Washington Trust Announces Financial Literacy Initiative

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Apr 07, 2022, 15:23 ET

Multi-Year Funding and Free Tools for Schools and Community Groups

WESTERLY, R.I., April 7, 2022 /PRNewswire/ -- Washington Trust today announced a new Financial Literacy Initiative designed to provide individuals, families, businesses, and nonprofit organizations with the money management tools and resources they need to achieve economic empowerment. The Initiative has three components: $165,000 in multi-year funding to support literacy programs at the United Way of Rhode Island, Entrepreneurship for All Rhode Island (EforAll), and Amos House; a free web-based financial literacy program available to local schools and community groups; and a new Financial Wellness Center on the company's website.

"We believe financial literacy is critical in helping consumers, businesses and nonprofits become more money-wise, confident, and economically-empowered," stated Edward O. "Ned" Handy, Chairman & CEO. "For more than 221 years Washington Trust has been committed to providing funding and support to ensure our local economies thrive and we believe these programs are an investment in our future."

The first component of the Bank's Financial Literacy Initiative is a $165,000 multi-year commitment, from the Washington Trust Charitable Foundation, to three Rhode Island-based nonprofit organizations:

United Way of Rhode Island: Washington Trust has committed $90,000 to support the United Way's LIFT UNITED economic security programming. "We know that building economic security among our most vulnerable neighbors effectively changes lives, and we also know the work to accomplish this centers on being equitable. We look forward to working together to strengthen our communities today and for the future," said Cortney Nicolato, United Way's president and CEO.
Entrepreneurship for All Rhode Island (EforAll): Washington Trust is a founding partner of E For All Rhode Island and has committed $45,000 in support of the organization's investment in minority and women owned businesses. "An investment in EforAll means an investment to help under-resourced individuals in Rhode Island successfully start and grow businesses through intensive business training, mentorship and an extended professional network that will help the economy thrive," said Laura Guillen, Executive Director of Eforall | EparaTodos Rhode Island.
Amos House: Washington Trust has committed $30,000 to support the organization's Financial Opportunity Center (FOC). "This donation will help support our Financial Opportunity Center's mission of providing vital wraparound support services, education, and opportunities to our guests on their journey to self-sufficiency," said Eileen Hayes, President & CEO of Amos House.

The second component of the Bank's Financial Literacy Initiative is a web-based curriculum offered free-of-charge to schools and community groups through the Bank's partnership with Banzai, Inc. Washington Trust has committed to working with 28 middle schools and high schools throughout Rhode Island to offer teachers and students free, unlimited access to web-based modules and physical workbooks that cover important financial literacy topics.

The third component of the Bank's Financial Literacy Initiative is a new Financial Wellness Center which is housed on the Bank's website and contains articles, calculators, security and money management tips, as well as web-based learning tools and other resources. The site provides information on key topics such as household budgeting, managing debt, and buying a home. The Financial Wellness Assessment helps consumers analyze their spending, budgeting, and saving habits so they can set goals and improve their personal money management.

ABOUT WASHINGTON TRUST^®

Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast's premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.