RICHMOND, Va., Aug. 12, 2014 /PRNewswire/ -- The Genworth Foundation's My Money, My FutureSM financial education program has reached more than 100,000 students since its inception in 2010. Genworth has partnered with leading education technology company EverFi, Inc. to bring this interactive, web-based financial management program to more than 300 schools across Virginia and in Wake County, North Carolina – all at no cost to schools or taxpayers. The program uses the latest in new media technology – simulations, avatars, gaming and adaptive-pathing – to bring complex financial concepts to life for today's digital generation.
"As the financial landscape continues to become more complex, it's now more important than ever for young people to seek out financial education," said Genworth Foundation Board Chairman Leon Roday. "Recent Genworth research shows that individuals believe there's a correlation between financial education and saving for retirement and that millennials, having seen their parents struggle through the financial crisis, are the age group most motivated to save their money. By utilizing the available tools and resources, young people today can proactively plan to ensure they have successful financial future."
Genworth has also partnered with 13 local financial institutions in Virginia that co-sponsor the program in the communities that they serve.
"The My Money, My Future program has doubled in size every year for the past four years and is now used by 85 percent of Virginia's public high schools," said EverFi Chief Executive Officer Tom Davidson. "Genworth is a true community partner that has built coalitions with local financial institutions to increase local community involvement. Few companies have moved this fast with this much measurable impact across such a large area. The Commonwealth is stronger because of Genworth's commitment here."
The need for financial knowledge extends into adulthood with studies showing that understanding basic financial concepts is a predictor of a person's ability to save and make other important financial decisions, such as planning for retirement. My Money, My Future provides educators with an effective tool to engage their students and builds a solid foundation for good financial decision making and money management now and in the future
"My Money, My Future teaches personal finance in a variety of methods, including hands on, reading and auditory. Students are actively engaged in the modules," said Janice Findley, a teacher at Chantilly High School in Chantilly, Virginia. "The classroom is completely quiet when students are using My Money My Future. It is awesome. My Money My Future is synonymous with actively engaged learning."
The high school course offers more than six hours of programming and ten units covering a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k's and other critical concepts that meet national financial literacy standards. The platform uniquely tracks the progress and performance of every student and provides students who successfully complete the course with a certification in financial literacy.
EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K-12 and college students in the critical skills they need for life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America's leading CEOs and venture capital firms are EverFi investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, Rethink Education, New Enterprise Associates, Inc. (NEA), and Tomorrow Ventures (the investment arm of Google Chairman Eric Schmidt). Learn more at www.everfi.com.
About the Genworth Foundation
Established in 2005, the Genworth Foundation is the charitable giving arm of Genworth Financial. The Foundation is committed to helping build strong communities around the world. Each year, the Foundation makes direct investments in the community through charitable contributions and matching gifts. For more about Genworth in the community, visit genworth.com/community.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, and financial protection coverages -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com.
SOURCE Genworth Financial, Inc.