City National Bank is expanding its Dollars + Sense financial literacy program to include a new digital curriculum, using new media technology such as simulations, avatars and gaming to bring complex financial concepts to life for today’s digital generation.
The expanded curriculum, unveiled last month at Compton High School as part of City National Bank’s $11-billion community reinvestment commitment, is designed to provide students in 40 Los Angeles-area high schools with the critical skills they need to make sound financial decisions.
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At the Compton High event, students tested their financial know-how and had the opportunity to meet and speak with City National Bank colleagues including Michael B. Cahill, executive vice president and general counsel.
“The work that we do with Dollars + Sense is incredibly important. I just can’t say enough about how helpful, fun and energizing this event was,” said Cahill, adding that students asked about planning for financial success and how to prepare for careers in banking.
The Compton High event was one of more than 15 financial literacy events that City National sponsored in five states during Financial Literacy Month in April. More than 100 bank colleagues participated in the events, logging over 650 hours and teaching more than 2,000 students financial literacy through Dollars + Sense, which first launched in 2009.
“I hope that as these students make financial decisions in their daily lives, they think back to these experiences,” said Jennifer Nickerson, head of community engagement for City National Bank.
The curriculum offers more than six hours of programming with 10 units in a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401(k)’s and other critical concepts that map to national financial literacy standards.
City National Bank and EverFi, a leading education technology company based in Washington, D.C., are bringing the interactive, web-based financial management program to schools that lack the resources to teach financial education to their students.
City National’s efforts to improve Americans’ financial capabilities have been recognized with two recent honors: The bank received a 2016 “Innovation in Financial Education” award in April from NASDAQ and EverFi and it was named a Corporate Social Responsibility “Company of the Week” in May by the Financial Services Roundtable.