The bank reported that participating students’ confidence in budgeting increased from 77% to 84%, confidence in evaluating consumer purchases rose from 79% to 86%, and confidence in maintaining good credit increased from 75% to 84%.
“City National and LAUSD have shown what is possible when schools, community partners and educators make financial education a priority,” Everfi CEO Ray Martinez said. “California’s new requirement underscores the importance of this work, but LAUSD has long been leading the way. This continued investment will help more students graduate with the knowledge and confidence to navigate important financial decisions throughout their lives.”
“LAUSD has long recognized financial literacy as an essential life skill,” LAUSD Superintendent Andres Chait said. “Our goal is to ensure every student graduates with the knowledge and confidence to make informed financial decisions.”
City National employees will also participate in career panels, classroom programs and financial literacy events during the school year. The bank said it will provide scholarships to LAUSD students over the next three academic years, but did not specify the number or value of the scholarships.
City National has supported the Dollars + Sense program in LAUSD schools for more than eight years. The Los Angeles-based bank is a subsidiary of Royal Bank of Canada.