Digital Federal Credit Union, First Republic Bank, Iowa Insurance Division, and TIAA Bank, along with other leading financial institutions, unite to sponsor a digital competition to encourage financial learning while social distancing
WASHINGTON--(BUSINESS WIRE)--EVERFI, Inc., the leading social impact education innovator, today announced the winners of the academic scholarships from the first annual National Financial Bee. Hosted by EVERFI, and sponsored by a number of leading financial institutions, the National Financial Bee was designed to teach real-world financial education skills in a fun and engaging manner to students across the country who are social distancing at home during the extended school closures.
The nationwide initiative, which coincided with Financial Literacy Month and ran from April 20-24, drew nearly 40,000 participants, with almost 2,800 students submitting an optional capstone essay in an effort to win an academic scholarship.
The first-of-its-kind interactive digital learning challenge enabled students in grades seven through 10 to learn about important financial literacy concepts that often do not get enough classroom time during the traditional school year. The National Financial Bee covered topics ranging from budgeting and saving to employment and income, investing, and insurance.
The National Financial Bee consisted of a five-part course and an essay contest where students wrote about their financial dreams and how they plan to achieve them. Winners of the National Financial Bee were selected by EVERFI and received a total of $20,000 in college scholarships. The first-place essay contest winner was William Bird, 16 years old from Hollis Brookline High School in Hollis, NH who received $10,000 in scholarship funds, followed by second and third place winners Karisse Chisholm, 15 years old from Abraham Lincoln High School in San Jose, CA, and Morgan D. Stanley, 16 years old from Greenwood High School in Greenwood, MS, each winning $6,000 and $4,000 in college scholarship funds respectively. The winning essays described aspirations of starting a new clothing brand, establishing an orchestra and exposing underprivileged youth to new musical instruments, and building a family legacy of college graduates to ensure long-term financial stability.
“With more than 124,000 nationwide school closures and more than 55 million students learning from home, families across the country are faced with unprecedented uncertainty and the need for financial literacy has become more important than ever,” said Ray Martinez, founder, and president, EVERFI. “We are grateful for our ability to support students and families in building their financial capabilities and thankful to work with the many financial institutions whose commitment to increasing students' financial literacy made this endeavor possible.”
The inaugural EVERFI Financial Bee was launched with the support of a number of leading financial institutions and included signature sponsors: Digital Federal Credit Union, First Republic Bank, Iowa Insurance Division, and TIAA Bank. To learn more about the National Financial Bee, visit www.everfi.com/financial-bee.
About EVERFI, Inc.
EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 41 million learners globally. Recognized as one of the World's Most Innovative Companies by Fast Company in 2020, EVERFI powers community engagement in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges and universities, and some of the largest corporations to leverage insights and connections to drive impact. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as well as Advance, Rethink Education and Rethink Impact. To learn more about EVERFI visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.