Bank of Clarke Becomes First Community Bank in Virginia to Partner with Greenlight to Enhance Financial Literacy for Children

BERRYVILLE, Va., July 22, 2024 /PRNewswire/ -- Bank of Clarke has announced a new partnership with Greenlight^® Financial Technology, Inc. Through this collaboration, Bank of Clarke customers will receive free access to the award-winning Greenlight family finance app as part of the Greenlight for Banks program. This initiative underscores Bank of Clarke's dedication to serving its footprint by promoting financial literacy.

"Bank of Clarke's partnership with Greenlight will empower our customers to educate their children about money management, fostering healthy lifelong financial habits," said Brandon Lorey, President and CEO of Bank of Clarke. "We're proud to be the first community bank in Virginia to offer this innovative program. Some of our senior staff are already using it with their children and have given it rave reviews."

Greenlight provides parents with a convenient, cashless solution to automate allowance payments, manage chores, set flexible spending controls, and send money instantly. Children gain practical money management experience by learning to earn, save, donate, and spend wisely under parental supervision using the Greenlight debit card and app. Children also get access to Greenlight Level Up^™, an in-app financial literacy game with an excellent curriculum, educational challenges, and rewards.

"We created the Greenlight for Banks program to assist financial institutions in better serving families and engaging the next generation with top-notch financial education," said Matt Wolf, SVP of Business Development at Greenlight. "Community banks like Bank of Clarke are ideally positioned to enhance financial literacy thanks to their strong community ties and exceptional customer care."

As of July 16, 2024, Bank of Clarke customers can register online at greenlight.com/clarke to receive a free Greenlight subscription and link their Bank of Clarke account as a funding source. Parents can add up to five children, each with their own debit card.      

About Bank of Clarke

Founded on April 1, 1881, Bank of Clarke now operates 14 full-service branches, two loan production offices, a wealth management office, and one drive-through only facility. The main office is located at 2 East Main Street in Berryville, Virginia, with additional offices in greater Clarke County, Frederick County, Fauquier County, Loudoun County, Fairfax County, and the City of Winchester, VA, as well as an office in Frederick, Maryland.

Bank of Clarke's mission is to be a trusted partner in the communities it serves, providing financial solutions to help people achieve their financial goals at every life stage. The bank aims to build lifelong relationships with customers, employees, shareholders, and communities, maintaining its status as a high-performing, independent community bank that offers best-in-class technology, products, and services. For more information, visit www.bankofclarke.bank. Member FDIC.

About Greenlight

Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart kids. Its product, Greenlight, is an award-winning banking app, complete with a debit card for kids and teens and safety features for the whole family. Parents can automate allowance, manage chores, set flexible spending controls, and invest for their family's future. Kids and teens learn to earn, save, spend wisely, give, and invest. Together, families can also stay safe and connected with location sharing, SOS alerts, crash detection with 911 dispatch, driving scores, reports and real-time trip alerts.

Greenlight partners with more than 60 leading banks, credit unions, and employers to bring its family finance solution to more families through the Greenlight for Banks, Greenlight for Credit Unions, and Greenlight for Work programs.

The Greenlight Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. Greenlight Investment Advisors, LLC, an SEC Registered Investment Advisor, provides investment advisory services to its clients. Investing involves risk and may include the loss of principal. Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Greenlight's bank partners. For more information, please visit: greenlight.com. 

SOURCE Bank of Clarke

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