JACKSONVILLE, Fla.--(BUSINESS WIRE)--TIAA Bank announced today a three-year, $1.5 million commitment to empower students with the skills they need to make lifelong success possible. In addition, TIAA will contribute $3 million to make a lasting impact on financial literacy education.
In collaboration with EVERFI Inc., a leading education technology innovator, TIAA Bank will deliver critical financial education to 100 elementary and high schools in low-to-moderate income communities across the U.S. and Puerto Rico. TIAA Bank’s partnership with EVERFI ensures that the technology and lessons are available to schools and districts in these communities at no cost to teachers or taxpayers.
“TIAA Bank is committed to revitalizing neighborhoods and improving financial health,” said Joseph Hernandez, Community Reinvestment Officer of TIAA Bank. “We invest in education as part of our broader commitment to helping build stronger communities. We can’t wait to see what impact this program will have on our future leaders.”
The program, TIAA Bank Money Matters, features an interactive, digital learning platform specifically designed to introduce financial literacy skills in an easy-to-understand way for elementary and high school students. TIAA Bank Money Matters is broken down over several, gamified lessons that focus on foundational topics such as banking, saving, setting financial goals and budgeting.
TIAA Bank committed to bringing the program to schools in Puerto Rico following Hurricane Maria, a powerful Category 4 hurricane in 2017 that devastated Puerto Rico’s already ailing economy. The program is one of TIAA Bank’s first commitments to building a strong foundation and driving financial success to elementary and high schools throughout the island.
"We're humbled by the opportunity to partner with organizations like TIAA Bank. The recent expansion of their K12 program underscores its commitment to help lift up and serve local communities,” said Ray Martinez, EVERFI President, Financial Education. “I believe that TIAA Bank's program will have a particularly powerful impact in Puerto Rico, where classrooms and communities are still recovering from the devastation of Hurricane Maria. We're looking forward to deepening our relationship with TIAA Bank as we continue to improve the financial capability of students, regardless of socioeconomic status or geography, at scale.”
TIAA Bank’s commitment to meeting community needs through the Community Reinvestment Act allows the bank to focus on financial education. TIAA Bank is proud to support the work of youth-focused groups and organizations across the nation that understand and address the financial challenges students face in communities throughout the county. To learn more visit TIAABank.com/community.
About TIAA Bank
As a part of TIAA’s Retail & Institutional Financial Services business, TIAA Bank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. More information on TIAA Bank can be found at TIAABank.com.
About EVERFI
EVERFI is the leading education technology company that provides learners of all ages education for the real world through innovative and scalable digital learning. EVERFI powers community focused financial education for 750 financial institutions across the country. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) subscription model and has certified over 19 million learners in critical skill areas. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, TPG Growth, The Rise Fund, Advance Publications, and Rethink Education, and Rethink Impact. The EVERFI Education Network powers more than 4,300 partners in their education initiatives across all 50 states and Canada. Learn more at everfi.com.
TIAA Bank® is a division of TIAA, FSB.
©2018 TIAA, FSB.
17ECM6640.19. TIAA, FSB NMLS ID: 399805.
TIAA Bank, NMLS ID: 17ECM6640.19
