Mass. Bankers Assoc., Five Banks Launch ‘Common Cents’ Program
BOSTON — The Mass. Bankers Assoc. (MBA) and five banks, including Holyoke-based PeoplesBank, have launched Common Cents, a financial-education competition with participating high-school students from around the state. The program is featured online at www.masscommoncents.com.
Recorded last autumn, Common Cents is a quiz-show competition hosted by the MBA and the five bank partners located around the Bay State: Bank of America, BayCoast Bank, Cape Cod Five Cents Savings Bank, PeoplesBank, and the Savings Bank. The 80 high-schoolers compete for prizes and learn about important financial-education concepts and practices along the way.
The schools include Barnstable High School, Barnstable; Madison Park High School, Boston; Chicopee Comprehensive High School, Chicopee; Chicopee High School, Chicopee; Lynnfield High School, Lynnfield; Natick High School, Natick; Gateway to College Program, Fall River; Dennis-Yarmouth Regional High School, South Yarmouth; and Wakefield High School, Wakefield.
Common Cents is being introduced to every Massachusetts high school with a guide and special classroom instructions that can also be found on the website. In addition, a video of the program has been sent to public-access television stations across the Commonwealth, encouraging both students and the general public to engage and embrace the important financial information highlighted in the competition.
The 2015 Common Cents program, the third of its kind, was produced in support of the Financial Literacy Pilot Program established by the Massachusetts Legislature in 2012. This three-year pilot in 10 high schools in gateway cities throughout the Commonwealth is designed to test the potential viability of installing required financial-education programs in all Massachusetts high schools to give students the personal-finance skills necessary to succeed in life.
“Unfortunately, financial education is not currently required in all of Massachusetts’ high schools,” said Daniel Forte, president and CEO of the MBA. “The Common Cents quiz show provides an effective and engaging opportunity for high-school students — or just about anyone — to gain valuable financial knowledge, and could serve as a model for some of the subject matter that should be taught in our high schools. This innovative program is a fun way to learn personal-finance skills we all need throughout our lives.”
Hosted by New England Cable News anchor Latoyia Edwards, radio celebrity Ashlee Feldman of JAM’N 94.5, and financial expert Jeffrey Fuhrer, executive vice president of the Federal Reserve Bank of Boston, the program also features a special guest appearance by former New England Patriot Jermaine Wiggins. For more information and to view the program, visit www.masscommoncents.com.