WASHINGTON–Numerous credit unions this week are acting as sponsors of the EVERFI National Financial Bee, which runs all week long.
The National Financial Bee is a first-of-its-kind nationwide virtual financial literacy challenge for students in 7th-10th grade, resulting in three students each winning a scholarship up to $10,000.
Sponsors include U.S. Senate FCU in Washington, Canvas CU in Colorado, PremierOne Credit Union in California, and Community First Credit Union in Florida.
“As families across the country adapt to the challenges of balancing 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 three credit unions said in their respective statements.
The Challenge
The challenge, created by EVERFI, features a short digital lesson over five days, and ends with a 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; first prize winning $10,000, second prize $6,000, and third prize $4,000. In addition, Canvas Credit Union will be recognizing one exceptional Colorado student with a separate award of $2,500.
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.
What the Credit Unions are Saying
- “At this time of unprecedented uncertainty, and during Financial Literacy Month, USSFCU is especially committed to engaging its communities, increasing financial literacy, and driving impactful change,” said Arthur Green, USSFCU’s VP-marketing. “We are proud to be supporting parents and students at this time through the National Financial Bee and hope it helps drive dinner-table conversations about important financial topics.”
- "We are all very passionate about preparing students for the financial responsibilities and realities that the future will bring, and steering them towards choices that will help them to make a better life for themselves," said Steve Ferrero, Chief Community Engagement Officer for Canvas. "During Financial Literacy Month, and especially during this time of disruption and uncertainty, we are proud to be playing a role in helping parents and students in our communities plan for their financial future and find ways to pay for college through our support of the National Financial Bee."
- "PremierOne Credit Union is a strong advocate of financial education, and we are excited to part of the EVERFI National Financial Bee," said PremierOne Credit Union Vice President of Marketing Janice Johnson. “This is a very challenging time for parents and students. To be able to provide additional educational tools along with the opportunity to win a scholarship is something we are very pleased to provide.”