Citizens Community Bancorp MD Enhances Financial Literacy for Boston's Underserved Youth

Empowering Financial Literacy for Boston's Youth: Citizens Community Bancorp MD Takes Action

Citizens Community Bancorp MD is actively addressing a critical gap in financial education for high school seniors in Boston through its collaboration with The Possible Zone (TPZ) and EmpowerED Finances. This initiative is launched against the backdrop of a staggering statistic; around 75% of students across the nation lack access to personal finance courses, a figure that escalates to 95% in urban districts. The program specifically aims to reach students in communities that are often underserved, particularly those attending schools with higher populations of Black and Hispanic students, where standalone finance courses are notably scarce. By focusing on this demographic, Citizens is not only contributing to the students' immediate financial literacy but is also laying the groundwork for long-term economic stability within these communities.

Utilizing EmpowerED's innovative Learn – Earn – Engage model, the initiative teaches essential financial skills such as budgeting, saving, credit management, and investing. Participants can earn digital badges as they progress through the curriculum, and they receive acceleration funding to help them open bank accounts. This hands-on approach is designed to equip students with practical knowledge that can lead to increased financial independence and security in their future endeavors. Joanna Sanborn, TPZ's Vice President of Post-Secondary Pathways, notes that this program is crucial for helping students build skills necessary for post-secondary success, demonstrating the commitment of Citizens Community Bancorp MD to fostering a more financially literate generation.

Mark Thompson, Regional Market Executive at Citizens, emphasizes the importance of financial literacy as a foundation for lifelong independence. Citizens plans to extend its outreach by offering financial literacy classes for family members of TPZ students, starting with a program aimed at fathers. This initiative reflects a comprehensive strategy to not only educate students but also empower their families, thus enhancing the overall economic mobility of the community. Through its partnership with TPZ and EmpowerED, Citizens Community Bancorp MD is making significant strides in creating sustainable financial futures for Boston's youth, promoting a culture of financial responsibility that can resonate through generations.

In addition to its educational initiatives, Citizens Community Bancorp MD's involvement in events like the FastForge Hackathon showcases its commitment to community engagement. By witnessing the creativity and determination of students first-hand, the bank strengthens its ties with the local community while fostering an environment where young minds can thrive. As the program unfolds, the collaboration is expected to yield tangible benefits not only for the participating students but also for the broader community, contributing to a more financially savvy populace.