The Adirondack Trust Co. was honored at the third annual Financial Capability Innovation Awards presented by a leading technology innovator, EverFi Inc.
Presented at Nasdaq Marketsite in New York City, the award recognizes the company’s “significant efforts to improve the financial capability of local teenagers through unique online learning initiatives,” officials said in a new release.
Adirondack Trust has partnered with EverFi to bring the EverFi and Vault Financial Literacy Courses to local students at no cost to schools or taxpayers and has reached over 2,000 students since the 2014-2015 school year. The web-based program uses the latest in simulation and gaming technologies to bring complex financial concepts to life for today’s digital generation, officials said.
Charles V. Wait Jr., bank executive vice president, said the company “is honored to receive the Financial Capability Innovation Award from EverFi and Nasdaq. As a community bank, we feel it is important to encourage students in our local communities to learn about financial education and we are proud to be able to provide it through the EverFi program.”
He said he is committed to providing students with the skills and knowledge needed to successfully navigate the increasingly complex financial world.
“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.”
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.
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. The platform tracks the progress and performance of every student.
Since partnering with EverFi, Adirondack Trust Co. has been involved with visiting classes who are actively using the program to discuss financial fundamentals and how they will apply to the students now and in the future. As students complete the courses, the bank also provides certificates of completion during a brief ceremony.