Bringing Financial Education to the Community

Despite her circuitous route to a bachelor’s degree in economics (1998) and an MBA (2000), Moravian alumna Erlinda Aguiar always saw her life’s path. “From very early on, I knew my calling was to help others. Wherever I go, I try to connect with those providing caring to the community.”

A native of El Salvador, she studied at the National University of El Salvador for two years before civil war in her country brought that to an end. In 1986, she decided to visit her mother, who migrated to the United States when Erlinda was only a few months old. Living in Plainfield, New Jersey, Aguiar began her career at Summit Bank. When she learned about First Valley Bank—Summit’s sister bank in the Lehigh Valley—she relocated. “I loved the parks in Allentown; it was a great place for my three boys. I wanted the kids to have that space, and I like to walk and run as well.”

While working in Bethlehem, Aguiar enrolled in Moravian University’s continuing education department, attending evening classes to pursue her degree. She recalls that Linda Heindel, dean of continuing and graduate studies at that time, was “so wonderful; so kind and welcoming. She helped me learn everything I needed to enroll and take classes while I was working full-time, going to school full-time, and raising a family.”

Aguiar also credits James West, professor emeritus of economics and management, and Santo Marabella, professor emeritus of management, for their support. “Had I not gotten the fantastic education I had at Moravian, I would not be as empowered, knowledgeable, and prepared as I was when I graduated,” she says.

In 2016, Aguiar suffered a serious car accident, resulting in a traumatic brain injury and an 18-day coma, followed by successful rehab at Good Shepherd Rehabilitation. The experience helped her realize “maybe my mission was not completed, and I have a second opportunity to live and fulfill it. I’ve used whatever things have happened to me—including those wonderful experiences at Moravian—to learn so that I can tell my story and help and encourage and give hope to other people.”

In her role as the Bank On Ambassador for United Way of the Greater Lehigh Valley, Aguiar combines her expertise and experience in banking and finance with her desire to “give back” and help people take charge of their financial health.

She recognizes that “unbanked” and “underbanked” families spend an estimated $40,000 on financial services over their lifetimes if they don’t have a bank account. “In the past few years,” she says, “more than 42 percent of households in the Lehigh Valley have faced financial instability, and many may not have any savings for an emergency if one arises.”

In early 2024, Bank On Lehigh Valley started bringing financial education programs to community schools in the Allentown School District, where students learn about budgeting, saving, credit cards, and loans. “The earlier we bring this knowledge to everyone, the better. The kids take the information home to parents, but we also offer a family night, where we provide solutions to common problems for families who lack connections and resources to resolve them.”

Bank On Lehigh Valley works with a coalition of financial institutions, with funding from the Cities for Financial Empowerment Fund in Washington, DC, the City of Allentown, and United Way and through grants and contributions from other sources. “The people in the coalition are so wonderful,” says Aguiar. “They do what they do because they want to help our community. They always ask, ‘What can I do? How can I help?’”

About the Bank On initiative and the promise it holds for many, Aguiar says, “Hope is so powerful. It can make you see the future from a different perspective.”—Renée A. James