Local Madison High Schools are taking advantage of the Park Bank Financial Scholars Program, an online financial literacy program that is fully funded by Park Bank. Partnering with leading education technology company EverFi, Inc., Park Bank has helped to bring this interactive, web-based financial education program to 415 students since the program’s inception in 2013. In the 2015-2016 school year alone, the program is projected to reach more than 550 high school students throughout Madison.
“The landscape of the financial industry and how the consumer saves and spends money is changing at a rapid pace, and we want to make sure that our youth are well prepared to make financially responsible decisions,” said Park Bank President/CEO Jim Hegenbarth. Valuable topics covered are taxes and insurance, financing higher education, credit and borrowing, savings, and investing are taught in conjunction with the teacher and an online, interactive web-based program. In addition, Park Bank employees also participate in the Teach Children to Save Day with the Wisconsin Banker’s Association and through Junior Achievement.
The 278 students reached through the Park Bank Financial Scholars Program so far this year have completed an estimated 1,350 hours of financial education. Park bank launched the program at Edgewood High School in 2014 and began rolling it out at Madison West High School, Madison East High School, James Madison Memorial High School, La Follette High School, and Shabazz City High School this year.
“This partnership affords students the opportunity to learn life skills that will enable them to be future ready. We want to provide foundational financial literacy language and scenarios so that when students are ready for a checking account, credit card, and the purchase of a new home, they understand how to manage their financial situation,” saidMMSD Director of Instructional Technology and Media Services Beth Clarke. “We are grateful for this opportunity!”
Park Bank has partnered with EverFi, Inc., Madison Metropolitan Schools, and Edgewood High School to bring the program to local students at no cost to the schools or the taxpayer. The web-based program uses the latest in new media technology to bring complex financial concepts to life for today’s digital generation. The 7-8 hour course covers a variety of critical financial topics, while providing teachers with real-time performance data to guide student instruction. Students who successfully complete the course are rewarded with a certificate, a valuable mark of distinction, that can be used on job and college applications.
“EverFi strives to help today’s generation prepare for a lifetime of challenging financial decisions,” said EverFi CEO and Founder, Tom Davidson. “We are grateful for our partnership with Park Bank which provides the critical tools students need to be informed and responsible consumers.”
About Park Bank
Founded in 1966, Park Bank is Madison’s longest serving community bank with nearly 200 employees and 12 branch locations, and $750 million in assets. Park Bank provides services to Dane County residents and businesses that help them achieve their dream – whether it’s a new home or a start-up business. Each year, Park Bank contributes to over 50 local organizations, as well as provides hundreds of hours of employee volunteer time, as a reinvestment in our communities.
EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K-12 and college students in the critical skills they need for life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America’s leading CEOs and venture capital firms are EverFi investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, Rethink Education, New Enterprise Associates, Inc. (NEA), and Tomorrow Ventures (the investment arm of Google Chairman Eric Schmidt). Learn more at www.everfi.com.