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OneUnited, the largest Black-owned bank in the U.S., is on a mission to end financial illiteracy. Consider this: It is estimated that 67% of the world’s adult population is financially illiterate, meaning they lack an understanding of basic financial concepts. There’s a danger in not understanding finances. Not only does financial illiteracy make it easier to take advantage of a person, but it also prevents that person from building wealth using basic financial strategies.
OneUnited continually rolls out new, innovative financial education programs for its customers and the community to enjoy, but working with adults is not enough. Bank leaders want to reach community members while they’re young and open to new ideas. Ideally, these children will grow in financial confidence and move into adulthood as savvy wealth builders.
A contest and a partnership
This month, as our nation commemorates the emancipation of enslaved people, OneUnited is sponsoring the 13th annual “I Got Bank” National Financial Literacy Contest. Each year, students from across the U.S. between the ages of 8 and 12 read a financial literacy book of their choice and either write a 250-word essay about what they learned or create an art project that illustrates how they might apply what they’ve learned in their daily lives. The bank chooses 10 winners and awards each a $1,000 savings account at OneUnited Bank.
What sets this year’s contest apart is that OneUnited has partnered with Visa and Marvel Comics to present material in a new way and get kids excited about personal finances. To that end, Marvel has created a one-of-a-kind Black Panther comic book called “Investing in Each Other!” Not only is “Investing in Each Other!” visually stunning, but it also manages to introduce financial concepts while holding off the bad guys. Making it even more special, Ant-Man, The Wasp, and The Incredible Hulk all make guest appearances.
OneUnited is offering this custom edition comic book at its branches in Boston, Miami, Los Angeles, and Compton on a first come, first served basis. And every child who submits their contest entry online can access a free digital version of the Black Panther comic book. In addition to the comic book, children who enter the contest will also receive a free e-book called I Got Bank. I Got Bank is a children’s book by OneUnited Bank President Teri Williams.
