Arvest Bank today announced the introduction of EmpowerED, a new bilingual mobile-first financial education resource to help consumers build financial health and confidence for themselves and their families. The platform is made available, free of charge, through Arvest’s relationship with EVERFI® from Blackbaud®, the leader in powering social impact through education.
Available in English and Spanish, EmpowerED offers a robust library of learning topics around important personal financial education concepts including budgeting, investing, homeownership, retirement planning, and more. The interactive financial education platform is designed to provide consumers with the tools and personalized knowledge necessary to make informed just-in-time financial decisions. Another component of EmpowerED is a library of workshop materials Arvest associates can use for in-person classes within the community.
The program is being led by the Arvest Opportunity Fund, a wholly owned non-bank subsidiary of Arvest with a mission of investing in people through finance and education.
“Arvest views this investment in financial education as needed support for our customers and communities,” said Hillis Schild, executive director of the Arvest Opportunity Fund. “Providing financial education – whether it be via our new online platform or in-person workshops – can have real impact on people’s financial situations and their lives. Just as Arvest wants to be the financial services provider of choice in the communities we serve, we also want to be the financial education provider of choice.”
A 2019 EVERFI study found that 78 percent of adults wish they had more information readily available when making financial decisions. Additionally, according to the Milken Institute, only 57 percent of adults in the United States are financially literate. From opening a credit card to taking out a student loan, buying a home, or saving for retirement, most adults feel unprepared to make large financial decisions without additional information. Through EmpowerED, users are guided through interactive exercises that allow them to practice making financial decisions most relevant to them in a fail-safe environment. Each topic area offers a 3-6 minute module designed to enable users to apply what they have learned to their personal financial goals. The mobile-first design is available on all internet-enabled devices so that learners can access it anytime, anywhere.
“Understanding your finances and making sound financial decisions is key to a strong future, but many people don’t know where to turn to get the information they need in a way that is easily digestible and understandable,” said Ray Martinez, co-founder and president, EVERFI from Blackbaud. “This program is a testimony to EVERFI’s commitment to providing financial education to learners of all ages, and we commend Arvest for making this commitment to educate their consumers, allowing them to take control of their financial health.”
To learn more about the program, visit arvest.com/empowered.