WASHINGTON, May 9, 2014 /PRNewswire-USNewswire/ -- The United States Conference of Mayors' DollarWise Campaign announces its third annual summer youth jobs contest for the summer of 2014, and invites cities and their summer youth jobs programs to participate. Youth are encouraged to complete a set of 5 financial education modules with important information that will help them to save for their future. DollarWise has partnered with Bank of America to bring innovative and accessible video content from BetterMoneyHabits.com to serve as the contest curriculum. The 5 modules include information on: general better money habits, how to set a budget, credit and debit cards, how interest works, and easy ways to save money.
"Connecting young people to education and resources that lead to better financial decisions is vital to the long-term health of communities," said Kerry Sullivan, president of the Bank of America Charitable Foundation. "Partnering with the Mayors' DollarWise Campaign is a great opportunity to reach a significant number of young people as they manage their paychecks this summer and think about responsible spending and savings."
Upon completing each module, youth will be entered into a weekly raffle where three selected participants will win an iPad, Kindle, or an iPod Shuffle.
Raffles will be held every Friday at 5pm (ET) beginning June 27th, and ending July 25th. The direct link to register for the contest is: www.bedollarwise.org/syc. Youth can also register though the DollarWise website: www.bedollarwise.org. Please note that youth are able to complete all modules at any time.
In the 6th week, youth will also have the opportunity to win an iPad, Kindle, or iPod Shuffle by participating in the DollarWise Video Contest. Participants will be asked to submit a video via email or on the DollarWise Facebook page: (facebook.com/bedollarwise) to qualify. The video should highlight the youth's summer job experience and describe how the DollarWise contest helped them to manage their money and save for their future. All videos will be due by Friday, August 1st.
"When youth know how to spend their money wisely, they can begin to build a strong foundation for their future," said The U.S. Conference of Mayors CEO and Executive Director Tom Cochran. "The U.S. Conference of Mayors is pleased to support the DollarWise Summer Youth Jobs Contest for a third year, and offer youth in summer jobs the opportunity to be financially empowered."
Cities are encouraged to create their own contests based on the DollarWise online modules. In 2013, Baltimore and Wichita hosted their own citywide contests, in conjunction with the national DollarWise contest, to provide youth with further opportunities to save for their future. Wichita's program held additional raffles where winners received laptops and other prizes. In Baltimore, over 350 youth were provided with bank accounts and won an assortment of prizes for their participation.
Last year, over 1,500 youth participated in the financial education contest, more than double the number from 2012. Mayors were invited to present prizes to winning youth. The contest was run with assistance from the Mayors' Workforce Development Council whose members implement summer youth employment programs each year.
The Mayors' National DollarWise Campaign is dedicated to the idea that all Americans can benefit from increased access to financial education.
The DollarWise Summer Youth Campaign (SYC) is an initiative that encourages mayors to use their summer youth employment programs to deliver financial education to youth in their communities. The SYC's main goal is to incorporate a financial literacy education component into every summer youth employment program in the country by 2015.
The Mayors' DollarWise Campaign is made possible through a grant from the Bank of America Charitable Foundation.
About The United States Conference of Mayors
The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are 1,295 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors.
About the DollarWise Campaign
The DollarWise Campaign is the official financial literacy initiative of The United States Conference of Mayors and its Council on Metro Economies and the New American City. DollarWise encourages mayors and city staff to address the growing need for financial literacy in our nation's cities, and maintains the goal of including financial education into every summer youth job by 2015. To assist cities in their efforts, The DollarWise Campaign works to build partnerships with national organizations, including federal agencies, nonprofit groups, and corporations that offer technical support, curricula, and financial support. For more information on the DollarWise Campaign, please go to www.bedollarwise.org.
Bank of America Corporate Social Responsibility
Bank of America's commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.
SOURCE The U.S. Conference of Mayors