC – North
America’s vice president of community development and
consumer advocacy. “So much of our lives – from
the interest we pay on our mortgages to our ability to get
a job – depends on our understanding of personal finance
and the way we manage our money.
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We applaud the South Carolina Council
on Economic Education for the great work they’re doing
to help individuals and families throughout the state.”
Through its Financial Education
Grant program, now in its fourth year, HSBC funds financial
literacy programs provided by local organizations to fit the
financial and credit education needs of their constituents.
The program is managed by the HSBC Center for Consumer
Advocacy, which was established in 2003 to direct the
company’s broad range of financial education and
housing programs and community outreach initiatives.
The center also funds grants
to educational institutions and maintains the personal financial education
Web site www.yourcreditcounts.com.
The South
Carolina Council on Economic Education is a nonprofit organization
dedicated to improving the economic and personal
financial literacy of all
South Carolinians. Its mission is to help students develop economic ways
of thinking
and problem-solving that they can use in their lives as consumers, investors,
and effective participants in the global economy.
HSBC - North America comprises
all of HSBC's U. S. and Canadian businesses, including
the former Household businesses. The company’s businesses
serve nearly 60 million customers in five key areas: personal
financial services, consumer finance, commercial banking,
private banking and corporate investment banking and markets. Financial
products and services are offered under the HSBC, HFC and
Beneficial brands.
For more information, visit: www.hsbcusa.com.
Media Contacts
Rahsaan Johnson, HSBC - North America
Phone: (847) 564-7946
E-mail: rahsaan.a.johnson@us.hsbc.com
Lori Dickes, South Carolina Council on Economic Education
Phone: (864) 943-1210
E-Mail: loridickes@yahoo.com
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