Financial Programs for Parents
BEAM is developing a series of financial seminars for BEAM parents and guardians.
BEAMs School Store and Bank
BEAM runs a school store in which students can buy school supplies and other small decorative items. The store is managed by three staff members and a rotating group of students who help the customers with their purchases.
BEAM has a partnership with PNC bank which allows students and families to open bank accounts with PNC. BEAM acts as a depository only so there are no withdrawals that can be processed through BEAM but can be made at any PNC branch. Applications for accounts are available at BEAM and require a low initial deposit amount of just $5. Once an account is open, students can deposit any amount they wish. Students are encouraged to save regularly and keep their money in their accounts for a long time. Participation in the school bank program has tripled in one year and students make deposits daily. PNC will give prizes to students who demonstrate strong savings habits. Stop in and visit our bank located at the school store on the first floor.
PNC will also be conducting financial workshops for parents and students throughout the year. Check back on this site for those dates.
The Parent Planning Committee includes Glenda McMiller, BEAM Student Support Manager; Kristian Jarnigan, Parent Coordinator and Constance Alberts from Allied Churches Teaching Self-Empowerment (ACTS), a private, not-for-profit organization which provides financial programs for low and moderate income adults and stresses home ownership.
The goal of these workshops is to provide BEAM parents and guardians with financial information to help them make financial progress. Workshops are being planned on the following topics:
- The basics of budgeting
- What is a credit report and credit score? Ways to improve both
- Why avoid pay-day loans, check cashing outlets and rent-to-own stores?
- Connecting to mainstream financial institutions for checking and saving
- The rules for building wealth for the long term
- Buying a first home