Independent Banker - April 2023 - 65

Webster Bank's financial literacy labs
To help the children of low- to moderate-income families, Webster Bank made a $100,000 donation
to the Wakeman Boys & Girls Club to aid financial education. By Jen A. Miller
hen the new Wakeman Boys
& Girls Club Madison Avenue
Community Clubhouse opens this
fall, it will have just about everything
Bridgeport, Conn., kids and teens
could want. The two-story, 44,230
sq. ft space will include a gym, clinic,
game room, kitchen and café, STEM
learning space, and performing
arts studio.
W
And, thanks to a $100,000 grant
from Webster Bank in nearby
Stamford, Conn., it will also have
a place students can learn about
personal finance: a " finance lab. "
The finance lab in Bridgeport
will meet two pressing community
needs, according to Margaret
Reynolds, director of foundation and
government relations at Wakeman
Boys & Girls Club. " This partnership
with Webster Bank fulfills what
we're looking to do with workforce
development with careers in banking
but also just being able to manage
personal finances, " she says.
" We look to partner with
organizations that have a proven
track record of positive impact on our
youth, " says Marissa Weidner, chief
corporate responsibility officer of the
$71.2 billion-asset community bank.
And the Wakeman Boys & Girls Club
fit the bill perfectly.
The youth impact
The finance lab at the Wakeman
Boys and Girls Club is the third grant
Webster Bank has made for financial
literacy initiatives.
The first grant went to Yonkers
Name:
Webster Bank
Assets:
$71.2 billion
Location:
Stamford, Conn.
Partners in Education (YPIE) in
Yonkers, N.Y. in May 2022. The
funds were used to develop the YPIE
Finance Major, which provides
financial literacy education to
students within the program, most of
whom come from low- to moderateincome
families. The second grant
was given in October 2022 to the
Eagle Academy Foundation. It funded
finance software and curriculum for
students enrolled in Eagle Academies,
which are located in New York City
boroughs and Newark, N.J.
Each finance lab is designed
to serve the specific needs of its
home community, as determined
by Webster's nonprofit partner,
according to Weidner.
For example, Bridgeport students
often come from low-income
backgrounds and tend to be behind
in literacy, math and science. That
local knowledge informs how the
Bridgeport finance lab will operate
and the services and education it
will provide.
independentbanker.org // 65
" We're trying to
make sure our
young people
make financially
sound decisions
for themselves
and their families
in the future. "
-MARISSA WEIDNER,
WEBSTER BANK

http://www.independentbanker.org

Independent Banker - April 2023

Table of Contents for the Digital Edition of Independent Banker - April 2023

Independent Banker - April 2023 - Cover1
Independent Banker - April 2023 - Cover2
Independent Banker - April 2023 - 1
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Independent Banker - April 2023 - 24A
Independent Banker - April 2023 - 24B
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