Varo Bank Launches "SaveUp" Financial Education Course in Collaboration with EVERFI

Rhea-AI Summary

Varo Bank has announced the launch of SaveUp, a free savings curriculum for middle schools, in partnership with EVERFI. This initiative aims to reach 4,500 middle schools by June 2024 and is part of the Varo Money Power program. The course, aligned with national financial education standards, empowers students to build savings habits early. Varo emphasizes financial inclusion, with the program expected to enhance understanding of budgeting and savings among low-to-moderate income populations.

Positive

• Launch of the SaveUp curriculum targeting 4,500 middle schools by June 2024.
• Partnership with EVERFI enhances credibility and reach.
• Focus on financial inclusion aligns with current educational trends.

Negative

• None.

Free Savings Curriculum to Reach 4,500 Middle Schools Nationwide

SAN FRANCISCO, Sept. 15, 2022 /PRNewswire/ -- Varo Bank, the first all-digital, nationally chartered U.S. consumer techbank, announced today the launch of SaveUp, a free middle school savings curriculum designed in strategic partnership with social impact education innovator, EVERFI. The SaveUp course is the largest initiative to date of the Varo Money Power program, which includes free online financial education lessons for adults and the Russ x Varo Money Power financial education workshops for high school students designed in partnership with NBA superstar Russell Westbrook.

SaveUp empowers students by providing them with the tools they need to build a strong savings foundation and will be available to 4,500 middle schools nationwide by June 2024. The course is aligned with Jump$tart National Standards for Personal Finance Education and focuses on middle school students to provide them time to learn and practice savings habits before they start to deal with more pressing financial challenges in high school and beyond. 

"Everyone deserves the same access to opportunity, and that starts with financial education," said Colin Walsh, Founder and CEO of Varo Bank. "Through this joint initiative, Varo and EVERFI continue to advance our shared mission of expanding financial inclusion and helping young people learn the fundamentals of what it takes to build wealth for themselves and their communities. We plan to leverage this program content in the future to broaden the reach of financial education and literacy to a wider audience going forward."

Throughout the course, students will learn the importance of saving, how to budget, how savings can help reach financial goals, and how to open a savings account. This will be accomplished through an interactive learning experience that includes:

• Self-guided lessons to help students develop simple, actionable strategies.
• Real-world scenarios that prime students for long-term behavioral change using problem-solving and self- reflection activities.
• Detailed score reports and offline extension activities to help teachers maximize their impact across all students.

"Middle school is a time of financial socialization for students as they start to develop their own values and beliefs around money," said Ray Martinez, Co-Founder and President of EVERFI. "Developing the SaveUp curriculum and bringing it to middle schools around the country, is just part of our commitment to help students, especially those in low-to-moderate income populations, build the knowledge and skills they need to achieve financial wellness and stability while providing equal access to the financial services system."

Learn more about SaveUp course here:  www.varomoneypower.everfi.com

About Varo Bank, N.A.
Varo Bank is the first all-digital, nationally chartered U.S. consumer techbank built from the ground up, designed to make financial inclusion and opportunity a reality for all. Varo Bank is reimagining the modern banking experience and providing customers with the tools they need to build financial resilience and realize their financial power – with offerings such as Varo Believe, a secured card to help build credit, Varo Advance to help stretch hard-earned dollars between paychecks, the ability to earn cashback at 1,000 merchant locations nationwide, and a newly launched high yield savings account option, more than 38x the national average. A different kind of financial institution – Varo Bank serves everyone striving to build a better future – from those with abundance to people struggling to make ends meet. Varo has been named one of Forbes' World's Best Banks in 2022, Fast Company's Most Innovative Companies, and is on the Inc 5000 list of fastest growing companies for 2022. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com, like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. @2022 Varo Bank, N.A. Member FDIC.  

About EVERFI, Inc.
EVERFI from Blackbaud (NASDAQ: BLKB) is an international technology company driving social impact through    education to address the most challenging issues affecting society ranging from financial wellness to mental health to workplace conduct and other critical topics. Founded in 2008, EVERFI's Impact-as-a-Service™ solution and digital educational content have reached more than 45 million learners globally. In 2020, the company was recognized as one of the World's Most Innovative Companies by Fast Company and was featured on Fortune Magazine's Impact  20 List. The company was also named to the 2021 GSV EdTech 150, a list of the most transformative growth companies in digital learning. Blackbaud, the world's leading cloud software company powering social good, acquired EVERFI in December of 2021. To learn more about EVERFI, please visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.

Media Contact:
varo@webershandwick.com 

 

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SOURCE Varo Bank

FAQ

What is the SaveUp curriculum by Varo Bank?

The SaveUp curriculum is a free savings education program designed for middle school students to help them build a strong savings foundation.

When will the SaveUp curriculum be available in schools?

The SaveUp curriculum aims to reach 4,500 middle schools by June 2024.

How does the SaveUp curriculum benefit students?

The curriculum empowers students to learn about budgeting, savings, and setting financial goals through interactive lessons.

Who partnered with Varo Bank for the SaveUp curriculum?

Varo Bank partnered with social impact education innovator, EVERFI, to develop the SaveUp curriculum.

What are the goals of the SaveUp initiative?

The SaveUp initiative aims to enhance financial literacy among students, particularly in low-to-moderate income populations, promoting financial wellness and stability.