CIBC FirstCaribbean (FCIB) Country Treasurer Beulah Arthur (center) and the young ladies of S.T.R.A.W. Inc. Ms. Arthur gave a presentation on financial planning and responsibility.
In celebration of International Women’s Day, CIBC FirstCaribbean once again participated in S.T.R.A.W. Inc.’s Annual Girls Leadership Conference©, held at the SuperClubs Breezes Resort, March 11th. The event attracted over 400 girls from public and private high schools throughout New Providence and the Family Islands.
Beulah Arthur, Country Treasurer for the bank, hosted a session on the importance of starting early in fiscal responsibility for the attending teen girls. Mrs. Arthur spoke to the girls on the importance of setting life goals and developing a plan to achieve them. She stressed prioritizing goals by short, middle, and long term timelines to achieve financially stability.
Noting that the ambitious attendees had plans to further their education, Mrs. Arthur advised starting a savings account dedicated to college and emergencies. Admitting the reality that the cost of college today can be prohibitive, she urged those who are determined to go to college to begin a savings plan and be proactive in assisting their parents in making their dream a reality.
The young ladies also got a crash course in investing. Mrs. Arthur introduced the notion of financial risk and explained why finances and assets should be diversified over a number of different instruments. They learnt that money management was about more than money in the bank as she emphasized the importance of having insurance for home, car, health and life. Furthermore, she advocated the students begin contributing to a pension plan with their very first job to ensure their futures.
Dr. Shantell Missick, Volunteer and STRAW Advisory Council Member presents CIBC FCIB Treasurer Beulah Arthur with a ‘thank you’ gift.
The ladies ended with a few review questions on the material and were rewarded with CIBC FirstCaribbean branded prizes and ‘swag’ for correct answers. “They were eager to participate, even before the prizes,” said Mrs. Arthur, who was impressed with the girls’ ambition and participation.
“I was really happy to see how many of these young girls already had a basic grasp of financial tools such as insurance, fixed deposit accounts, and pensions. I tried to build upon what they already knew and teach them to use the tools wisely to set the foundation for a secure financial future. They were very attentive, so quite a few girls walked away with prizes,” she said.
The CIBC FirstCaribbean presentation followed a donation to the host organisation S.T.R.A.W. (strengthening, transforming, restoring, affirming young women) Incorporated ™ Centre for Young Women©. This is the second year that CIBC FirstCaribbean has celebrated International Women’s day with a donation to S.T.R.A.W. Inc., and the bank built upon last year’s activities by also donating to The P.A.C.E. Foundation.
CIBC FirstCaribbean Managing Director Marie Rodland-Allen stated that the bank selected S.T.R.A.W. Inc. and P.A.C.E. because of a strong belief in investing in future generations.
A clever attendee gets a prize from CIBC FCIB Treasurer Beulah Arthur for answering correctly in the CIBC FCIB breakout session at the STRAW Inc. Annual Girl’s Conference.
“We are impressed with S.T.R.A.W.’s determination to empower young women to succeed in their personal and academic lives,” explained Mrs. Rodland-Allen. “CIBC FirstCaribbean actively supports gender equality and the empowerment of women throughout our organization, with women well represented among our managerial staff in Bahamas, about 73%. So we happily celebrate the amazing community programmes creating the next generation of women leaders, and we pledge to continue to promote equality every day in our own organisation.”
International Women’s Day events are part of a regional commitment by CIBC FirstCaribbean to support projects and programmes that assist women, and encourage the development of girls across all spheres of society. Branches across the region engaged in woman-centric charitable and educational activities on March 8th to celebrate the progress that has been made towards gender equality and the achievements of women, and to reflect on what still has to be done.
By Chauntez Dillet-Wilson
Some of the prize-winners show off their CIBC FCIB ‘swag.’ The young ladies could win prizes by correctly answering review questions on fiscal responsibility.
