Webster Bank Supports Connecticut Financial Scholars with a Three-Year, $300,000 Grant

Webster Bank has announced a $300,000 grant for Connecticut Financial Scholars as part of its ongoing support of programs designed to help students build financial empowerment.

Webster Bank is the lead sponsor, establishing the Financial Scholars program in Connecticut after many years of proven success in Philadelphia. The three-year grant supports programming and teacher training including curriculum and paid teacher professional development for in-school financial literacy education, afterschool investing enrichment, paid summer workforce development for teens, and adult workshops in the school community.

Connecticut Financial Scholars has launched with 26 school partnerships in the 2025-2026 school year and will expand to 75 schools and serve more than 5,000 students by end of the 2027-28 school year.

“Our support of Connecticut Financial Scholars reflects our commitment to advancing financial empowerment, one of our core philanthropic pillars,” said Marissa Weidner, Executive Vice President and Chief Corporate Responsibility Officer, Webster Bank. “We are proud to ensure this program continues to invest in schools across the state by providing hands-on relevant approaches to educate and financially empower students. We look forward to helping Connecticut Financial Scholars expand its reach and build lasting partnerships.”

Officials note that Connecticut has two relatively new policy initiatives aimed at reducing the wealth gap in the state: a financial literacy education high school graduation requirement and a Baby Bonds program. Financial Scholars has “a track record of effective implementation and is ready to bring our successful programming to Connecticut.”

“Webster’s support has enabled us to lead school-based financial education implementation in Connecticut,” said Nancy Kail, Executive Director, Connecticut Financial Scholars. “Together, we’re reaching more teachers, students and families with the tools they need to build financial knowledge and confidence. We want to thank them for their support and powerful investment in the future of our youth.”

Officials point to revealing statistics that underscore the need for the program:

• 65% of students in Connecticut have access to a fully dedicated personal finance class. In urban school districts, fewer than 5% of students are guaranteed to take a personal finance class.

• High school students living in rural areas are three times more likely to take a financial literacy course than those at urban schools, according to Next Gen Personal Finance.

• High schools where more than 75% of students are Black or Hispanic are half as likely to require these courses compared to schools where fewer than 25% of students are Black or Hispanic.

In addition, according to Webster’s 2023 Financial Empowerment Study, only 27% of U.S. consumers reported receiving any type of financial education in middle or high school. The study, which examined financial challenges faced by consumers, found middle school and high school students who received financial education are more likely to feel “fully in control” of their finances (49%) compared to those who did not receive any financial literacy courses (25%).

Connecticut Financial Scholars includes curriculum and professional development for daily in-school financial literacy education, afterschool investing enrichment powered by corporate volunteers, paid summer internships, and evening financial empowerment workshops for adults in our school communities.

The partnership also includes opportunities for Webster Bank colleagues to volunteer as classroom guest speakers and career panelists as well as at other events like the organization’s signature Teen Investors Summit and financial reality fairs.

“Connecticut can become a role model for combatting income disparity and generating economic opportunity for all,” the organization’s website points out.  Learn more at www.connecticut.financialscholars.org.

Participating schools in Connecticut include: Bloomfield High School, Bridgeport Military Academy, Brien McMahon High School, Classical Magnet High School, Cooperative Arts and Humanities Magnet High School, Eli Whitney Technical High School, Engineering & Science University Magnet School, Fairchild Wheeler Inter-district Magnet Campus, Francis T. Maloney High School, High School in the Community, Hill Regional Career High School, James Hillhouse High School, Metropolitan Business Academy, New Britain High School, New Haven Academy, New Haven Adult and Continuing Education, Norwalk High School, Orville Platt High School, Stamford High School, The Sound School, Thomas Snell Weaver High School, Tourtellotte Memorial High School, Warren Harding High School, West Haven High School and Wilbur Cross Comprehensive High School.