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CTE - Financial Literacy in DC

Bank on DC Teams Up with  EverFi, Inc. to Provide Innovative Financial Literacy Technology Platform to DC Residents

May 30, 2012– Bank on DC today announced a new partnership to bring financial literacy education to high school students across Washington, DC by providing them with access to the DC Chamber Financial Scholars Program, powered by EverFi. This web-based platform uses the latest in new media technologies – video, animations, 3-D gaming, avatars, and social networking – to bring complex financial concepts to life for today’s digital generation. Through the platform, students will become certified in over 600 topics in financial education, allowing them to become more informed, responsible citizens. Bank on DC has partnered with the DC Chamber of Commerce Foundation and EverFi, Inc. to include the interactive financial management platform to their financial education seminars.  The platform is available to DC students and residents at no cost thanks to the generous support of the DC Chamber of Commerce Foundation.

The 10-unit course offers 6 hours of programming aimed at teaching, assessing and certifying students in a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k’s and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and score of every student and provides students who successfully complete the course with Certification in Financial Literacy, a valuable mark of distinction on resumes, college applications, and job applications.

Bank on DC strives to raise awareness among unbanked consumers, which includes the District’s youth, about the benefits of account ownership and empowering them to work towards creating a sustainable economic picture for the welfare of their future. Initiated in April 2010 this collaborative provides greater access to financial services and product for over 250,000 unbanked and under-banked households in the Washington, DC area. This program is intended to help improve financial literacy, build assets, and save money.

"Bank on DC and EverFi’s financial literacy education courses will provide our Summer Youth Employment Program participants with real-world financial information that will be critical for them to understand when they transition to college, full-time jobs, or operating their own businesses,” said Gerren Price, Associate Director of Youth Programs at the Department of Employment Services.  “The curriculum is a perfect complement to the Summer Youth Employment Program.  Young people need to know that earning money is only part of the equation and that investing and saving wisely is what it’s all about.”

About Bank on DC

Is a collaborative effort between District Government, Federal Reserve Bank, financial institutions, and numerous nonprofit organizations to provide greater access to financial services/products and education to the unbanked and under-banked residents of the District. Special acknowledgement of BODC financial partners: Agriculture FCU, Amalgamated Bank, Bank of Georgetown, Bank of America, DGE FCU, DVA FCU, HEW FCU, Industrial Bank, PNC Bank, United Bank, and Wells Fargo.

Visit: www.bankondc.org/youthportal

About EverFi  

EverFi is the leading education technology platform company to teach, assess, and certify students in critical skills including Financial Literacy, Student Loan Management, Digital Literacy, and Health and Wellness. The company is already powering a national movement in 50 states that enables students to learn using the latest technology, including rich media, gaming, high-definition video, and simulations.  EverFi teams with major corporations and foundations to provide the programs at no cost to schools. To date, more than 3 million students have completed EverFi learning platforms.  Learn more at www.everfi.com.

About DC Chamber of Commerce Foundation

The District of Columbia Chamber of Commerce Foundation (DCCCF) is a 501(c)(3) non-profit organization established for educational and charitable purposes.  The Foundation is designed to promote training and education, enhance the knowledge of small businesses and administer a variety of programs that enhance the economic landscape of the District of Columbia.

EverFi Overview for Schools