We simply couldn’t be more excited. Yesterday VCNB was recognized with an incredibly prestigious award and we can’t wait to tell you about it.
VCNB was honored to receive the Innovation in Financial Education Award presented by Nasdaq and EverFi. The award recognizes its significant efforts to improve the financial capability of young Americans. Only twenty-five financial institutions were honored with this distinction at a ceremony hosted Tuesday at Nasdaq’s Marketsite headquarters in New York City.
Honorees were selected based on a set of criteria that included the scale and reach of their financial education initiatives, the duration of their commitment, and unique employee volunteering activities that supplement their programs.
“The institutions we’re recognizing here today have led exceptional efforts to rethink how financial education is taught in our nation’s schools,” said EverFi Founder and CEO Tom Davidson. “Our global competitiveness is dependent on the next generation understanding how the economy works and how to achieve financial security in their lives. We are grateful to the organizations that are helping pave a brighter future for students today.”
As young adults are faced with increasingly complex financial decisions, VCNB is committed to providing students with the skills and knowledge needed in order to succeed. VCNB has partnered with EverFi to bring the financial education program Financial U to local students at no cost to schools or taxpayers, reaching over 1200 students since 2012. The web-based program uses the latest in new media technology – simulations, gaming and adaptive-pathing – to bring complex financial concepts to life for today’s digital generation.
VCNB offers EverFi’s Financial U at Logan, Chillicothe, Southeastern, Circleville, Teays Valley, Canal Winchester, Berne Union, Watkins Memorial, Vinton County and Fairfield Union high schools.
VCNB Vice President of Marketing Audra Johnson called this a proud day for VCNB. “We are honored to accept this award for Financial Education Innovation from Nasdaq and EverFi. This is a very proud day for us and hopefully for the ten schools that participate in our Financial U program,” Johnson said. “Financial U is intended to help students become more self-aware and smarter about their financial decisions and thus far, it has proven its worth. It is all about helping our local youth prepare for their future.”
A FINRA-funded study released in February 2015 found that students who received rigorous financial education in high school saw increased credit scores and decreased chance of credit delinquency as young adults, compared to their peers who did not receive financial education.
Administered by teachers in a classroom setting, the web-based course offers over six hours of programming on 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 performance of every student.
VCNB has long been a supporter of financial education in local schools. Staff members frequently visit students in local schools through Teach Children To Save programs, Get Smart About Credit, Bremen Banking Days and several other events.