Webster Bank grant funds financial literacy with Boys & Girls Club of Providence

Webster Expands Finance Lab with $100,000 Grant to Boys & Girls Club of Providence – only funding recipient in Rhode Island to collaborate with the bank on its financial empowerment program for students

Webster Bank is expanding its Finance Lab collaborations with three new partners to provide financial empowerment programs to students in low- to moderate-income (LMI) areas. In Rhode Island, Webster has awarded a $100,000 grant to the Boys & Girls Clubs of Providence, making the organization the bank’s first and only location in the state for the initiative. 

The Finance Lab is part of Webster’s multi-year, multi-billion-dollar Community Investment Strategy to help nonprofit partners in LMI communities create opportunities for young people to gain skills needed for economic empowerment and financial success. The initiative launched in June 2022, and to-date has invested $1.7 million through partnerships with nine nonprofits. 

“We’re proud to work with organizations so deeply rooted in the communities we serve and whose missions align with ours,” said Marissa Weidner, Webster’s Chief Corporate Responsibility Officer. “These partnerships enable us to expand our Finance Lab initiative, supporting our commitment to creating economic vitality in the neighborhoods where we live and work.”

Webster’s grant to the Boys & Girls Clubs of Providence will fund specialized finance software and curriculum for its high school-age members, with the organization implementing Finance Lab programming through its STEM club, summer youth employment, and ‘Career Launch’ initiatives. Additionally, the grant will support a financial empowerment curriculum for 10-13 year-old students and families/parents.

“Financial literacy is a crucial skill and an important step in preparing our members for success and supporting their economic stability in the future. We are thrilled to partner with Webster Bank to bring this opportunity to our teens and help foster the skills needed to achieve their financial goals. This is a great example of a local business investing in the lives of our youth and in their community,” said Nicole Dufresne, CEO, Boys & Girls Club of Providence.

To date, Webster has launched Finance Labs with these nonprofit partners:

• Yonkers Partners in Education, Yonkers, N.Y.
• Eagle Academy Foundation, with six locations in New York and New Jersey
• Wakeman Boys & Girls Club of Bridgeport, YWCA of Greater Hartford and The Hispanic Coalition of Greater Waterbury, all in Connecticut and,
• Taunton Area School to Career Finance Lab in Massachusetts

Webster will celebrate the opening of the Taunton location in October.

Learn more about Webster Bank’s commitment to good corporate citizenship by visiting its Office of Corporate Responsibility.