Webster Bank Announces Launch of Finance Lab With Eagle Academy Foundation

Rhea-AI Summary

Webster Bank and Eagle Academy Foundation have launched the Webster/Eagle Academy Finance Lab to empower students with essential financial skills. This initiative is backed by a $100,000 grant from the Webster Bank Charitable Foundation. The lab will provide finance software and curriculum to students across six schools in New York City and Newark, N.J. Following a successful launch in Yonkers, Webster aims to expand this initiative further. The program emphasizes financial education, youth leadership, and workforce development, reinforcing Webster's commitment to community support and economic empowerment.

Positive

• Launch of the Webster/Eagle Academy Finance Lab enhances financial empowerment for youth.
• $100,000 grant supports essential finance software and curriculum.
• Continued partnership with Eagle Academy Foundation strengthens community engagement.

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• None.

STAMFORD, CT / ACCESSWIRE / March 1, 2023 / Webster Bank, together with Eagle Academy Foundation, today launched the opening of the Webster/Eagle Academy Finance Lab, a program created to provide students in their schools to gain the skills needed for economic empowerment and financial success. The program is funded by a $100,000 Webster Bank Charitable Foundation (WBCF) grant.

The Webster/Eagle Academy Finance Lab expands a signature initiative of Webster Bank designed to help Webster's partners in low- to moderate-income (LMI) communities expand financial empowerment opportunities for youth. The grant funds finance software and curriculum for students enrolled in Eagle Academy's six schools - one in each New York City borough and one in Newark, N.J.

The Eagle Academy location is the second in a series of Finance Labs Webster is funding throughout its footprint from New York to New England in the coming months.

"Following the successful launch of our first Finance Lab in Yonkers earlier this year, Webster is pleased to invest $100,000 with Eagle Academy Foundation to further extend our existing relationship to educate and empower more youth in the communities we serve," said Marissa Weidner, Chief Corporate Responsibility Officer and president of the WBCF. She added, "Webster's commitment to programs such as the Finance Lab gives students a unique opportunity to learn about finance, foster youth leadership and helps build our future workforce."

To celebrate the launch, Eagle Academy students and alumni heard from Donald Ruff, President & CEO of the Eagle Academy Foundation, John Ciulla, President & CEO of Webster Bank, Javier Evans, Chief Human Resources Officer and Matthew Smith, Head of Banking as a Service and Digital Banking about their paths into the banking industry, careers in finance and why creating opportunities for financial empowerment matters.

Webster's partnership with Eagle Academy is reflective of its continuing support of programs that address financial empowerment, workforce development, community development and human services and basic needs. Webster's volunteerism initiatives also will play a key role in the partnership.

"The partnership that The Eagle Academy Foundation enjoys with Webster Bank and its predecessor, Sterling, is an ideal model for corporate engagement. EAF's expanded vision for young men of color, "Eagles Soaring Beyond," includes financial empowerment, and Webster has committed to developing pathways for Eagle students through awareness, education, and career pathways. Eagle Nation is grateful for all the ways that we partner with Webster, and we look forward to even further collaborations," said Ruff.

The Eagle Academy Foundation develops and supports a network of all-male, grades 6 -12, college-preparatory schools in challenged, urban communities. The Eagle Academies consist of six traditional public schools in New York City and Newark, New Jersey and serve over 4,000 scholars and alumni.

About Webster

Webster Bank ("Webster") is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country's largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $68 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including our latest annual report, please visit our About page. To find our latest press releases, visit the Webster Newsroom.

About Eagle Academy Foundation

The Eagle Academy Foundation is a game-changing non-profit organization, dedicated to improving educational, career, and life outcomes for young men of color in New York City and across the country through education, mentoring, and post-secondary support. The foundation developed and supports the Eagle Academy schools-a network of six traditional public schools serving young men from marginalized communities across the five boroughs of New York City and Newark, N.J. For more information, visit eafny.org and follow The Eagle Academy Foundation on Facebook, Instagram, Twitter and LinkedIn. 

Media Contact:

Alice Ferreira
acferreira@websterbank.com
203-578-2610

Investor Contact:

Emlen Harmon
eharmon@websterbank.com
212-309-7646

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SOURCE: Webster Bank

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FAQ

What is the Webster/Eagle Academy Finance Lab?

The Webster/Eagle Academy Finance Lab is a program launched by Webster Bank and the Eagle Academy Foundation to provide students with essential financial skills.

How much funding did Webster Bank provide for the Finance Lab?

Webster Bank provided a $100,000 grant from its Charitable Foundation to fund the Finance Lab.

Where are the Eagle Academy schools located?

The Eagle Academy schools are located in New York City and Newark, N.J.

What is the goal of the Finance Lab program?

The goal of the Finance Lab program is to empower students with financial education and skills for economic success.

When was the Finance Lab launched?

The Finance Lab was launched on March 1, 2023.

What impact does the Finance Lab have on the community?

The Finance Lab aims to enhance financial empowerment, workforce development, and community support.