SAN FRANCISCO, April 1, 2021 /PRNewswire/ — Varo Financial institution, the 1st all-electronic nationally chartered bank in the US, today announced that it is sponsoring the EVERFI Monetary Literacy Bee using place April 1-15, 2021. The EVERFI Economic Literacy Bee is a nationwide financial literacy obstacle for superior college students across the nation.
Varo’s sponsorship of the EVERFI Money Literacy Bee is one more demonstration of its social effect mission, aimed at advancing fiscal inclusion and option for all. Varo’s top quality banking merchandise are built to support consumers build and maintain a potent economic foundation.
“The pandemic has shone a bright light-weight on the economic vulnerability of most People, with 40 percent of American shoppers reporting that they had problems having to pay at the very least 1 invoice or cost in 2020,” stated Ray Martinez, co-founder, and president, EVERFI. “We have normally been committed to aiding pupils increase their financial literacy, and in the course of this historic time, we are also functioning to help parents really feel more comfy getting dinner-table discussions about money. The Financial Literacy Bee is a exciting way for pupils to find out important strategies to maximize price savings.”
The digital obstacle, produced by social affect education and learning innovator EVERFI, and supported by foremost economic institutions nationwide, capabilities four limited electronic classes followed by a capstone essay contest in which learners share a short-term or long-time period cost savings aim and outline their program to attain that aim. Winners of the EVERFI Money Literacy Bee will obtain a full of $20,000 in faculty scholarships.
“I am exceptionally fired up to partner with EVERFI on the Fiscal Literacy Bee and advance our shared mission to boost fiscal education and inclusion,” reported Colin Walsh, CEO and founder of Varo Lender, N.A. “Entry to high-quality economic education at an early age is foundational to a healthier relationship with revenue throughout life.”
Varo reimagines the conventional banking knowledge by providing all-electronic high quality banking products developed to guidance financial inclusion and option for its customers and their communities. Varo capabilities up to two working day early payroll deposits,* discounts accounts with fees that fork out various moments the countrywide typical, and Varo Progress,** a short expression income progress line of credit score that makes it possible for qualifying buyers to entry up to $100 as needed suitable in the Varo Bank app. Varo lately introduced the Feel Plan*** made to assistance Varo customers safely and securely establish or repair their credit score, without having expenses or upfront protection deposits.
About EVERFI, Inc.
EVERFI is an worldwide engineering corporation driving social change via instruction to handle the most complicated troubles influencing society ranging from economical wellness to prescription drug security to office conduct and other crucial matters. Founded in 2008, EVERFI is fueled by its Software program-as-a-Provider (SaaS) local community engagement system and has reached much more than 41 million learners globally. In 2020, the enterprise was acknowledged as 1 of the World’s Most Innovative Firms by Quickly Organization and was featured on Fortune Magazine’s Influence 20 checklist. Some of America’s main CEOs and venture funds companies are EVERFI traders which include Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as perfectly as Progress, Rethink Education and learning, Rethink Affect, The Rise Fund, and TPG Progress. To study additional about EVERFI and how you can #answerthecall be sure to go to everfi.com or abide by us on Fb, Instagram, LinkedIn, or Twitter @EVERFI.
About Varo Financial institution, N.A.
Varo Financial institution is on a mission to make economical inclusion and opportunity a actuality for all – by empowering men and women with the goods and aid they want to produce balanced fiscal behaviors and be in regulate of their finances. Varo Financial institution presents consumers top quality lender accounts that have no minimal balance necessity or regular account payment, high-fascination personal savings accounts, and tech-to start with functions to aid men and women help you save and take care of their income simply. Varo Bank is the initially shopper fintech to be granted a nationwide bank charter by the Workplace of the Comptroller of the Currency and was named a single of Quickly Company’s Most Progressive Businesses for 2021. For extra information and facts, visit www.varomoney.com, like Varo Financial institution on Facebook, and adhere to us on Instagram and Twitter @varomoney. Member FDIC.
*Early entry to immediate deposit funds depends on the timing of the payer’s submission of deposits. We usually article such deposits on the day they are obtained which might be up to 2 days before than the payer’s scheduled payment day.
**Varo Progress is a small greenback line of credit history that should be repaid on time to proceed entry to the credit score line. Charges use. Merchandise eligibility and terms are out there in the Varo Advance Account Agreement.
***The Varo Believe that credit history card must be repaid on time to stay away from late fees. Ongoing use of the Varo Feel credit score card is contingent on well timed payment. Products terms are out there in the Varo Feel Account Settlement & Disclosures.
Media Get in touch with: Consort Associates for Varo Financial institution, [email protected]
Resource Varo Bank