Your bank or credit union can make a major impact on how the next generation manages its money–and earn CRA credit at the same time! Providing Financial Literacy programs to local LMI schools is an accepted program.
Contact Our Bank/CU/CRA Specialists!Banks can meet Community Reinvestment Act (CRA) goals by sponsoring financial literacy programs in schools. PersonalFinanceLab is one such program. It provides students with hands-on learning with its banking, budgeting, managing credit, and managing cashflow simulations–all with built-in personal finance lessons. According to the OCC, these activities qualify as CRA-eligible, helping you support schools in low-to-moderate-income (LMI) areas while making a measurable impact on financial education.
Need volunteer service hours? Your team can choose from a variety of our easy-to-teach personal finance topics such as Debit vs Credit cards, Needs vs Wants, Fixed vs Variable Expenses, Buying Your First Car, and more.
Learn more about CRA-compliant sponsorship opportunities today. If you want to work with a particular school or teacher, you can sponsor the class directly. Your logo will appear for all students registered to that class; and will be visible from the student dashboard when they login and from all secondary pages on site. You can sponsor additional custom lessons for students to complete along with our 300+ State and National standards aligned learning materials.
We have Banking CRA and Credit Union specialists standing by to help you.
Here’s the proof that our platform does what it is supposed to do! We measured student progress using a 15-question Pre & Post Test covering Savings, Income, Credit, and Investing. Check out the impressive gains from our Fall 2024 students below.
Students improved their investing score by 191%
Students improved their credit knowledge by 118%
Savings & Income Score
Improvement
Credit Score
Improvement
Investing Score
Improvement
of students saved at least $1,000 in their emergency savings fund
pop quizzes taken
questions answered
trades made in 2023
classes created
student registrations
teachers
of teachers who used the Stock Game reported they were high quality programs
of students felt more prepared to face the challenges of adult life since using PersonalFinanceLab
the median ending saving balance for 2023
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Support your local schools with PersonalFinanceLab’s financial literacy programs and equip students with real-world banking, budgeting, credit management, and investing skills. Our platform offers interactive tools, including a personal banking and budgeting game, an investing simulation and dozens of personal finance lessons tailored for K-12 and high school classes.
Sponsoring a school helps you make a lasting impact in education while aligning with your banking community service initiatives. Discover how your bank can earn CRA credit by sponsoring this financial literacy program. Full reporting of student activity included!
Learn More About PersonalFinanceLab
Teachers get support bringing financial literacy concepts to life.
Students learn from their mistakes and develop smart money habits.
Banks & Credit Unions have full reporting on the effectiveness of their program.
Join Bank of America and TD Bank by white labeling our platform to make it available to your customers and community. Join many other financial institutions sponsoring their local school districts to earn CRA credit.
Your organization may have a mandate to support local initiatives or community programs. Get your own branded site with your own unique branded homepage, dedicated messaging, sponsorship placements and personalized onboarding for you and your clients.
The Community Reinvestment Act (CRA) encourages financial institutions to meet the credit needs of their communities; specifically, they must primarily benefit the low- and moderate-income (LMI) individuals and neighborhoods.
Millions of students in Low-to-moderate income communities don’t have access to engaging, real-world financial education. Programs like PersonalFinanceLab bridge the gap by connecting financial institutions with local schools–giving banks the CRA credits they need and exclusive visibility in their community.
The Community Reinvestment Act (CRA) encourages banks to help low-income and moderate-income (aka, LMI) communities by making loans, investments and providing services. CRA-eligible activities revitalize neighborhoods, improve community facilities, and promoting financial literacy are all specifically listed.
A CRA-eligible services must have a primary purpose of community development and be related to some extent to financial services. And they need to be offered to primarily low and moderate income areas.
Schedule a call with one of our Bank CRA & Credit Union specialists to discover
what sponsorship package fits best for your financial institution,
and your strategic CRA credit goals.
To talk to one of our Bank CRA & Credit Union specialists of how we can match schools that want our access to our financial literacy platform to your financial institution’s CRA credit needs, please click the button below to fill out a short form and we will contact you ASAP. Please leave your phone number so we can make sure we can reach you. Let’s get the conversation started!
Contact Our Bank CRA & Credit Union Specialists!