The Pension Boards recently hosted its inaugural financial wellness webinar in Spanish for its Spanish-speaking members in March 2023.

The webinar, led by Taisha Rivera Cruz, Associate, Benefit Consultant, focused on financial planning for disasters, which informed participants how to financially prepare for unexpected life events such as illness, job loss, or natural disasters, which can significantly impact one's finances.

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The epicenter of recent events is Silicon Valley Bank (SVB), which took most of its deposits from venture capital related private companies, especially in the past two years, and invested those short-term demand deposits in long-term Treasury and agency securities. Depositors began last week to make substantial withdrawals of their funds at SVB based apparently in part on rumors in Silicon Valley about SVB’s stability. SVB’s own cash and capital needs accelerated due to losses on sales of its securities to fund the customer withdrawals. In other words, we have seen a classic “run on the bank.” The same concerns of depositors also triggered similar behavior at a few other smaller banks.

 Rev. Bruce G. Epperly, PhD

The Celtic spiritual tradition is replete with stories of monks, who set off on the high seas in small boats, coracles, in search of their place of resurrection. Without a rudder, they depended on God’s grace alone to guide them in the winds and waves and provide a way to their true spiritual home, the place where they could experience eternity in the world of living and dying.