Five Questions With: Amy Martel

"Imparting students with financial literacy information does not depend on whether or not the student has money or a bank account because our intention is to help them learn best practices that can be put into action at any time during their lives."

Amy Martel is the executive vice president and chief operating officer of People’s Credit Union. Last month, she and Rhode Island General Treasurer Seth Magaziner recognized North Kingstown High School students for their completion of the credit union’s Rhode Island Financial Scholars Program. Martel talks with Providence Business News about the program, the software that drives it and the importance of financial literacy among young adults and children.

PBN: Can you tell our readers a little bit about the Rhode Island Financial Scholars Program?
MARTEL:
The People’s Credit Union Rhode Island Financial Scholars Program, powered by “EverFi,” is an innovative web-based program for high school students which brings complex financial concepts to life. People’s Credit Union sponsors the program at no cost to participating schools, which allows the opportunity to certify students in financial literacy.

PBN: What is EverFi?
MARTEL:
The EverFi platform, which is aligned established or emerging national state standards, certifies students in a variety of relevant financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k’s and other critical concepts.

PBN: Is it specifically designed for students, or can other demographics use it too?
MARTEL:
While the EverFi program that People’s Credit Union sponsors is specifically geared toward high schools, EverFi provides a number of programs that provide different critical skills solutions.

- Advertisement -

PBN: Why is financial literacy important for students who may not have very much money, or even own a bank account?
MARTEL
: Imparting students with financial literacy information does not depend on whether or not the student has money or a bank account because our intention is to help them learn best practices that can be put into action at any time during their lives. In fact, teaching students about fiscal responsibility is even more important before they earn their first dollar or open their first account because it will ensure good habits from the start including having the tools to create appropriate budgets, save for future needs and obtain and maintain good credit.

PBN: Do you see an increasing amount of financial literacy among younger populations, or does more need to be done? If so, what?
MARTEL: Unfortunately, our younger population is still in need of more financial education. Our goal at People’s Credit Union is to have every student start their adult lives with a general understanding of basic financial concepts to help them pay for college, buy their first car, purchase their dream home, save for retirement and so much more. By providing them with this foundation, today’s students can be successful contributors to our communities tomorrow, and we can only achieve this if our lawmakers, parents and educators support initiatives such as the Rhode Island Financial Scholars program.

No posts to display