STATEN ISLAND, N.Y. — New York City public school students will be able to learn how to be financially responsible through a new pilot program bringing safe, affordable banking to schools.
Mayor Eric Adams, Chancellor Melissa Aviles-Ramos, and city Department of Consumer and Worker Protection Commissioner Vilda Vera Mayuga, announced the new pilot will introduce in-school banking services to students and their families, provide workshops on best banking practices, and, when possible, connect students to career development opportunities in the financial sector — all directly in school spaces starting next year.
“Equipping our students with financial literacy lays the foundation for their future success,” said Aviles-Ramos. “We are preparing students to make informed and confident decisions that impact their finances and build strong financial habits.”
It’s part of the mayoral administration’s Financial Literacy for Youth initiative, which aims to make sure every public school student can learn how to save and spend money by 2030.
On Wednesday, Adams unveiled the first 15 public schools and the first 12 financial institutions to participate in the pilot program, starting in 2026.
One public school on Staten Island will be part of the pilot program — The Eagle Academy for Young Men of Staten Island, in Stapleton.
Participating banks include: Bank of America; Brooklyn Cooperative Federal Credit Union; Citizens Bank; M&T Bank; Neighborhood Trust Federal Credit Union; PNC Bank; Ridgewood Savings Bank; TD Bank; Santander; Spring Bank; Urban Upbound Federal Credit Union; and Wells Fargo.
“If you don’t teach people how to use their money, they will lose their money. That’s why our administration launched a landmark initiative to make sure every public school student can learn how to save and spend money by 2030,” said Adams. “With this groundbreaking program, we’ll bring banking services directly to students and give them hands-on experience opening up a safe, affordable bank account, learning about financial products, and starting careers in banking and finance.”
The 15 schools will also serve as the first schools to receive financial educators. After six months, financial educators will expand their reach to serve additional schools. These financial educators will provide families with one-on-one free financial counseling, lead workshops for students and families, and help develop classroom resources for teachers to build responsible financial habits among students.
More than 350,000 public school students and their families will be served in the first five years of the program.
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