Page 21 - BusinessWest May 12, 2025

advisor, we’re trying to give some help-
ful tips and help people regain control
of their finances, stick to a budget, and
cope with today’s economic challenges.
“We want to help people transi-
tion from poverty to a more equitable
future,” he went on. “By establishing
generational wealth, buying homes, and
establishing some credit, that’s defi-
nitely going to help families down the
road.”
Having offered financial-literacy
programs since 1996, Gerulaitis noted,
Country Bank has seen those initiatives
take on a life of their own.
“These programs make a difference.
Sometimes parents are not in the finan-
cial situation they expected themselves
to be in, and I’ve found the grown-ups
at home sometimes don’t talk to kids
about money. Maybe they’re embar-
rassed about their financial situation.
“So, whether they come from a
wealthier background or not — really,
all walks of life — these programs
empower students to make the deci-
sions themselves. After all, if the
parents aren’t having these conversa-
tions, who is?”
Sherleen Crespo, vice president,
branch manager, and mortgage spe-
cialist at Westfield Bank, who is being
honored as one of BusinessWest’s 40
Under Forty this spring, said this real-
ity — and the opportunity to start the
conversation — is one of the reasons
she loves being in banking.
“Sometimes financial literacy
starts in the home, but not everyone
has access to that,” she said. “Parents
try their best, but they may not know
as much as they should. And that lack
of education affects people.
“Now, schools are very much
involved in financial literacy. They
invite me in, and that’s something
that we didn’t have when I was grow-
ing up,” Crespo added. “It’s super
important. It’s planting a seed toward
breaking these generational cycles.
The more we can educate people, the
more that they’ll be able to grow.”
Gerulaitis agrees, and has anec-
dotal evidence to boot.
“I run into students after they’ve
been through the programs — at the
grocery store or a restaurant — and
they say, ‘thank you, thank you. I got
my first job, and a lot of what you
said makes sense now.’ They put it
into practice. That’s why we hit them
when they’re seniors. Whether they’re
going into the workforce or college,
these skills are necessary at all levels.
You can see the impact later on.”
And it’s not just high-schoolers;
Country Bank targets educational
programs throughout the community,
from college students to senior cen-
ters. She’s even read age-appropriate
books about money to preschoolers.
Bridging the Gaps
Moynihan said the United Way
has a Thrive program that goes into
workplaces, helping coach employees
on the best ways to navigate financial
Business W est
“Sometimes financial literacy starts in the home, but not
everyone has access to that. Parents try their best, but they
may not know as much as they should. And that lack of
education affects people.”
struggles. In fact, three staffers are cer-
tified as financial coaches in the work-
place, and they come at their roles from
a mentorship perspective.
“We’re not giving you this informa-
tion and saying, ‘now go figure it out
yourselves.’ We’re setting you up with a
mentor to walk you through these pro-
grams that will support you not just in
your financial education, but on every-
thing else that impacts your life.”
Another Thrive coach is a social
worker, “so he understands the full
scope of the needs of our clients — not
just help with financial literacy, but so
many other underlying issues that need
to be addressed in the classes,” she
went on. “We work with individuals to
understand and identify the other areas
where they need support so they can
become financially stable.”
Every individual doesn’t need the
same level of support, or the same edu-
cational components, she noted; some
need close hand holding to get through
it, and others just need to learn about
different modalities to budget, save, and
make good financial decisions.
“You don’t know what you don’t
know, but it’s one of those things where
Literacy
Continued on page 23 >>
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