Canvas Credit Union to sponsor EVERFI National Financial Bee in support of Youth Financial Education
A new, virtual challenge, taking place during Financial Literacy Month, equips students with money management skills and encourages remote learning while social distancing
DENVER, CO (April 17, 2020) — Canvas Credit Union announced today that it is sponsoring the EVERFI National Financial Bee, taking place April 20-24, 2020. The National Financial Bee is a first-of-its-kind nationwide virtual financial literacy challenge for students in 7th-10th grade, resulting in three students each winning a scholarship up to $10,000.
As families across the country adapt to the challenges of balancing work, childcare, and homeschooling, amidst widespread school closures driven by the COVID-19 pandemic, the National Financial Bee provides an opportunity for students to have some fun and learn critical financial concepts at home while social distancing.
The challenge, created by social impact and education innovator, EVERFI, has garnered support of leading financial institutions nationwide, including Canvas. It features a short digital lesson over five days, and ends with a capstone essay contest in which students will share a financial dream of theirs and how they plan to get there. Winners of the National Financial Bee will receive a total of $20,000 in college scholarships; first prize winning $10,000, second prize $6,000, and third prize $4,000. In addition, Canvas Credit Union will be recognizing one exceptional Colorado student with a separate award of $2,500.
“We are all very passionate about preparing students for the financial responsibilities and realities that the future will bring, and steering them towards choices that will help them to make a better life for themselves,” said Steve Ferrero, Chief Community Engagement Officer for Canvas. “During Financial Literacy Month, and especially during this time of disruption and uncertainty, we are proud to be playing a role in helping parents and students in our communities plan for their financial future and find ways to pay for college through our support of the National Financial Bee.”
During each day of 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 spending and saving, credit and debt, employment and income, investing, and insurance.
“Across the country, families are facing unprecedented uncertainties and challenges. Parents are dealing with the loss of income or are adjusting to working from home, while students are trying to continue their studies outside of the classroom,” said Ray Martinez, founder, and president, of 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 secure — and help students stay engaged. The National Financial Bee is a fun way for students to compete with their peers while social distancing.”
In addition to supporting the National Financial Bee, Canvas Credit Union works with EVERFI to provide online, financial education for students and adults in communities throughout Colorado.
To learn more about the National Financial Bee, or to sign up to participate, visit our Canvas EVERFI page here.
About Canvas Credit Union
Canvas Credit Union is a safe and insured financial institution with over $4.3 billion in assets and more than 295,000 members. Canvas provides a full array of financial products and services, including savings, checking, loans, mortgages, and online and mobile banking options. Serving Colorado communities for more than 85 years, Canvas currently has 34 branches and is well recognized for its people, its heart, and its commitment to community.
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. Recognized as one of the World’s Most Innovative Companies by Fast Company in 2020, EVERFI powers community engagement in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges, and universities, and some of the largest corporations to leverage insights and connections to drive impact. 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 and Rethink Impact. To learn more about EVERFI, visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.