First Federal Lakewood Announces Participation in the EVERFI Financial Literacy Bee to Support Youth Financial Education
April 01, 2021 | Lakewood, OH
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March 30, 2021 (Lakewood, Ohio) -- First Federal Lakewood today announced that it is sponsoring the EVERFI Financial Literacy Bee, taking place April 1-15, 2021. The EVERFI Financial Literacy Bee is a nationwide financial literacy challenge for high school students.
As families across the country are struggling financially in the wake of the pandemic, from unemployment to career shifts to a reduction in income, the EVERFI Financial Literacy Bee provides an opportunity for students to learn the critical importance of saving and budgeting for short-term and long-term financial goals.
The virtual challenge, created by social impact education innovator EVERFI, and supported by leading financial institutions nationwide, features four short digital lessons followed by a capstone essay contest in which students share a short-term or long-term savings goal and outline their plan to achieve that goal. Winners of the EVERFI Financial Literacy Bee will receive a total of $20,000 in college scholarships.
First Federal Lakewood will also be offering an additional prize for local entries. Two essays that are submitted locally will be selected to receive a $500 prize.
“At First Federal Lakewood, we've been deeply rooted in the communities we serve for over 85 years. We've been fortunate to be able to drive impactful change in our communities, and we are especially committed to increasing financial literacy," said Chalana Williams, SVP, Chief Community Development Officer. "We are proud to be supporting parents and students through the Financial Literacy Bee and hope it will help drive dinner-table conversations about crucial financial topics."
By competing in the challenge, participating students will gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future.
Topics include how to save, set financial goals, budget, and invest.
“The pandemic has shone a bright light on the financial vulnerability of most Americans, with 40 percent of American consumers reporting that they had trouble paying at least one bill or expense in 2020,” said Ray Martinez, co-founder and president, EVERFI. “We’ve always been committed to helping students increase their financial literacy, and during this historic time, we are also working to help parents feel more comfortable having dinner-table conversations about money. The Financial Literacy Bee is a fun way for students to learn important strategies to increase savings.”
To learn more about the EVERFI Financial Literacy Bee, visit FFL.net/finbee.
About First Federal Lakewood
First Federal Lakewood is the largest depositor owned community bank headquarted in Ohio. Being deeply rooted in their communities, they make decisions to benefit the local economy, their employees, and their customers. They have proudly been a part of the communities they serve for over 85 years, and are committed to meeting their customers needs today and into the future. Want to learn more about First Federal Lakewood? Visit FFL.net/whyus or follow us on social!
About EVERFI, Inc.
EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 41 million learners globally. In 2020, the company was recognized as one of the World’s Most Innovative Companies by Fast Company and was featured on Fortune Magazine’s Impact 20 list. 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, as well as Advance, Rethink Education, Rethink Impact, The Rise Fund, and TPG Growth. To learn more about EVERFI and how you can #answerthecall please visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.