Waldorf, Maryland, February 13, 2017 — Community Bank of the Chesapeake has signed a three-year contract with EverFi, renewing their partnership to continue Community Bank’s Financial Scholars Program in high schools throughout the Tri-County area. During the three-year program, Community Bank of the Chesapeake will devote over $97,000 towards financial education in schools.
“Knowing how to manage your money and prepare for the unexpected is instrumental in life. Through Community Bank’s Financial Scholars Program we hope to instill in students the financial education they need to prepare for life after high school,” said Jim Di Misa, Executive Vice President and COO, Community Bank of the Chesapeake. “Partnering with EverFi allows us to positively impact students’ financial decisions by giving them the opportunity to learn using a unique approach.”
Community Bank of the Chesapeake’s Financial Scholars Program provides teachers with an online personal finance tool to help educate their students on important financial basics such as investing, filling out FAFSA forms, understanding payments, credit scores and more. The courses use engaging multi-media technologies like animations, video games, avatars, etc., to encourage a fun and valuable learning experience. The program tracks students’ progress during the course, providing teachers feedback and specific needs of the students.
“Financial Literacy is important because it helps to set the stage for students to become financially responsible adults. When students learn to manage their finances it will help to make it easier for them to achieve their dreams and goals in life. I can't tell you how many parents have said, ‘I wish I had this class when I was my kid's age!’” said Sharonda Scott, North Point High School Personal Financial Literacy teacher.
The Community Bank Financial Scholars program has reached 15 schools and 13,446 students over the past six years. For the 2016-2017 school year, the program has currently reached 13 schools, 2,290 students with over 6,679 learning hours.
“Community Bank of the Chesapeake’s Financial Scholars Program powered by Everfi has a significant impact on the students’ financial understanding. After taking the program, students have increased their scores on financial assessment tests by an average of 66%,” said Alice Wagner, Vice President, Mid-Atlantic Region, EverFi. “Through our partnership, our goal is to provide valuable financial skills that will empower these teens to make wiser decisions as they move on to college and more.”
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. Its comprehensive critical skills platform is focused on Financial Education, Digital Citizenship, STEM Career Readiness, Diversity and Inclusion, Entrepreneurship, Character Education, and Health and Wellness. The EverFi Education Network is powered by more than 3,300 partner organizations across all 50 states and Canada and annually reaches 6 million learners. Learn more at everfi.com
Headquartered in Waldorf, Maryland, Community Bank of the Chesapeake is a full-service commercial bank, with assets over $1 billion. Through its 12 banking centers and five dedicated commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses. Community Bank of the Chesapeake is a wholly owned subsidiary of The Community Financial Corporation (NASDAQ: TCFC). More information about Community Bank of the Chesapeake can be found at www.cbtc.com.