Press Releases

Prepare to Be Empowered as Councilor Sheila Tyson and Council President Pro Tem Steven Hoyt joins U.S. Congresswoman Terri Sewell at the Financial Literacy Panel and Expo

Research shows that financial decision-making can be influenced positively by presenting high-quality, non-complex information; providing incentives for good decisions, and facilitating the best use of available information in real-life situations. With economic development bustling all over the nation, Birmingham City Councilors are adamant about educating the public on gaining valuable knowledge needed in order to prosper financially. Creative measures for gaining wealth along with valuable techniques for climbing out of debt require focused efforts for those seeking to transform their lives. Tonight Council President Pro-Tem Steven Hoyt and Councilor Sheila Tyson are taking steps to educate citizens in those efforts as they co-host financial workshops with U.S. Congresswoman Terri Sewell at the Financial Literacy Panel and Expo on ‘How to Avoid Predatory Lending Practices and Gain Access to Critical Capital’ at the Birmingham Crossplex beginning at 5 p.m.

Representatives from Regions, BBVA, Citizens Trust, Renasant Bank, Equifax and many others will be on hand to dialogue with citizens on measures they can implement in order to break out of financial or credit slumps and propel to newer levels of financial security. “I am so excited about the opportunity to partner with my colleagues to provide education on a subject that is vital to the well-being of so many of our citizens,” Council President Pro-Tem Steven Hoyt said. “It is my hope that if we can assist individuals through financial education and provide them access to desperately needed savings, then they will be propelled to future success.”

Councilor Sheila Tyson echoed Council Pro Tem Hoyt’s sentiments and said it is her goal to always empower citizens on being financially stable as well as help them recognize avenues of change no matter what obstacles they have experienced. “The reality is people want to budget, they just don’t know how,” Councilor Tyson said. “Through this event many will have the opportunity to not only learn how to budget and save for the future, but also gain knowledge about free services that are available to help increase their understanding on how wealth works through financial literacy.”

Congresswoman Terri Sewell said the goal of the financial literacy event is to discuss critical topics impacting individuals in communities, including predatory lending practices, access to capital, and establishing and maintaining good credit. She also hopes discussions will provide invaluable information that will allow consumers to make more thoughtful and informed decisions about their finances, bring together community partners that will share valuable resources about consumer protection and promote tips on responsible money management.

This article is a contribution from Chiara Perry (chiara.perry@birminghamal.gov) in the Birmingham City Council Public Information Office. For more information please contact 205.254.2294