Webster Bank Expands Financial Literacy Program Support

Webster Bank has made a three-year, $300,000 grant to Connecticut Financial Scholars, part of the bank’s continued support for financial empowerment programs.

The grants support programming and teacher training, including curriculum and paid teacher professional development for in-school financial literacy education; afterschool investing enrichment; paid summer workforce development for teens; and adult workshops.

Founded by lead sponsor Webster Bank, Connecticut Financial Scholars supports 26 school partnerships in the current academic year.

The bank said the new funding will help expand the program to 75 schools serving more than 5,000 students by end of the 2027-28 academic year.

“Our support of Connecticut Financial Scholars reflects our commitment to advancing financial empowerment, one of our core philanthropic pillars,” said Marissa Weidner, Webster’s executive vice president and chief corporate responsibility officer.

“We are proud to ensure this program continues to invest in schools across the state by providing hands-on relevant approaches to educate and financially empower students.”

Financial Empowerment

According to Webster’s 2023 Financial Empowerment Study, only 27% of U.S. consumers reported receiving any type of financial education in middle or high school.

The study, which examined financial challenges faced by consumers, found middle school and high school students who received financial education are more likely to feel “fully in control” of their finances (49%) compared to those who did not receive any financial literacy courses (25%).

“Webster’s support has enabled us to lead school-based financial education implementation in Connecticut,” said Connecticut Financial Scholars’ executive director Nancy Kail.

“Together, we’re reaching more teachers, students and families with the tools they need to build financial knowledge and confidence.

“We want to thank them for their support and powerful investment in the future of our youth.”

School Partnerships

Stamford High School is among the 26 school partnerships this year.

“Teaching financial literacy at an early age prepares students for success both inside and outside the classroom,” said Stamford Mayor Caroline Simmons.

“Teaching financial literacy at an early age prepares students for success both inside and
outside the classroom.”

Stamford Mayor Caroline Simmons

“I am grateful to Webster Bank for their generous support of the Connecticut Financial Scholars program.

“Thanks to these important programs, thousands of young people will gain the skills and confidence they need to manage their finances and prepare for their futures.”

The partnership also includes opportunities for Webster Bank colleagues to volunteer as classroom guest speakers and career panelists as well as at other events like the organization’s signature Teen Investors Summit and financial reality fairs.