Local bank continues support for Financial Literacy education

Local bank continues support for Financial Literacy education
Posted on 05/06/2015

Financial literacy for high school students has been a hot topic for many years, and is now a mandated requirement for graduating seniors in the State of Ohio. Thanks to a partnership with First Federal Community Bank, Bucyrus High School seniors are able to fulfill the requirement through the Everfi Financial Literacy Program.

First Federal Community Bank serves as the underwriter for the Everfi program. At BHS, the program is known as First Federal Financial Scholars.

"As a community bank, we strongly believe it is our responsibility to 'pay it forward' for the next generation in our community", First Federal Vice President and Board of Education President Brad Murtiff said. "The schools and the local businesses are pillars of our communities, and by providing financial literacy to students who will soon enter the workforce, we believe this program not only helps in their decision making, but also enhances the strength of the businesses in the community."

The First Federal Financial Scholars program is taught in Mr. Jason Nickler's senior Government classes. The program is self-paced, which allows the students to move ahead or repeat information until they have a mastery of the lessons.

"This year, Everfi revamped many of the videos and examples to make them more relatable and age appropriate for high school students," Nickler said. "They also added a new interactive game where students can use the concepts from the units to make smart financial decisions at the high school, collegiate, and post collegiate levels of life."

The program is made up of nine units focused on different aspects of financial literacy. Each unit gives an overview of key terms and concepts, compares and contrasts the different ways to invest and save, and provides real world examples on how each unit theme can be optimized by young adults.

"This program allows students to identify areas of financial literacy where they have strong background knowledge, and areas where they can learn more as they move forward in their lives and need to tackle real world money situations," Nickler said. "I've seen students realize how much thought and risk goes into borrowing money and how making a budget that pays you first is very important."

The educational units of the First Federal Financial Scholars program include: savings, banking, payment types, credit scores, higher education, renting vs. owning, insurance and taxes, consumer protection and investing.

"First Federal is very proud of its association with all of the schools in our markets, and we feel very strongly about the importance of providing this type of education to the students," Murtiff said. "The ultimate goal is that students will gain a sense of confidence in these areas, and at minimum, they will think of the lessons learned before making financial decisions."

"I am very grateful that First Federal Community Bank stepped to the plate to assist our school district in fulfilling this required mandate for our graduating seniors," Bucyrus Superintendent Kevin Kimmel said. "It has been said that it takes a village to raise a child, and the Bucyrus community is very fortunate to have First Federal Community Bank helping its children learn how to make good financial decisions through the First Federal Financial Scholars program."

For more information about the First Federal Financial Scholars program, contact Jason Nickler at 419-562- 7721 or email jnickler@bucyrusschools.org, or contact Brad Murtiff at 419-562-7055 or email bmurtiff@ffcb.com.