Maplewood and Fifth Third Bank team up to teach about finance and create college savings program
Freshmen at Maplewood High School's Academy of Business and Consumer Services are setting their sites on the future. A new partnership between the school and Fifth Third Bank has opened the door for dynamic learning and training opportunities for students and teachers. Principal Ron Woodard is excited about this new relationship with the financial institution: "Fifth Third is a highly respected corporation that takes great pride in serving its community [. . .] the bank will provide extensive training on financial literacy for our students and community members. This will be such as asset for our community." Students from the Academy of Business and Consumer Services will learn about financial literacy and have the chance to participate in job shadowing at the bank in departments such as retail, mortgage, and commercial banking. The most ambitious goal of the partnership, however, is to create a college savings program for all freshmen. Leaders at Maplewood and Fifth Third Bank hope to set up a system that will allow every freshman to open a college savings account during their first year of high school. Fifth Third's Community Reinvestment Act executive for Tennessee, Luis Parodi, believes the new relationship will contribute to the economic prosperity of the mid-state area: "Given the current economic state and unemployment concerns, people are becoming more aware of their personal accountability for their financial future. Volunteering our time to provide financial education gives us a chance to empower people with knowledge to make the right choices."