National Elevator Industry Educational Program brings Financial Tools for the Trades to members nationwide
Joe Devlin knows that construction can be tough. As Assistant National Director of the National Elevator Industry Educational Program (NEIEP), Devlin oversees the training of 26,000 elevator constructors nationwide. “Even in a strong economy, the risk of unemployment is a reality for people who work in construction,” he says. Workers who can manage their personal finances are better able to weather the lean times, especially as the construction industry continues to see double-digit unemployment rates.
Financial education is not traditionally taught in craft training, but that’s now changing for the elevator industry. NEIEP, which is affiliated with the International Union of Elevator Constructors, has become the first trade-specific educational program to incorporate Financial Tools for the Trades into its training curriculum nationwide. This ensures that elevator constructors across the country have the financial skills they need to succeed.
Financial Tools for the Trades, created by Seattle-based non-profit Port Jobs, is a money management class that combines personal finance – like creating spending plans and building good credit – with an industry- tailored focus. “We talk about the financial realities of working in construction,” says Stephanie Kellner from Port Jobs, who manages the program. “And how people can enjoy the good pay and benefits while taking steps to protect their financial stability.”
Developed in 2005 with support from the National Endowment for Financial Education, Wells Fargo, and help from several Seattle-area apprenticeship programs, Port Jobs has taught Financial Tools classes to more than 1,300 workers in the Pacific Northwest. The class has been so popular that Port Jobs released a Trainer Toolkit, making the curriculum available to construction training programs nationwide.
Devlin says NEIEP decided to integrate financial education into its program because “most adults are never exposed to financial planning while in high school. We wanted to make our members aware of some of the pitfalls of poor money management. Learning how to deal with credit cards is at the top of the list. My hope is that learning how to manage money will lead to greater things, like building wealth.”
Financial Tools for the Trades will be taught to industry members at more than 100 training centers across the country. NEIEP and Port Jobs are also exploring the creation of an online Financial Tools course to be part of NEIEP’s distance learning program.
“I've got a big family, and every month there is an emergency,” says John, an apprentice featured in a video about Financial Tools for the Trades. “I’m really interested in having a spending plan and emergency fund. Having a Financial Tools class [as part of apprenticeship training] sends the right message that this is something that everybody should sit down and learn.”
Contact Port Jobs if you want to learn more about how to bring Financial Tools for the Trades to your training program!
