10th Annual “I Got Bank” Youth Financial Literacy Contest
Over the course of my banking career, I have been a part of many financial literacy programs aimed at serving the communities within the bank’s footprint. However, the FinLit initiatives that I found most valuable were the ones focused on the youth. I believe that there life skills we should be taught at an early age that would add tremendous value to our lives. I have always felt that financial literacy was one of those things. As an advocate for teaching financial literacy to youth, I believe that financial literacy education should be a part of the K-12 curriculum as a specific class for each grade. By the time students graduate from high school, they should know how to make financial decisions that would set themselves up for success — amplifying their opportunity to live as unencumbered as possible.
Bankrate published a good story, “Why parents should start teaching their kids about money at an early age”, that I highly recommend. The writer shares that a rising number of graduates wish they would have learned about financial literacy in school. The author highlighted a survey done where a vast majority of the participants believed that “personal finance courses should be mandatory in high school”. Additionally, 84% of respondents agreed that high school didn’t prepare them to handle their money”. Until financial literacy is a part of primary and secondary school education, we should continue to lift organizations and banks who focus on this. That is why I am happy to see banks like OneUnited, focusing on youth financial literacy.
OneUnited Bank is in the 10th year of its contest to encourage financial literacy with students 8–12 of age across the country. What is new this year is that the bank is offering a free online book for kids. The free book “I Got Bank: What My Granddad Taught Me About Money” by bank president Teri Wiliams counts as a qualifying book for the contest. The bank said the inspiration to add this new element was the desire to “accommodate parents who must keep their kids inside (instead of running out to get a book) due to the COVID19 new normal of homeschooling millions of children”.
I reached out to OneUnited for comment on the success of the 2019 contest, their excitement for the 2020 competition, and their thoughts on how the Community Development Financial Institution (CDFI) will continue to be a leader in the decade to come in regards to educating the youth on financial literacy.
“The 9th annual I Got Bank Financial Literacy Contest generated the largest number of essays and art ever! We are very proud of all the participants and the winners, and we’re excited to see what our 2020 contestants create! We will always have financial literacy for youth as a cornerstone of our mission. We plan to work with organizations and artists to make financial literacy a core value of the Black community”, said Teri Williams, President & COO of OneUnited Bank. To enter the contest go to www.oneunited.com/book
Here are the links to the 3 part series announcing the winners of the 9th Annual “I Got Bank” Financial Literacy Contest.
ANNOUNCING OUR 2019 I GOT BANK CONTEST WINNERS (1 OF 3 PART SERIES)
ANNOUNCING OUR 2019 I GOT BANK CONTEST WINNERS (2 OF 3 PART SERIES)
ANNOUNCING OUR 2019 I GOT BANK CONTEST WINNERS (3 OF 3 PART SERIES)
OneUnited Bank’s 10th Annual “I Got Bank!” Financial Literacy Contest Press Release
About OneUnited Bank
OneUnited Bank is the premier bank for urban communities, the largest Black-owned bank, the first Black internet bank and a Community Development Financial Institution (CDFI). Its mission is to provide affordable financial services to support economic development in urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC insured bank and an equal housing lender.
