Cape Cod 5 Announces Virtual Credit for Life
Platform for Local High Schools
NEW WEBSITE TO BE ROLLED OUT DURING FINANCIAL LITERACY MONTH
AND WILL OFFER LOCAL STUDENTS AN INTERACTIVE FAIR EXPERIENCE
Hyannis, MA – Cape Cod 5 is pleased to announce that it will offer Credit for Life Fairs to local high school juniors and seniors this spring via a new digital platform. Developed in collaboration with eight other Massachusetts banks, the website is intended to serve as a safe and innovative alternative to the traditional in-person fairs as well as a modernization of the event going forward.
Credit for Life is a nationally recognized financial literacy program, sponsored locally by Cape Cod 5, where high school students assume the role of a 25-year-old adult and are given the opportunity to make personal financial decisions. The Bank partners with area schools to share financial know-how tips and offer guidance to students on the impact of those decisions on their overall budget and financial well-being. Since the first Fair was offered by Cape Cod 5 in 2011, over 14,500 students across the Cape, Islands and Southeastern Massachusetts have taken part in the Credit for Life program.
“At Cape Cod 5, we consider financial education to be an important aspect in the growth of all individuals and that it should start at a young age,” said Dorothy Savarese, Cape Cod 5 Chair and CEO. “We are proud that this collaborative effort has enabled us to continue the Credit for Life tradition in our region as we aim to enrich the lives of our local students to set them up for future success.”
April is Financial Literacy Month and Cape Cod 5 is committed to providing tools, advice and resources to help all people build smarter financial habits, wherever they are on their financial journey – particularly during these times. Through this partnership, the Bank was able to ensure that this year’s class had access to the same opportunities and resources offered in schools prior to the pandemic.
The site was designed by Stackpole & Partners of Newburyport, in collaboration with Cape Cod 5, the Institution for Savings, Bay Coast Bank, HarborOne Bank, The Savings Bank, Rockland Trust, Westfield Bank, Country Bank and FitMoney.org, a not-for-profit financial literacy organization.
The website has been tested by a group of educators, students and volunteers and will be introduced to high school classrooms later this month. The group is also in the process of establishing a 501 c 3 that will allow it to raise funds and plan for future school financial literacy initiatives to augment the Credit for Life Fairs with financial literacy modules, tools and content.
About Cape Cod 5
Founded in 1855, Cape Cod 5 is an independent state-chartered financial institution with over $4.4 billion in assets. Through its 26 offices, Cape Cod 5 offers a broad range of financial products and services to customers living and working on Cape Cod, Martha’s Vineyard and Nantucket and in Southeastern Massachusetts communities. Products and services include consumer and commercial banking products; residential mortgages; investment management and trust services. Member FDIC. Equal Housing Lender.