BankNewport hosted a Virtual Financial Education Fair for students at West Warwick, Portsmouth, and Rogers High School in Newport, who participated in its 2021 BNWise financial education program.
The virtual fair featured videos and digital online resources that guided students through a final assignment: creating their own personal monthly budget. The program was designed to have students make lifestyle spending decisions based on their chosen career, monthly income and living expenses.
The Bank also awarded four $1,000 scholarships to students who participated in the Financial Education Fair program.
“The goal of the culminating Financial Education Fair is for students to make lifestyle spending decisions based on their chosen career, monthly income, and living expenses, to develop a better understanding of what it takes to budget month to month,” said Kathleen Charbonneau, Vice President/Director of Community Relations, BankNewport in a statement.
In addition to the Financial Education Fair, the BNWise Financial Education program made a significant impact on middle schools and high schools in Rhode Island during the school year. As of June 3, 2021, more than 1,450 active students from 25 schools participated in bank-sponsored financial literacycourses. Of the 5,815 completed modules across the participating schools, students achieved a 56% knowledge gain of key financial education content.
“The COVID-19 pandemic brought unprecedented changes to our lives over the past year, and further raised the importance of financial literacy,” continued Charbonneau. “As a community bank, sharing our financial expertise is central to BankNewport’s mission, and we are extremely proud to present valuable financial lessons to the youth of our community so that they have the knowledge and confidence to make sound financial choices and achieve success as future employees, parents, and members of our community.”
For those beyond the classroom, BNWise community programming offers personalized adult financial education courses. From January through June 2021, over 70 community members participated in 5 BNWisecommunity programming covering topics including: financial foundations, owning a home, financial caregiving, preparing for retirement, building financial capability, managing your credit and investing in your future.