RICHMOND, Va., Nov. 5, 2015 /PRNewswire/ -- Today Union Bank & Trust, Genworth Foundation, and Virginia State Superintendent Dr. Steven Staples honored Virginia districts and teachers who have led robust efforts to improve the financial capability of young Virginians over the past 5 years through the My Money, My Future program. Union and Genworth Foundation have partnered with leading education technology company EverFi to bring this interactive, web-based financial management program to more than 200,000 students since the program's inception in 2010.
"From student loans to the basics of investing, today's financial landscape is difficult to navigate without the right roadmap," said G. William Beale, chief executive officer of Union Bank & Trust. "Union is proud to be an integral player in the success of Virginia communities by providing this online financial education program that is utilized by 94% of high schools in the state."
The "5 Years in Finance" program data released at today's event announced that the 206,226 students reached through My Money, My Future have completed 792,427 hours of learning. Students' knowledge of key financial topics rose by an average 53% based on pre- and post-assessment scores. According to post-assessment surveys, there is an 81% increase in the number of students who now feel prepared to apply for financial aid.
"The moment Virginia created a state mandate for a Personal Finance course, Genworth Foundation chose to partner with EverFi to ensure teachers have access to the best financial education resources," said Michael Laming, senior vice president, Human Resources, and chair of the Genworth Foundation. "It is critical that students understand important aspects of personal finance, such as what a credit score means and how to save for college, and this program is empowering them with the skills to put them on a path to financial success."
Union and Genworth Foundation have partnered with EverFi to bring My Money, My Future to local students at no cost to the schools or the taxpayer. The eight-hour web-based program uses the latest in new media technology to bring complex financial concepts to life for today's digital generation. The platform uniquely tracks the progress and performance of every student and provides students who successfully complete the course with certification in financial literacy, a valuable mark of distinction on college applications and resumes. In 2015, the Consumer Financial Protection Bureau (CFPB) highlighted EverFi's schools-based financial education programs in a new report on Advancing K-12 Financial Education: A Guide for Policymakers.
"It is important to our community and economy that we provide a well-rounded financial literacy course for our students", said Barbara Smith, Director of Career and Technical Education for Richmond Public Schools. "My Money, My Future gives students the opportunity to extend their learning beyond the course competencies. Richmond Public School is proud of our educators who teach financial literacy and encourage our students to be fiscally responsible for success in their career and achieve their life-long goals."
ABOUT UNION BANKSHARES CORPORATION
Headquartered in Richmond, Virginia, Union Bankshares Corporation (NASDAQ: UBSH), is the holding company for Union Bank & Trust, which has 124 branches and approximately 200 ATMs throughout Virginia. Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.
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.
SOURCE Union Bankshares Corporation