Stamford-Based Bank Announces $300,000 Grant For Connecticut Financial Scholars

STAMFORD, CT — Stamford-based Webster Bank this week announced a $300,000 grant to Connecticut Financial Scholars to expand financial literacy programs for students, teachers and families across the state.

The three-year grant will fund curriculum, professional development for teachers, in-school financial literacy education, afterschool investing enrichment, paid summer workforce development for teens, and adult workshops.

The initiative launched this school year with 26 school partnerships and is expected to reach 75 schools and more than 5,000 students by the end of the 2027-28 academic year.

"Our support of Connecticut Financial Scholars reflects our commitment to advancing financial empowerment, one of our core philanthropic pillars," said Marissa Weidner, executive vice president and chief corporate responsibility officer at Webster Bank, in a news release. "We are proud to ensure this program continues to invest in schools across the state by providing hands-on relevant approaches to educate and financially empower students. We look forward to helping Connecticut Financial Scholars expand its reach and build lasting partnerships."

Webster Bank is the lead sponsor of the program, which builds on a similar model in Philadelphia.

"Webster’s support has enabled us to lead school-based financial education implementation in Connecticut," said Nancy Kail, executive director of Connecticut Financial Scholars. “Together, we’re reaching more teachers, students and families with the tools they need to build financial knowledge and confidence. We want to thank them for their support and powerful investment in the future of our youth.”

The partnership also provides opportunities for Webster Bank employees to serve as guest speakers, career panelists, and volunteers at events such as Teen Investors Summit and financial reality fairs.

"Teaching financial literacy at an early age prepares students for success both inside and outside the classroom," said Mayor Caroline Simmons in a news release. "I am grateful to Webster Bank for their generous support of the Connecticut Financial Scholars program. Thanks to these important programs, thousands of young people will gain the skills and confidence they need to manage their finances and prepare for their futures."

According to Webster Bank’s 2023 Financial Empowerment Study, only 27 percent of U.S. consumers said they received financial education in middle or high school. The study found that 49 percent of students who took financial literacy courses felt "fully in control" of their finances, compared to 25 percent who did not.