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Guay Proclaims National Dollar Wi$e Week
In Lewiston
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PRESS RELEASE: September 22, 2006 This morning, Lewiston's Mayor Lionel C. Guay, Jr., joined mayors across the country by proclaiming September 25- 30, 2006, as "Dollar Wi$e Week. As part of the United States Conference of Mayors Dollar Wi$e Campaign, mayors are highlighting the fact that financial illiteracy is a national problem that needs to be addressed. The Campaign has been established to educate individuals about personal and household financial literacy. Guay's local involvement is in partnership with the Lewiston-Auburn Tax Credit Awareness Coalition's annual Earned Income Tax Credit (EITC) initiative, where trained volunteers provide FREE tax preparation at community sites, with a focus on low & middle income residents who may be eligible for the Federal EITC. Coalition Co-Chair Dottie Perham-Whittier notes, "Financial literacy has always been a vital aspect of the EITC campaign; however, this year, we've enhanced our focus with the creation of an Asset-Building Sub-Committee headed up by Jill Lorom of Coastal Enterprises." Locally, Dollar Wi$e awareness will kick off on Monday, September 25th, with an informational meeting for non-profits and businesses to learn more about the EITC and financial education. The meeting will occur in the Lewiston Council Chambers at 10:30 a.m. Guay stated, "It is our hope that information and opportunities that come to light during this outreach will go a long way in assisting consumers in making informed choices about their finances. Improved financial literacy will no doubt result in a higher standard of living and more stable communities - clearly a win-win for all." In 2004, 1.5 million families and individuals filed for bankruptcy. Between 1980 and 2002, the level of personal bankruptcy filings in the nation increased over 535%. During that time, various states experienced increased bankruptcies that were two - three times the national increase. Credit card debt tripled between 1990 and 2000, growing from $240 billion to $690 billion and is currently approaching $1 trillion. Guay added, "Those statistics speak volumes about the need for enhanced financial knowledge."
For further information contact: Mayor
Lionel C. Guay, Jr.,
City of Lewiston 784-2951, TTY/TDD: 784-5999 |
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