CINCINNATI – (BUSINESS WIRE) – Fifth Third Bank, National Association today announced the launch of the first digital version of Fifth Third Young Bankers Club®, its exclusive financial education program for fifth graders.
Young Bankers Club® is an engaging financial education program that helps students learn key math skills online at any time. The classes were developed to help students establish a solid foundation in money management and valuing savings. Traditionally, Young Bankers Club® classes were taught in classrooms, often by Fifth Third staff serving as mentors for the program. The new Young Bankers Club® The program has been redesigned to offer a comfortable experience for a virtual learning environment. The new program offers greater accessibility across multiple platforms, including laptops, desktop computers, tablets and Android and iOS mobile devices.
“The digital version of Young Bankers Club® offers young students financial education tools, inside or outside the classroom, that teach them the financial skills they will use throughout their lives, ”said Stefanie Steward-Young, director of corporate social responsibility at Fifth Third.
As a result of the pandemic, more schools across the country have adopted e-Learning solutions for remote and face-to-face learning experiences, making the launch of the new Young Bankers Club digital format® timely.
The updated program incorporates greater flexibility for teachers. In just 30-45 minutes a week for an eight-week period, teachers can help students learn all the basics of finance online at any time. Flexibility allows Fifth Third to deploy the program to more schools and its 11 states.
The new Young Bankers Club® The digital format features a comprehensive curriculum that meets national and state educational standards for fifth grade math. Each lesson in the eight-unit curriculum, which is presented through a game, provides a unique and engaging approach to financial literacy that helps students gradually apply their knowledge as they work toward more complex scenarios. The program incorporates different facets of the banking system, while clearly identifying the relevant mathematical patterns within each unit and describing what students should know and how to use the information.
The most innovative feature in the digital format is the introduction of the 10-year-old character, Maximillion Money ™, the president of the Young Bankers Club® and the richest boy in America. Maximillion Money ™ guides participants and their friends on a journey that takes them to the New York Stock Exchange, the US Mint, other financial industry landmarks and a Fifth Third financial center. Students discover hidden clues, earn rewards and badges, unlock avatars, level up for new adventures each week, make weekly trivia to test their knowledge and challenge themselves to be first in the class ranking.
Each lesson represents a “level” and focuses on the following aspects of personal finance:
• Budget
• Banking and payment methods
• Excessive spending and loans to third parties
• Lending money
• Jobs and income
• Saving and Investing
• Protect Your Money – Risk and Insurance
“After-School All-Stars is excited about partnering with Fifth Third to launch Digital Young Bankers Club® program, ”said Hayley Blomquist, program coordinator, After-School All-Stars (ASAS), Chicago Public Schools. “Our schools and students have benefited greatly from the financial education curriculum in the past and many instructors have specifically requested to run the program again this year. In these uncertain times, it is wonderful to have adaptive technology to serve our students and we are excited to offer a virtual space to engage students this spring. ”
VMG Studios developed and programmed the educational, creative and interactive elements of the reimagined Young Bankers Club® program. The digital learning platform, Tovuti LMS (Learning Management System) enables the curriculum and allows gamification, enrollment, tracking and reporting metrics for students who must participate in the virtual offer. For the past 16 years, Young Bankers Club® educated nearly 30,000 fifth-year students about finance. In its first year, the young bankers’ digital club® The program is expected to reach 25,000 students.
“The partnership with Fifth Third Bank on this project was incredible. Finding the synthesis and harmony between education and fun, function and design was exciting and incomparable in our vast experience as a design and production company. Designing and programming with diversity and inclusion in mind is one of our top priorities, and partnering with Fifth Third has made these achievements even more rewarding, ”said Kelly Sparks, CEO of VMG Studios. “Together, we were able to create an integrated and engaging educational program that is unmatched in the e-Learning space. The program itself, combined with the rich metrics and insights provided by the Tovuti platform, has become one of the most robust and engaging financial education tools that exist today. VMG Studios is honored to have been a leading participant in this effort. ”
“Tovuti LMS is very excited to partner with Fifth Third Bank and VMG Studios to present the new digital format for Young Bankers Club®, ”Said Troy McClain, CEO of Tovuti LMS. “Fifth Third Bank is known for successfully implementing innovative financial solutions that inspire people to achieve financial stability. With VMG Studios’ approach to design and Fifth Third’s commitment to making positive changes in the lives of young people, Tovuti LMS could not be anything other than the honor of being part of this great initiative. ”
Young Bankers Club® is part of Fifth Third’s Lives Improved Through Financial Empowerment (LIFE®), which offers financial learning opportunities for people at all stages of life. In addition to the Young Bankers Club®, life® programs include: The Fifth Third Bank Financial Empowerment Mobile – a 40-foot vehicle that transforms into a mobile bank providing access to products and services, free credit reports, financial education and financial stability resources; Finance Academy – a curriculum that focuses on educating high school students about finance; and empower you® – financial education program taught by Fifth Third employees to customers and the community. Since 2004, more than 2.5 million people have been educated through these programs. To learn more, visit www.53.com/LIFE. For more information on the digital Young Bankers Club® program, visit www.53.com/ybc.
About the Fifth Third
Fifth Third Bancorp is a diversified financial services company based in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, an institution licensed by the federal government. As of December 31, 2020, Fifth Third had $ 205 billion in assets and operated 1,134 full-service banking centers and 2,397 Fifth Third brand ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia , Georgia, North Carolina and South Carolina. In total, Fifth Third offers its customers access to approximately 52,000 free ATMs in the United States. Fifth Third operates four main businesses: Commercial Bank, Branch Bank, Consumer Credit and Asset and Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2020, had $ 434 billion in assets under care, of which it managed $ 54 billion for individuals, corporations and nonprofits through its Trust and Registered Investment Advisory Companies. Investor information and press releases can be viewed at www.53.com. Fifth Third common shares are traded on the Nasdaq® Global Select Market under the symbol “FITB”. Fifth Third Bank was established in 1858. Deposit and credit products are offered by Fifth Third Bank, National Association. FDIC member.