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03.04.21

Financial Learning Happens with Banzai

Atlantic Union Bank has always been committed to our communities. Our sponsorships, partnerships, and giving strategies help to enrich, educate, support, and elevate the lives and culture of the people in the cities and towns we all call home. Not only are we major sponsors of several local college and university athletic programs -- as well as some of your favorite festivals and family events -- we’re also proud to support many housing organizations that strive to ensure its residents have a safe, affordable place to call home, and a champion for volunteerism.

Being a bank though, gives us a special insight into advocating for financial health and literacy –because setting future generations up for financial success is at the heart of what we do. That’s why we partner with Banzai, an organization that’s been helping people of all ages become financially savvy for over 12 years.

According to a 2016 Fortune Magazine article nearly two-thirds of Americans can’t pass a simple financial literacy test.  More bad news: A 2020 survey by the Council on Economic Education revealed that half of our states don’t require high school students to take even a basic economics class, and only 21 require high school students to take a course on personal finance.

With online courses and resources (free to Atlantic Union Bank customers) accessible anytime-anywhere, learning with Banzai is as simple as logging onto a computer. And, as social distancing practices are the new norm, remote learning might just be the learning of choice for a while.

Do you have an emergency fund? How can you make a dent in your student loan debt? Are you thinking about buying a home? Obsessing about your financial matters can be a burden, causing undue stress and anxiety. But when you have a plan to tackle your financial issues, that’s when you take control of your money and turn worry and concern into confidence. “Being in charge of your financial future is a life skill,” says Susie Lamb, Sponsor Relations Coordinator at Banzai. “If people are fiscally sound, they are more likely to qualify for a loan for their dream home or save smartly for college.”

Banzai’s advanced curriculum includes interactive courses, calculators, resources, and articles on building credit, getting started in investing, paying for college, mortgages, HSA and FSA accounts, emergency fund planning, and much more.  They’ve also developed a recent crisis-management center that includes topical courses and resources on emergency budgeting, dealing with financial setbacks, and navigating government assistance programs.

Financial learning isn’t just for adults. The path to financial literacy starts early at Banzai with teaching the value of a dollar, introducing kids to topics such as paying bills, budgeting, and saving.  Banzai courses for kids are real-life simulations that use trial and error when illustrating budgeting basics and solving financial dilemmas. And, they are specifically designed to keep their attention. “Our Teen Program is one of the most popular we offer,” adds Ms Lang. “It’s a fun, interactive and engaging eye-opener that teaches budgeting and savings with real scenarios that are designed to grow with them. So, in a sense, the learning never has to stop.”

Getting a financial education might not be the first thing that comes to your mind when you’re thinking of going back to school. Thankfully, Banzai makes it easy and convenient for the whole family.

To date, and with the help of Banzai, Atlantic Union Bank has served 175 schools, 180 teachers, and educated close to 6,000 students across our footprint.

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