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National Cooperative Bank Reaches 1,000 Students through Online Financial Education Program

Over 350 students reached in the 2015-2016 school year  

Hillsboro, OH – (September 15, 2016)National Cooperative Bank (NCB), a leading financial institution which provides banking products and services to Southern Ohio and the nation's cooperatives, their members and other socially responsible organizations, has partnered with leading education technology company EverFi, Inc., to bring an interactive, web-based financial management program to over 1,029 students since the program’s inception in 2013. In the 2015-2016 academic year, 354 students were reached among the five local high schools that utilized the Money Matters Program.  

“NCB is proud to have empowered so many students with the essential skills needed to make sound financial decisions. It’s a testament to our investment in the local community,” Deb Jones, NCB Co-President, Ohio Region said. “It is crucial that our younger generation understand important aspects of personal finance and this program equips them with the knowledge needed to successfully navigate the increasingly complex financial world we live in.”

The 354 students reached through the NCB’s Money Matters Financial Literacy Program, completed 2,675 individual modules of learning during the 2015-16 school year. Students’ understanding of key financial topics rose by an average 64% based on pre- and post-assessment scores. Among the valuable topics covered were saving, banking, investing, renting versus owning, credit scores, taxes and insurance, and consumer fraud.

“The program engages and interacts with students while placing them in real-world scenarios,” said a teacher using the program. “Students truly appreciate learning about topics that they can and will use in their day-to-day lives.”

According to recent EverFi survey data, 87% of parents talk to their kids about money but only 43% of parents describe themselves as ‘well prepared' to teach their kids about money, and many do not discuss more complex concepts like credit, financing higher education, or building wealth, focusing instead on values and rules-of-thumb like saving, managing spending, and avoiding debt.  These statistics support the need for financial education in a school setting, where all students have an equal opportunity to learn essential financial skills.

NCB’s Money Matters Financial Literacy Program is implemented in a co-curricular basis, providing students with the opportunity to develop healthy financial attitudes and behaviors in a classroom setting.

NCB awards a $1,000 scholarship to a graduating senior at each of the schools that participate in the program and awards a $2,000 Technology Grant to the school that has the highest percentage of students that complete the program.

"Helping students and adults develop a foundation of financial understanding and capability is absolutely critical," said EverFi Founder and CEO Tom Davidson. We are grateful for our partnership with NCB who is tackling this issue head on and taking positive steps to prepare young people with the critical financial management skills needed to be savvy, responsible consumers.”

 

About National Cooperative Bank: National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @natlcoopbank.

About EverFi:  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.