Local students are getting a free education in how to manage their money. Roselle Savings Bank is working with Banzai, a national award-winning financial literacy program, to make the curriculum available to 6 schools in the Roselle, Bridgewater, Elizabeth, and Linden areas completely free.
"Banzai is a web-based financial literacy program. Kids have their own bank accounts, and they work through assignments that are based on real life," Morgan Vandagriff, co-founder of Banzai, said. "But because Roselle Savings Bank is sponsoring it, local schools get it for free. More than ever, it's important that kids develop sound financial skills to prepare them for the real world. Roselle Savings Bank realizes that, and they're doing something about it."
"It is a great opportunity for us to be able to provide resources that promote financial literacy to the next generation by encouraging banks and schools to work together to improve the financial skills and experiences of youth,” says Roselle Savings Bank President and Chief Executive Officer, Detlef H. Felschow.
Banzai is an interactive, online program supplemented by printed workbooks which aligns with state curriculum requirements for personal finance education. It has become the largest program of its kind, servicing more than 35,000 teachers and available in all 50 states.
Roselle Savings Bank has offered time, money, industry experience, and a variety of bank resources to help localschools teach personal finance in the classroom. Students using the program are exposed to real-life scenarios where they learn to pay bills and balance a budget – but it’s not always easy. Students must learn to manage unexpected expenses such as parking tickets, interest charges and overdraft fees. The educational program also introduces students to auto loans, bank statements, entertainment costs, savings and more. “We are excited to announce that as of February 2018, we have equipped approximately 480 students with the tools needed to close the financial literacy gap that will lead to them successfully navigating their pathway to building wealth” says Roselle Savings Bank President and Chief Executive Officer, Detlef H. Felschow.
“Too often students get out of school and they just aren't ready for the financial roller coasters life can give us,” Vandagriff said. “Banzai teaches students to navigate those twists and turns and come out on top. We're excited to work with Roselle Savings Bank to improve financial literacy in local schools.”
“This April, in celebration of Financial Literacy Month, I encourage teachers interested in using the Banzai program visit rosellesavings.teachbanzai.com or call 888-8-BANZAI,” reminds Felschow.
ABOUT ROSELLE SAVINGS BANK
Roselle Savings Bank originally opened its doors in May of 1889 as the Roselle Building and Loan Association, serving what is now the Borough of Roselle and the surrounding communities. The bank, which specializes in banking products and services for individuals and families, now serves residents in Union, Hunterdon, Somerset, Essex, Middlesex, Morris, and Warren counties. Branches are located in Roselle, Bernardsville, High Bridge, and Cranford. The bank is an Equal Opportunity Lender and a member of the FDIC. Call 908-245-1885 or visit www.rosellesavings.com for more information.
Roselle Savings Bank is an Equal Opportunity Lender and a member of the FDIC. For more information visit www.rosellesavings.com.