New Money: Fifth Third Develops Digital Young Bankers Club

It’s learning lifesaving money skills for young people reimagined.

Fifth Third Bank, National Association, recently launched its first-ever digital version of the Fifth Third Young Bankers Club —a  signature financial education program for fifth-grade students, according to a press release.

Young Bankers Club is a multilayered financial education program that assists students with learning key math and life skills, the release added. Lessons were developed to help students create practical foundations in money management and have a deeper interest in saving. Traditionally, these lessons were taught in school classrooms, often by Fifth Third employees serving as mentors for the program. The program has been redesigned to deliver the experience in a virtual learning environment, according to the release.

“As a result of the pandemic, more schools around the country have adopted eLearning solutions for both remote and in-class learning experiences, which makes the release of the new digital format of Young Bankers Club timely,” said Jason Paulateer, Community Development and Social Responsibility market manager for Fifth Third in eastern Michigan, in the release. “This updated program offers young students financial literacy tools inside or outside of the classroom that teach them the financial skills they will use throughout their lives.”

The updated program incorporates greater flexibility for teachers. In only 30-45 minutes per week during an eight-week period, teachers can help students learn all the basics of finance online at any time. The flexibility enables Fifth Third to deploy the program into more schools. And, the new program offers greater accessibility through multiple platforms, including laptops, desktop computers, tablets and Android and iOS mobile devices, per the release.

In southeastern Michigan, the digital version of Young Bankers Club began rolling out in March. Previously, 18 schools and about 550 students participated in the local in-person, volunteer-led program.

“My students are loving the new Young Bankers Club,” said Marcia Cannon, a fifth-grade teacher at Brick Elementary in Ypsilanti in the release.  “They find it very easy to maneuver and are having fun doing it. When they have trouble with a concept, the program helps them through it. It has been great so far.”

Maximillion Money is a 10-year-old character and the president of Young Bankers Club, as well as the richest kid in America. Maximillion Money guides the participants and their friends on a journey that takes them to the New York Stock Exchange, the U.S.Mint, other financial industry landmarks, and to a Fifth Third financial center. Students can discover hidden clues, win rewards and badges, unlock avatars, level up to new adventures each week, take weekly trivia to test their knowledge, and challenge themselves to be first on the class leaderboard.

About the curriculum

The digital format features a comprehensive curriculum that meets national and state educational standards for fifth-grade mathematics. Each lesson in the eight-unit curriculum, which is presented through a game that helps students apply their knowledge gradually as they work toward more complex scenarios. The program incorporates different facets of banking, while clearly identifying relevant math standards within each unit and outlining what students should know and how to use the information.

Each lesson represents a “level” and focuses on the following aspects of personal finance:

  • Budgeting
  • Banking and Payment Methods
  • Overspending and Lending to Others
  • Borrowing Money
  • Jobs and Income
  • Saving and Investing
  • Protect Your Money – Risk and Insurance

Over the last 16 years, Young Bankers Club has educated nearly 30,000 fifth graders about finance. In its first year, the digital program is expected to reach 25,000 students.

To learn more, visit 53.com/ybc or watch this video. Teachers are also able to enroll their classroom through the website.

 

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