CHICAGO, Nov. 20, 2015 /PRNewswire/ -- More than 400 volunteers from The PrivateBank visited schools in Chicago, Detroit, Milwaukee and St. Louis to teach important lessons in financial literacy as part of its fifth-annual All-Team Volunteer Day.
A key part of The PrivateBank mission is to help build strong communities. Recognizing the important role good financial skills play in helping individuals and families succeed, The PrivateBank is committed to improving financial literacy in all the communities it serves.
A report released earlier this year by America Saves, a campaign managed by the nonprofit Consumer Federation of America, based on focus groups in Chicago, Miami and Washington, D.C., shows low and moderate income students know they should save money, but they do not know how to set or achieve those goals.
"The PrivateBank focuses its annual volunteer event on bringing easy-to-understand financial literacy lessons to the classroom," said Larry D. Richman, President and Chief Executive Officer, The PrivateBank. "We want to help these students learn smart money habits while they are young so they can make good financial decisions as adults. The work we do in the classrooms is a complement to the programs we provide to adults, such as knowing the meaning of your credit score and first-time homebuyer education."
In Chicago, The PrivateBank partnered with the Big Shoulders Fund for the fourth year in a row to bring the Money Savvy Generation program to students. Volunteers taught the financial education curriculum to students in 19 schools. Similar events also took place in Detroit, Milwaukee and St. Louis.
"We appreciate The PrivateBank's efforts to help us ensure our students are ready for future success," said Joshua Hale, President and Chief Executive Officer, Big Shoulders Fund. "Over the years, we have seen our students really engage in these lessons both with The PrivateBank volunteers and in the ongoing curriculum this program provides us through the rest of the year."
About The PrivateBank
The PrivateBank is a part of PrivateBancorp, Inc., and delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of September 30, 2015, the company had 35 offices in 12 states and $16.9 billion in assets. The company's website is www.theprivatebank.com.
About Big Shoulders Fund
Big Shoulders Fund was founded in 1986 by business leaders to provide assistance for the inner-city Catholic schools in Chicago. To date, Big Shoulders Fund has raised nearly $270 million, which has been used to help defray tuition and operating costs at 67 inner-city elementary and 15 secondary schools, and to assist with capital and other program enhancements at these schools. Eighty-six percent of students that graduate with Big Shoulders renewable scholarships enroll in college the following year, ahead of city, state and national averages.
The Fund is a private, 501(c) (3) non-profit entity that receives and distributes privately raised contributions to inner-city Catholic schools with demonstrated need. For more information, visit www.bigshouldersfund.org or call 312-751-8337.
About Money Savvy Generation
Money Savvy Generation is the leader in financial education for elementary school students. Their award-winning curricula and products are used globally in multiple languages by teachers, students, parents and others interested in financial literacy for youth. For more information, please visit the Money Savvy Generation web site at www.msgen.com.
Participating Chicago Schools:
St. Florian, 13110 S. Baltimore
Sacred Heart, 2926 E. 96th St
St. Ethelreda, 8734 S. Paulina
St. Bruno, 4839 S. Harding
St. Phillip Neri, 2110 E. 72nd St.
St. Sabina, 7801 S. Troop
St. Thomas the Apostle, 5467 S. Woodlawn
Our Lady of Grace, 2446 N. Ridgeway
St. Catherine/St. Lucy, 27 Washington, Oak Park
Our Lady of Tepayac, 2235 S. Albany
Santa Lucia, 3017 S. Wells
St. Terese, 247 W. 23rd Street
St. Helen, 2347 W. Augusta
Immaculate Conception, 8739 S. Exchange
St. Margaret of Scotland, 9833 S. Troop
St. Gall, 5515 S. Sawyer
St. Malachy, 2252 W. Washington Blvd.
Queen of the Universe, 7130 S. Hamlin
Academy of St. Benedict the African, 6020 S. Laflin
SOURCE PrivateBancorp, Inc.