Partnership Brings Financial Literacy to Richmond-Area Students 

by Scott  Yoon Wednesday, September 22, 2010
RICHMOND, VA – September 22, 2010 – Financial Advice for Students Today (“FAST”) announced today that it has partnered with Communities in Schools of Richmond (“CIS Richmond”) and the Urban Financial Services Coalition (“UFSC”) to increase financial literacy in Richmond-area high schools. FAST will provide the curriculum, which will be incorporated into an existing Business/Marketing course, and will be taught by teachers at select high schools as well as volunteers from UFSC who have been trained by FAST.

“Financial literacy is a skill that every financially independent adult should master, but most students today are not adequately educated on the topic. Through our partnership with CIS Richmond and UFSC, we hope to help fill this educational gap by preparing students to make wise financial decisions at all stages of their lives,” said Joseph Johnson, a Director at FAST.

Surprisingly, only 34% of parents have taught their teen how to balance a checkbook, and even fewer, 29%, have explained how credit card interest and fees work, according to Charles Schwab's 2008 "Parents & Money" survey. Moreover, one-third of the students (33.8%) said that they were either unsure or unprepared to manage their own banking and personal finances, as reported in Capital One’s 2009 survey of high school seniors.

“There is an urgent need to increase students’ financial literacy, and the FAST curriculum effectively empowers students to be confident when dealing with financial matters,” said Dr. Ajai Blue-Saunders, the Program Director for Secondary Schools at CIS Richmond. “CIS Richmond supports FAST’s mission to provide a financial education to today’s youth, and is excited to partner with FAST to achieve this goal in Richmond area schools.”

“UFSC is excited to partner with FAST and CIS Richmond to provide financial education to Richmond area students,” said Nicole Grant, a Director at Urban Financial Services Coalition. “We hope to expand this financial literacy program to include additional schools in the Richmond-area, as well as schools in other geographic regions in the U.S., by way of sponsorships from banks, companies and other foundations who share the same goal of increasing financial literacy in the U.S.”

Schools participating in this initiative include John Marshall High School, George Wythe High School and Thomas Jefferson High School, where a total of approximately 100 students will have the chance to receive this financial education.

About Financial Advice for Students Today
Financial Advice for Students Today (FAST), established in 2009 as a proactive response to the recent financial crisis, is an education company dedicated to improving the lives of tomorrow’s adults by increasing the financial literacy of today’s youth. Through partnerships with not-for-profit organizations, school districts, and community leaders, FAST aims to prepare students to make independent and wise financial decisions by filling the current educational gap with its financial literacy curriculum. FAST provides partners with materials that are user-friendly for both students and teachers and cover topics including credit, saving, budgeting, investing and paying for college. For more information about FAST, please visit www.fastforstudents.com.

About Communities In Schools
Communities In Schools surrounds students with a community of support, empowering them to stay in school and achieve in life. Through a school-based coordinator, Communities In Schools connects students and their families to critical community resources, tailored to local needs. Working in more than 3,200 schools, in the most challenged communities, in 26 states, and the District of Columbia, Communities In Schools serves nearly 1.4 million young people and their families every year. It has become the nation's leading dropout prevention organization, and the only one proven to increase graduation rates. Visit Communities in Schools’ website at www.communitiesinschools.org.

About Urban Financial Services Coalition
UFSC, established in 1974, is an organization of minority professionals in the financial services industry and related fields. UFSC, formerly known as the National Association of Urban Bankers (NAUB), is dedicated to promoting the personal and professional development of its members and improving the financial condition of ethnically and culturally diverse communities through education, home ownership and local economic development. UFSC currently has 2000 affiliates and 23 chapters throughout the U.S. To learn more about UFSC, visit www.ufscnet.org.

Contact Information

Communities in Schools of Richmond
http://www.cisofrichmond.org/
Dr. Ajai Blue-Saunders
Phone: (804) 358-1247 x 202
Email: ablue@cisofrichmond.org

Urban Financial Services Coalition
http://www.ufscrichmond.org
Nicole Grant
Phone: (804) 237-9347
Email: nicole.chandler-grant@ufscrichmond.org

Financial Advice for Students Today
http://www.fastforstudents.com/
Joseph Johnson
Phone: (646) 895-0121
Email: joe@fastforstudents.com

0    submitted by Scott  Yoon
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