Southland Credit Union 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 up to $20,000 in college scholarships.
Additionally, Southland Credit Union will sponsor a bonus $1,000 scholarship for Los Angeles County and Orange County students who compete in the national contest.
“Financial wellness is a key component in achieving a contented and fulfilling life,” said Thomas Lent, Southland Credit Union President & CEO. “Southland is committed to promoting greater financial wellbeing for our Members and our communities, and we believe that starts with a solid foundation of meaningful financial education. We are proud to work with EVERFI on this initiative to support our local students.”
By competing in the challenge, participating students will gain new skills to create a personalized financial decision-making framework 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.”
In addition to supporting the EVERFI Financial Literacy Bee, Southland Credit Union works with EVERFI to provide K-12 schools with financial education courses in schools across Los Angeles and Orange County.
To learn more about the EVERFI Financial Literacy Bee, visit SouthlandCU.org/Bee.