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.
About EverFi
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.
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SOURCE Union Bankshares Corporation