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Union First Market Bank Supports Financial Literacy Program

Stocks in this article: UBSH

RICHMOND, Va., April 27, 2011 /PRNewswire/ -- Union First Market Bank announced its local sponsorship of EverFi, a leading web-based financial literacy platform, in partnership with statewide sponsor, the Genworth Foundation, as part of their My Money My Future initiative.  Union First Market Bank has made a commitment to help support and underwrite the program in more than 70 high schools throughout its Virginia service area.

(Logo: http://photos.prnewswire.com/prnh/20091027/NE00206LOGO )

"Education is one of Union First Market Bank's corporate social responsibility pillars," said G. William Beale, chief executive officer of Union First Market Bankshares. "Improving the financial literacy of high school students will make them wiser consumers of financial products. The EverFi program uses the latest technology to improve the quality of learning and retention."

High schools in Virginia can now be part of a nationwide network of more than 3,000 schools that have incorporated the EverFi platform into their curriculum.  The online platform aligns with Virginia Standards of Learning and uses the latest in new media technology to teach, assess and train high school students in more than 600 core concepts of personal finance.  Video, messaging tools, unique 3D environments, RSS feeds, avatars and gaming components enable students to explore real-world settings, from the floor of the New York Stock Exchange to a used car dealership.  Through exploration of real life situations, students are able to absorb financial lessons contained in the following learning modules and topics:

  • Wants versus needs
  • Savings
  • Banking
  • Payment types, interest rates and credit cards
  • Credit scores
  • Financing higher education
  • Renting versus owning
  • Insurances and taxes
  • Consumer fraud
  • Investing

Educators can use the online financial literacy program in a co-curricular or stand alone manner in a wide variety of subjects and class levels. Upon successful completion of the program, students earn a certificate of completion as having a solid financial knowledge base.  

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