Public Employee Press

MEHP workshop teaches
Financial fitness for 2009

Kathy Lasri and Erik Shumar from Amalgamated Bank talk to members and hand out informational pamphlets.
Oliver Gray DC 37 Associate Director	Henry Garrido DC 37 Asst. Assoc. Director	Franklin D. Golding MEHP Program Director

By ALFREDO ALVARADO

With the economy sinking deeper into recession every day, DC 37’s Municipal Employees Housing Program went on the offensive to help members cope with today’s financial turbulence.

On Jan. 10, MEHP presented a workshop at union headquarters that provided about 100 members with valuable information on setting financial goals, creating a budget, the basics of investing and the importance of establishing a good credit history.

The workshop was sponsored by MEHP, which was created five years ago after DC 37 Executive Director Lillian Roberts approached Mayor Michael R. Bloomberg about members’ housing problems. “Lillian Roberts realized that it wasn’t enough to fight for wages and benefits,” explained Associate Director Oliver Gray.

Today MEHP is one of the most comprehensive union housing programs in the nation.

“This program is the first step toward a bigger plan to take control of your finances and your future,” said MEHP Program Manager Franklin D. Golding at the Saturday morning workshop.

“This is the first time I have come to an event like this,” said Local 1549 member Natalie Linton, who works at the Human Resources Administration. “I want to get some information to help me buy an apartment. I’m tired of renting.”

Local 371 member Christina Lebron, is not ready to purchase a home, but she believes the seminar has put her on the right track. “I’m still in the beginning of the process,” said Lebron. “What I want to do now is improve my credit rating.”

Panelist Craig Williams of the Municipal Credit Union emphasized the importance of good credit. “The better your credit score is, the more power you have,” he said. Brian Gurski, director of the Small Business Development Center at LaGuardia Community College, also stressed the issue. “Credit defines our financial opportunities; it opens doors,” he said during his presentation.

Williams reminded the members that, unlike commercial banks who seek only to make a profit, the credit union’s mission is to serve members. Among the services that MCU offers are free financial counseling and debt consolidation.

Other panelists included Kathy Lasri and Erik Shumar of Amalgamated Bank, one of the sponsors of MEHP, and Zach Teutsch, coordinator of investment education for AFSCME, DC 37’s parent union. MELS Consumer Staff Attorney Salli Barash also answered questions from members during the question-and-answer period. The Consumer Law Unit of the union’s Municipal Employees Legal Service helps members clear up inaccurate credit reports and renegotiate loans.

Assistant Associate Director Henry Garrido organized the workshop after he noticed a high level of participation in a session on credit issues at a recent MEHP housing fair. Members received a green piggy bank to help them get started on the road to financial fitness.