By Javier Arvelo
February 13, 2012

The United States Conference of Mayors financial literacy campaign, DollarWise, made a visit to Hartford on January 12 to make the official presentation of the Innovation Grant 2011 award to Mayor Pedro Segarra and the citizens of his city.

The check presentation took place at Burr Elementary School in the heart of the city. Local board of education representatives, United Way of Central and Northeastern Connecticut President and CEO Susan B. Dunn, United Way Women’s Leadership Council representative Melanie J. Cecarelli, and the principal, staff, and students of Burr Elementary joined Segarra at the check presentation ceremony. Also present was Bank of America Senior Vice President Dean G. Andrews who was on hand to join DollarWise in congratulating Segarra and his city for their achievement in innovative financial literacy education. The Bank of America Charitable Foundation is the founding sponsor of the DollarWise Campaign.

After receiving the ceremonial check from DollarWise and Bank of America, Segarra took to the podium to address not only those in attendance at the press conference, but also a television audience in the city through the local Univision affiliate. In his remarks, Segarra addressed the importance of the DollarWise funds at this crucial moment for his city. As with many cities, Hartford is going through tough financial times. “Funds that can help the city advance important programs targeting its residents’ financial education are not only welcomed but greatly appreciated,” the mayor said.

Hartford received a DollarWise Innovation grant for $20,000. The city will use the funds to target the Burr Elementary School community and to create a network of families that regularly meets for financial education workshops. Segarra’s goal is to create a community of families that act as a support system and source of positive feedback. Weekly meetings will alternate between group seminars that discuss income, assets, debt, and credit, and one-on-one financial assessment sessions.

The DollarWise Innovation Grant encourages mayors and cities around the U.S. to start or expand programs that provide financial literacy education for their citizens in innovative, replicable ways. So far, mayors and cities have taken advantage of these funds to promote a variety of programs throughout their communities. Established in 2004 under The United States Conference of Mayors Council for Metro Economies and the New American City, with the generous help of The Bank of America Charitable Foundation, DollarWise has awarded hundreds of thousands of dollars to many cities through its Innovation Grants.

DollarWise encourages mayors and city staff to address the growing need for financial literacy in our nation’s cities. To assist cities in their efforts, the DollarWise campaign works to build partnerships with national organizations, including federal agencies, nonprofit groups, and corporations that offer technical support, curricula, and financial support. While DollarWise is an ongoing, year-round effort, events such as DollarWise Month help communities, and the media focus their attention on financial literacy.