CommonWealth Central Credit Union today announced that it is sponsoring the EVERFI National Financial Bee, taking place April 20-24, 2020. The National Financial Bee is a first-of-its-kind nationwide financial literacy challenge for students in 7th-10th grade.
As families across the country are struggling to balance work, childcare, and homeschooling amidst widespread school closures driven by the COVID-19 pandemic, the National Financial Bee provides an opportunity for students to have some fun and learn critical financial concepts at home while social distancing.
The five-day challenge, created by social impact education innovator EVERFI, and supported by leading financial institutions nationwide, features a short daily digital lesson and capstone essay contest in which students will share a financial dream of theirs and how they plan to get there. Winners of the National Financial Bee will receive a total of $20,000 in college scholarships.
“Improving the financial well-being of our members and communities has always been at the core of who we are at CommonWealth,” said Craig Weber, CEO of CommonWealth Central Credit Union. “And during these challenging and uncertain times, we remain committed to our focus on financial literacy and making an impact in our communities. We are proud to be supporting parents and students at this time through the National Financial Bee.”
During each day of the challenge, participating students will gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future. Topics include spending and saving, credit and debt, employment and income, investing, and insurance.
“Across the country, families are facing unprecedented uncertainties and challenges. Parents are dealing with the loss of income or are adjusting to working from home, while students are trying to continue their studies outside of the classroom,” said Ray Martinez, founder, and president, EVERFI. “We’ve always been committed to helping students increase their financial literacy, and during this historic time we are also working to help parents feel secure -- and help students stay engaged. The National Financial Bee is a fun way for students to compete with their peers while social distancing.”
To further support the National Financial Bee and our local students, CommonWealth will be drawing three, $500 scholarship winners from the group of participants. Students who complete the Financial Bee will also receive $50 to put into their CommonWealth savings account! In addition to supporting the National Financial Bee, CommonWealth works with EVERFI to provide schools-based financial education throughout Santa Clara County, and web-based financial education to help consumers navigate financial uncertainty and plan for the future.
To learn more about the National Financial Bee, visit www.wealthcu.org/financial-bee