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Bank of Hawaii to Launch Online Financial Education Program at Central Middle School

Monday, June 18, 2018

HONOLULU, HAWAII

Bank of Hawaii announces a unique online financial education program available to eighth-graders at Central Middle School starting in August. To prepare for the digital financial program, approximately 50 BOH employees volunteered to unpack, set up and label 200 Chromebooks at Central Middle School during the week of June 18. The Chromebooks, donated by the Department of Education, now provides one computer for every two eighth-graders at CMS.

Bank of Hawaii partnered with EVERFI, an education technology company providing innovative digital learning, on the nine-week financial education program to empower students to build a solid financial foundation. Lessons cover the basics of budgeting and savings, as well as how to manage their money while in college and beyond.

According to the 2018 Survey of the States: Economic and Personal Finance Education in Our Nation’s Schools, only 17 states require high school students to take a class in personal finance. Hawaii is not one of them. In fact, there is no formal requirement for public schools to teach financial education as part of the state curriculum. Yet the evidence is clear that this skill and knowledge is necessary. In fact, WalletHub analyzed financial education programs and consumer habits across the U.S. and ranked Hawaii No. 41 in financial literacy. In the same survey, 40 percent of U.S. adults gave their personal finance knowledge a grade C or worse.

This digital financial literacy program will help young students understand money management and apply it for the long term. Age-appropriate lessons include real-life scenarios—such as how to understand a paycheck, file the FAFSA (Free Application for Federal Student Aid) form and buy a car—in interactive and animated modules that are relatable to students. Bank of Hawaii’s branch Market Managers will introduce each lesson plan at Central Middle School, which is one of three schools in which BOH is offering this digital learning experience. The others include McKinley and Kaimuki high schools.

Earlier this year, Bank of Hawaii donated 60 19-inch computer monitors in support of a new technology center planned at Central Middle School. Bank of Hawaii continues to include Central Middle School in its yearly Teach Children to Save Day each April, in which volunteers connect with thousands of elementary- and middle-school students to further their financial literacy through interactive lesson plans.