Financial education

At U.S. Bank, we believe we provide the most thoughtful, holistic and integrated financial education resource for every life stage and financial need. In 2016, nearly 150,000 individuals were served through financial education seminars and online workshops in our local communities.

Student Union

At just 12 years old, Camille Stuczynski realized that with five sisters she’d probably have to chip in and would need to start saving early if she wanted to attend college. Seven years later, she still remembers the family dinner when the thought crossed her mind. Now in her second year at the University of California, Berkeley, Stuczynski has found another way to pay for college: winning the first ever $20,000 Financial Genius Scholarship from U.S. Bank. 

“It was very easy to navigate through the financial modules and I learned a lot about loans and credit cards. I feel more financially rooted now. We aren’t really taught [personal finance] in high school and now I feel like I have a baseline understanding of how it works.”

In addition to the $20,000 scholarship, five other students across the country each won $5,000 scholarships and 10 students won $500 scholarships in 2016. In total, 38,000 students completed nearly 180,000 financial modules and 120,000 students registered for the scholarship opportunity.

signature

Teaching life lessons with a piggy bank

Financial education is a passion for Charles Beavers, a U.S. Bank operations manager in Chicago. Thanks to U.S. Bank’s longstanding partnership with Junior Achievement, he regularly shares his passion with students in the community.

Beavers has been an active Junior Achievement volunteer since he joined U.S. Bank in 2011. He loves bringing piggy banks to elementary schools and teaching students about the value of saving.

Through Junior Achievement, Beavers also teaches high school students about potential careers in the banking industry. And, he regularly encourages other U.S. Bank employees to get involved with Junior Achievement.

“Volunteering with Junior Achievement is a phenomenal experience,” he says. “It’s rewarding, because you’re making a positive impact on a young person’s life.”

Beavers is one of the 1,900 U.S. Bank employees who volunteered for Junior Achievement in 2016, contributing more than 15,000 hours of service and reaching 34,000 students across the nation. Nearly 40 U.S. Bank employees served on Junior Achievement boards. And, U.S. Bank contributed more than $1.1 million to Junior Achievement in 2016.

signature

U.S. Bank Economic Empowerment Program

Through a multiyear, $500,000 grant, U.S. Bank established the Economic Empowerment Program at California State University, Fullerton (CSUF). A primary component of the program was to create and research the effects of Youth Individual Development Accounts (IDAs) for the pursuit of a college education. IDAs are savings-only accounts designed to help individuals accumulate savings toward a predefined goal within a set period of time.

Working with local middle schools, U.S. Bank and CSUF faculty provided 100 eighth-grade students from low-income communities in the greater Fullerton area with the opportunity to participate in the program from 2011 to 2016. The Youth IDA participants were asked to deposit a minimum of $10 per month over a five-year period with a goal to save towards a postsecondary education.

Results from the program enabled students to attend college, increase their human capital and stay on a sustained path of higher lifetime earnings.

signature