Elmwood Park, NJ, May 23, 2018 --(PR.com
)-- Spencer Savings Bank was honored with the 2018 Financial Capability Innovation Award presented by the nation’s leading technology innovator, EVERFI, Inc. The award recognizes Spencer’s significant efforts to improve the financial capability of Americans through unique digital learning initiatives.
“As a financial institution we understand the importance of proper money management and want to spread that knowledge. This award makes us especially proud and we are honored to be recognized for all the financial education we’ve provided to local students over the years,” stated Jose B. Guerrero, Chairman, President and Chief Executive Officer. “Spencer strongly believes in the importance of teaching financial literacy to ensure our youngsters grow up to become financially stable adults. We’re proud to lend our time and resources to schools to help make this happen. As a community bank, we remain committed to this cause and to supporting many other local organizations that improve our community.”
Honorees were selected based on a set of criteria that included the scale and reach of their financial education initiatives, the duration of their commitment, and unique employee volunteering activities that supplement their programs.
“Each year, we honor institutions that are truly dedicated to going above and beyond in service to their communities,” said Ray Martinez, EVERFI President of Financial Education. “The Financial Capability Innovation Awards have given us the opportunity to share and celebrate the tremendous investment these institutions are making and continue to make in the communities where they live, work, and serve. For EVERFI, our time here reminds us just how critical the role innovation continues to play in empowering Americans to pursue economic opportunity and achieve financial security for themselves, their families, and their community.”
Spencer is committed to providing students with the skills and knowledge needed to successfully navigate the increasingly complex financial world we live in. Spencer has partnered with EVERFI to bring financial literacy to local students at no cost to schools or taxpayers and has reached over four thousand students since 2012. The web-based program uses the latest in simulation and gaming technologies to bring complex financial concepts to life for today’s digital generation.
Administered by teachers in a classroom setting, the web-based course offers over six hours of programming on a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k’s and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and performance of every student.
About Spencer Savings Bank
Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., has been serving its local communities with integrity and pride for more than 75 years. The bank has over $2.7 billion in total assets and operates 21 branches throughout New Jersey. Spencer specializes in delivering premier banking products and services for consumers and businesses. Visit SpencerSavings.com for more information.
EVERFI, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in 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.