December 1, 2014
Community Bank of the Chesapeake was recently recognized by the Maryland Banker's Association's Financial Education Awards for its efforts to promote financial literacy in schools. The Bank received a second place recognition in the Young Adults Category for its Financial Scholars Program, powered by EverFi, which is currently available in 13 high schools within the Bank's service area.
"Encouraging financial literacy is one of our goals at Community Bank, and we are delighted to accept this award," said Hillary Theriault, Senior Vice President, Director of Marketing for Community Bank of the Chesapeake. "Our Financial Scholars Program gives high school students the opportunity to build a solid understanding of personal finance, which we feel is essential as they prepare to become financially independent adults."
Launched by Community Bank in 2011, the Financial Scholars Program is a 10-unit course that offers six hours of programming aimed at teaching, testing and certifying students in a variety of financial topics such as credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401(k)s and other critical concepts. The system tracks the progress and score of every student and provides those who successfully complete the course with certification in financial literacy.
The Financial Scholars Program is currently operated in high schools throughout Calvert, Charles and St. Mary's counties, and fulfills the financial literacy requirement for high school graduation required by the State of Maryland. Since the program's inception, it has reached over 5,800 students.
The Maryland Banker's Association's Financial Education Awards recognize the outstanding consumer education initiatives taking place across Maryland. Awards are given in various categories for programs and activities that reinforce financial education concepts such as developing good savings, budgeting techniques, money management skills, establishing and managing credit, understanding mortgage and consumer lending products and a variety of consumer protection practices. These prestigious awards, bestowed by the Financial Education Council, recognize the outstanding efforts of the MBA's Charter Members who are actively engaged in consumer education outreach.
EverFi is building and operating the nation's largest network for K-12 online education in off-curriculum, but highly valuable content areas such as financial literacy, student loan management and other key life skills for the 21st century student. EverFi's award-winning platform is designed to provide a highly engaging experience for students and features the latest technology and instructional design, including rich media, high definition video, 3D simulations and social networking. EverFi is powering a national movement that enables corporations and foundations to partner with schools and colleges to use the EverFi platform to deliver a measurable and lifelong impact on students.
About Community Bank of the Chesapeake
Headquartered in Waldorf, Maryland, Community Bank of the Chesapeake is a full-service commercial bank, with assets over $1 billion. Through its 12 banking centers and four dedicated commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses. Community Bank of the Chesapeake is a wholly owned subsidiary of The Community Financial Corporation (NASDAQ: TCFC).