WALDORF, Md., April 21, 2017 (GLOBE NEWSWIRE) — Community Bank of the Chesapeake and educators from North Point High School honored over 186 graduates from the Community Bank Financial Scholars Program, a web-based financial education course designed to provide students with the critical skills needed to make sound financial decisions. Community Bank has partnered with leading education technology company EverFi, Inc., to bring this interactive, web-based financial education program to 15 schools across Charles, St. Mary’s and Calvert County Schools. Since the program’s inception in 2011, the program has reached over 14,300 students.
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Students at North Point High School received certificates for their outstanding work in completing the program. The event included remarks from students, Kennard Wallace, Public Affairs Officer for Maryland Comptroller Peter Franchot, Dr. Kimberly Hill, Superintendent, Charles County Public Schools, Michael Simms, Principal, North Point High School, Teresa Roach, Branch Market Manager, Community Bank of the Chesapeake and Alice Wagner, Vice President, Mid-Atlantic Region, EverFi.
“These students are our future consumers, business owners and leaders of our community. The more we can invest in them to understand the importance of intelligent financial decisions, the more we all benefit,” said Teresa Roach, Branch Market Manager of Charles County, Community Bank of the Chesapeake. “Community Bank of the Chesapeake is proud to partner with EverFi to bring financial education to these students and prepare each one of them for a successful financial future.”
Community Bank of the Chesapeake has partnered with EverFi, Inc. to bring the program to local students at no cost to the schools or taxpayers. The web-based program uses the latest in new media technology to bring complex financial concepts to life for today’s digital generation. The course offers over eight hours of programming covering a variety of financial topics such as savings, investments, credit cards and student loans. In 2015, the Consumer Financial Protection Bureau (CFPB) highlighted EverFi’s schools-based financial education programs in a new report on Advancing K-12 Financial Education: A Guide for Policymakers.
“Our goal as educators is to prepare our students for a prosperous future, a job which often extends beyond a typical classroom,” said Dr. Hill, Superintendent Charles County Public Schools. “Partnerships across school districts and private sector institutions allow educators to provide an important educational supplement, such as the Community Bank Financial Scholars program and enable us to give our children the best possible chance to reach their full potential.”
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. The Community Bank Financial Scholars program is implemented in a co-curricular basis, providing teachers with a valuable tool to use with students in a classroom setting. Data collected from more than 3,700 students who completed the program in the 2015-2016 academic year, revealed that students’ understanding of financing higher education scores increased by an average 50% after interacting with the curriculum.
“By partnering with the teachers whose passion is to enrich the lives of their students, the Community Bank Financial Scholars program helps students gain the critical skills necessary to make them successful for the rest of their lives,” said EverFi Founder and CEO Tom Davidson. “We are striving to create a world with fewer bankruptcies, fewer people defaulting on their student loans and more people who feel in control of their financial future. Through Community Bank of the Chesapeake’s investment in these students, we are one step closer.”
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, and Google Chairman Eric Schmidt. Learn more at everfi.com.
Headquartered in Waldorf, Maryland, Community Bank of the Chesapeake is a full-service commercial bank, with assets over $1 billion. Through its 12 banking centers and five dedicated commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses. Community Bank of the Chesapeake is a wholly owned subsidiary of The Community Financial Corporation (NASDAQ:TCFC). More information about Community Bank of the Chesapeake can be found at www.cbtc.com.
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