Submitted article
Financial literacy for high school students has been a hot topic for many years. Just recently, the subject has become a mandated requirement for graduating seniors in the State of Ohio. Thanks to a partnership with First Federal Community Bank, Bucyrus High School seniors are able to fulfill the requirement through the Everfi Financial Literacy Program.
First Federal Community Bank serves as the underwriter for the Everfi program. At BHS, the program is known as First Federal Financial Scholars.
“As a community bank, we saw this as an opportunity to ‘pay it forward’”, First Federal Vice President and Board of Education President Brad Murtiff said. “The schools and the local businesses are pillars of our communities, and by providing financial literacy to students who will soon enter the workforce, we believe this program not only helps in their decision making, but also enhances the strength of the businesses in the community.”
The First Federal Financial Scholars program is taught in Mr. Jason Nickler’s senior Government classes. The program is self-paced, which allows the students to move ahead or repeat information until they have a mastery of the lessons.
“I wish there was a program like this when I was in school because I had zero understanding of the stock market, investment opportunities or how loans worked when I graduated high school,” Nickler said. “This program allows the students to get a basic understanding of some serious financial situations, and helps them differentiate between poor choices and good choices when they are faced with opportunities in investing, saving money, borrowing money, paying taxes and other financial matters.”
Throughout the school year, guest speakers visit the class to discuss financial literacy and the importance of making sound financial decisions. During the 2013-2014 school year, Treasurer of State Josh Mandel visited the class and discussed a myriad of financial topics to help relate the program’s materials to the real world.
“This program has allowed the students to identify areas of financial literacy where they have strong background knowledge, and areas where they can learn more as they move forward in their lives and need to tackle real world money situations,” Nickler said. “I’ve seen some students realize how much thought and risk goes into borrowing money and how making a budget that pays you first is very important.”
Prior to underwriting the program, First Federal executives and local superintendents met with representatives from Everfi. The educators were excited about the program because it fulfilled a mandated requirement at no cost to their districts, and it allowed students to learn through online interactive coursework.
“We underwrote the program halfway through the 2012-2013 school year, and rolled it out to the districts as a pilot program,” Murtiff said. “Teachers utilized the program in the spring, and full implementation has taken place during the 2013-2014 school year.”
Murtiff believes the State’s goal in mandating this type of education is to assist young people in having baseline knowledge of important financial decisions they will soon be facing. The First Federal Financial Scholars program teaches students about savings and retirement vehicles, renting vs. owning, the importance of credit scores and how decisions made now can have a long lasting impact.
“First Federal is very proud of its association with all of the schools in our markets, and we feel very strongly about the importance of providing this type of education to the students,” Murtiff said. “The ultimate goal is that students will gain a sense of confidence in these areas, and at minimum, they will think of the lessons learned before making financial decisions.”
“I am very grateful that First Federal Community Bank stepped to the plate to assist our school district in fulfilling this required mandate for our graduating seniors,” Bucyrus Superintendent Kevin Kimmel said. “It has been said that it takes a village to raise a child, and the Bucyrus community is very fortunate to have First Federal Community Bank helping its children learn how to make good financial decisions through the First Federal Financial Scholars program.”
For more information about the First Federal Financial Scholars program, contact Jason Nickler at 419-562-7721 or email jnickler@bucyrusschools.org, or contact Brad Murtiff at 419-562-7055 or email bmurtiff@ffcb.com.