National Cooperative Bank (NCB) was honored with the Leadership Award at the third annual Financial Capability Innovation Awards presented by the nation’s leading technology innovator, EverFi, Inc.
Presented at Nasdaq Marketsite in New York City, the award recognizes NCB’s significant efforts to improve the financial capability of Americans through unique digital learning initiatives.
“We are honored to receive this recognition from Everfi,” said Charles E. Snyder, president and chief executive officer of NCB. “Since 2013, we have utilized the online financial education platform to empower students with the essential skills needed to make sound financial decisions which is so critical to successfully navigate the increasingly complex financial world we live in. We also have recently launched an adult financial education platform to promote financial wellness to our consumers and co-op organizations across the country.”
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 travel to the birthplace of the American financial system to 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.”
NCB has partnered with EverFi to bring Money Matters to local students at no cost to schools or taxpayers and has reached over 1,264 students since 2013. 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, 401Ks and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and performance of every student.
Every year, NCB awards a $1,000 scholarship to a graduating senior at each of the schools that participate in the program and awards a $2,000 Technology Grant to the school that has the highest percentage of students that complete the program.
This spring, NCB implemented Everfi’s online financial education platform for adult learners. Consumers can take advantage of this financial education at no cost. Modules are self-guided, personalized, flexible and are approximately 3-10 minutes long. For more information, visit www.ncb.coop.
Submitted by Heather Cummings, NCB vice president, marketing communications.