FLLIP Celebrates Successes and Calls for Action

Over 100 banks, community groups, government agencies, and others celebrated the successes of the Financial Links for Low-Income People (FLLIP) coalition at the 2005 Catalyst Awards Luncheon hosted by the Federal Reserve Bank of Chicago on September 28.

Over 100 banks, community groups, government agencies, and others celebrated the successes of the Financial Links for Low-Income People (FLLIP) coalition at the 2005 Catalyst Awards Luncheon hosted by the Federal Reserve Bank of Chicago on September 28. FLLIP’s free, community-based financial education program has graduated thousands of low-income adults and trained over 500 instructors since 2001.

Marva Arnold, director of the Division of Human Capital Development at the Illinois Department of Human Services, and the Sargent Shriver National Center on Poverty Law’s Dory Rand urged FLLIP members to let policymakers know about the successes and benefits of the FLLIP program and to support rules to eliminate barriers that keep recipients of public benefits from building savings and assets. The Shriver Center coordinates the FLLIP coalition.

In her keynote address, Michele Latz, director of the Illinois Department of Financial and Professional Regulation’s Division of Financial Institutions, highlighted the Blagojevich administration’s policies that help Illinois residents build and protect assets. The Payday Loan Reform Act and Lending Practices-Tech are two of such policies. Latz emphasized the importance of financial education to help people avoid money traps.

FLLIP presented the William J. and Irene Beck Award to Barbara and Sheldon Stein for their years of active support and vision. Catalyst Award recipients were Arnold; Michael Burnside of Allstate Bank; Lesley Slavitt of Chase; Oboi Reed of Citibank; Casandra Slade of National City; and two outstanding FLLIP financial education sites—Madison County Employment and Training Department and YWCA Lake County.

The 2005 Catalyst Awards Luncheon was supported by the William J. and Irene Beck Foundation, LaSalle Bank, National City Bank, Charter One Bank, Chase, Cole Taylor Bank, State Farm Bank, Fifth Third Bank, Lisle Savings Bank, MB Financial Bank, US Bank, and Grace Newton.

Rand expressed the Shriver Center’s thanks for the continuing support of FLLIP’s major funders—the Grand Victoria Foundation and the Illinois Department of Human Services. She also gave special thanks to the Federal Reserve Bank of Chicago, everyone who attended, and all who support FLLIP.

For more information on the luncheon or FLLIP, contact Rick Rand at 312.263.3830 ext. 273.