SFEPD and Carver Bank Amplify Successful Financial Education Initiative

The Society for Financial Education & Professional Development (SFEPD) and Carver Bank amplify successful financial education initiative at three historically Black colleges and universities (HBCUs) to include internships and professional development

SFEPD-Carver initiative aims to bridge the financial literacy gap among African American college students and build minority talent for a better today and a brighter tomorrow 

ALEXANDRIA, VA AND NEW YORK, NY. – SEPTEMBER 30, 2021 /PRNewswire/ —   Imagine a program where college students learn financial skills and teach their peers knowledge for financial success. The SFEPD Student Ambassador Program is doing precisely this at Howard University, University of the District of Columbia (UDC), and Medgar Evers College in partnership with Carver Federal Savings Bank (“Carver”).

The year-old model program, in which student leaders taught financial skills remotely to over 1,000 students at the three HBCUs, is now adding internship opportunities for Student Ambassadors to help them on their career path. “Thanks to the support of Carver, which is arranging internships for our Student Ambassadors at Deloitte, students are gaining valuable experience that will help them secure careers in business and finance,” said Ted Daniels, President and Founder of SFEPD, the nonprofit that spearheads the Student Ambassador Program at HBCUs. With students back on campus, SFEPD will continue to expand its reach to teach financial education to more students at these institutions.

“Financial education is critical for communities of color that often lack access to important tools to gain financial security,” said Carver CEO and President Michael T. Pugh. “SFEPD’s Student Ambassador Program is combatting a financial knowledge gap among HBCU students and helping to build the next generation of leaders in our great country. Carver is proud to partner with the SFEPD and to support this vital program that makes students financially savvy and marketable in today’s dynamic workplace.”

“I am inspired to pay it forward and share personal finance concepts with fellow students, friends and family,” said Sherifa Clarke, Student Ambassador, Medgar Evers College.

“This program is making a difference in our future at a pivotal time – I wish every college and university taught financial education to their students,” said Evan Johnson, Student Ambassador, Howard University.

“Teaching financial knowledge and skills to my peers is an amazing experience,” said Courtney Hicks, Student Ambassador, University of the District of Columbia.

The project uses a peer-to-peer model where student leaders are trained in personal finance by SFEPD and then teach their classmates engaging money management courses. For the past year, the elite team of Student Ambassadors and HBCU students met virtually on the three campuses with financial educators, Carver’s leadership, and financial experts. The program includes stock market games, a speaker series, and training on credit management, investing, student loan debt, financial strategies during COVID-19, and more. The students, who are back on campus this fall, are taking essential money management courses to increase their knowledge and advance career opportunities.

About The Society for Financial Education and Professional Development

For more than 23 years, SFEPD, based in the Washington, D.C. area, has served as an award-winning financial literacy and professional development nonprofit teaching financial skills to people of all ages and backgrounds with a focus on underserved communities and HBCU college students. SFEPD is led by President and Founder Ted Daniels, a leader in the global financial literacy movement. Learn more at www.sfepd.org.  Connect with SFEPD on social media: Facebook, Instagram, LinkedIn, Twitter, and YouTube.

About Carver Bancorp, Inc.

Carver Bancorp, Inc. (NASDAQ: CARV) is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Headquartered in Harlem, NY, Carver was founded in 1948 to serve African American communities whose residents, businesses, and institutions had limited access to mainstream financial services. The U.S. Treasury Department has designated Carver as a Community Development Financial Institution (“CDFI”) because of its community-focused banking services and dedication to its local community’s economic viability and revitalization. Carver is one of the largest African- and Caribbean-American managed banks in the United States. The Bank recently expanded its online presence to include consumer checking and savings accounts across nine states, from Massachusetts to Virginia, and Washington, D.C. For further information, please visit the Company’s website at www.carverbank.com. Be sure to connect with Carver on Facebook, LinkedIn, and Twitter.

Media Contacts:

Ginie Lynch for SFEPD

Michael Herley for Carver Bank

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