Severn Savings Bank Supports Financial Education Resource for Students
In 2021, we announced the launch of a new personal finance education program for elementary school students. We are working with the nation’s leading social impact education innovator, EVERFI, Inc. to deliver financial education to students in Dorchester County of Maryland and Accomack County of Virginia. At the end of the 2021 school year, we delivered 436 learning hours to 361 students in 9 schools located in low- to moderate-income communities.
The Vault digital education curriculum provides elementary school students in Maryland and Virginia with life skills like financial empowerment, mental wellness and money skills to help them succeed both in and outside the classroom after a difficult year amidst the COVID-19 pandemic. These resources were made available to schools at no cost through our relationship with EVERFI, the leading Impact-as-a-ServiceTM education innovator.
Since launching the education initiative in 2020, we successfully increased the schools awareness of the program and its impact on students, schools, and local communities. To date, more than 361 students have taken the course in 9 schools. Program highlights from the 2020-2021 school year include:
- Reach: The program helped 361 students actively participating across 9 schools.
- Knowledge Gain: Students increased their scores on assessments by 57%.
- Learning Time: Cumulatively, students completed 436 hours of learning time.
Debra Rich, Chief Marketing and Project Officer at Severn Savings Bank believes, “the EVERFI financial education is designed to go beyond literacy to develop financial capability. Learners build confidence and begin to develop the habits they need to support financial well-being".
“EVERFI works with teachers and students every day in schools across the country to bring financial lessons to life by harnessing the power of technology,” said EVERFI Co-Founder and President of Financial Education, Ray Martinez. “In a country where only 24 percent of our young people can answer basic financial wellness questions, teaching kids to handle their finances has never been more important. By laying the foundation of financial literacy at a young age, students will be set up with the critical skills needed to make responsible financial choices for the rest of their lives.”
The standards-based course leverages performance-based games to immerse students in real-life financial scenarios that focus on responsible decision making and skill-building. Covering a wide range of topic areas including fiscal responsibility, money management, credit and more, this resource increases basic financial literacy for students and builds the foundation for healthy financial decision-making at a young age.
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About EVERFI, Inc.
EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 30 million learners globally. EVERFI powers community engagement in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges and universities, and some of the largest corporations to leverage insights and connections to drive impact. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, Advance Publications, Rethink Education and Rethink Impact. To learn more about EVERFI visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI
