Free Classes on Financial Literacy in Chicago

The Coalition of African, Arab, Asian, European & Latino Immigrants of Illinois, or CAAAELII is offering FREE financial literacy classes to immigrants i Chicago and will help them find free or low-cost checking accounts. The non-profit will use the money to create the curriculum in conjunction with other community groups in Chinatown, Albany Park, West Rogers Park, Pilsen, Little Village and Uptown. Besides receiving eight free financial literacy classes, the 300 to 500 immigrants — after they finish the course — will also get access to free or lower-cost checking accounts at four Chicago-area banks. Some immigrants have little or no relationship with commercial banks and instead rely on more costly check-cashing services. The four banks: Puerto Rico-based Popular Community Bank, which has 12 area branches and which is offering a $125 incentive to sign up for free checking: Foster Bank and Skokie-based First Bank, which are both offering $50 incentives to open an account, and Devon Bank, which is offering free checking for life, program organizers say.

 

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