Bank of America volunteers teach critical financial education workshops to over 1,000 RUSD high school students

In February 2023, more than 1,000 local high school students in Rialto received a crucial financial education boost, thanks to the efforts of Bank of America volunteers. 

Students, from Rialto High School, Carter High School, and Eisenhower High School, were given a 12-session comprehensive education on financial literacy, as part of their Career Technical Education (CTE) program. 

The students were taught by local Bank of America bankers who shared their knowledge on budgeting, money management, credit-building, and how to manage first paychecks.

Bank of America has long been a proponent of financial education across the United States, offering free courses in English and Spanish to underprivileged communities, including the Inland Empire. The CTE program provided the perfect opportunity to teach students the importance of financial literacy and the basics of managing personal finances.

“Financial literacy provides our communities with the knowledge and tools to help make confident, informed financial decisions to shape their future. Many students we met have a dream of continuing their education, buying a home, being financially stable, and having a career. Sharing financial education resources and tools through the Better Money Habits materials provides a foundation to make financial lives better, and help fuel economic mobility for individuals and families,” said Jessica R. Adams, Bank of America vice president consumer banking market manager, Inland Empire.

The lack of financial literacy education in underprivileged communities is a pressing issue in California and the United States as a whole. According to a recent survey conducted by the Financial Industry Regulatory Authority (FINRA), nearly two-thirds of Americans cannot pass a basic financial literacy test. This lack of financial literacy disproportionately affects underprivileged communities, where access to resources and education is limited.

“The Better Money Habits” sessions focused on several topics, including our “Student Guide to Managing Money,” which covered topics such as understanding income and expenses, budgeting, adjusting spending habits, and how to start saving. The sessions also covered “Banking Basics,” which included information on how banks work, interest, and different types of accounts,” continued Adams. “The final week discussed financial safety and touched upon keeping your finances and information protected. We wrapped up the sessions with “Smart Credit Moves for Students,” which discussed credit reports, credit scores, how to build and establish good credit, and how to use credit wisely.” 

The impact of the courses was felt by the students themselves, who praised the initiative for teaching them valuable financial skills. “I learned a lot about credit scores and budgeting, and how to manage money effectively,” said Rialto High School Student Krista Stuart. “I feel more confident about managing my finances in the future.”

Bank of America’s financial education courses provide a crucial service to underprivileged communities across the Inland Empire, giving students the skills they need to manage their finances effectively and set themselves up for a successful financial future. 

The initiative is a testament to the bank’s commitment to financial education and its dedication to improving the lives of people across the United States.