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Oak Valley Community Bank Reaches Students through Online Financial Education Program

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| Source: Oak Valley Community Bank

OAKDALE, Calif., April 27, 2017 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ:OVLY) is excited to announce that in the 2016-2017 academic year, six high schools within the Stanislaus and San Joaquin County region implemented Oak Valley Community Bank’s University of Finance, a digital financial education program.

Oak Valley partnered with education technology company EverFi, Inc., to bring this interactive, web-based financial management program to 4,440 students, which equates to over 30,000 modules, since the program’s inception in 2012. In 2016, the program reached six schools with 1,350 students completing over 7,750 learning modules, including; saving, banking, investing, financial higher education, renting versus owning, credit scores, taxes and insurance, and consumer fraud.

Oak Valley Community Bank initially launched the program in Patterson and Ripon High Schools in 2012. Today Escalon, Oakdale, Grace M. Davis, and Modesto High Schools have implemented the program.

“Oak Valley Community Bank is proud to empower students with the essential skills needed to make sound financial decisions. It’s a testament to our investment in the communities we call home,” stated Chris Courtney, President & CEO. “It is crucial that our younger generation understand important aspects of personal finance and the difference between wants versus needs, how to make a budget and plan for their futures. Oak Valley University of Finance provides them with the knowledge needed to successfully navigate the increasingly complex financial world in which we live.”

According to recent EverFi survey data, 87% of parents talk to their kids about money but only 43% of parents describe themselves as 'well prepared' to teach them about money, and many do not discuss complex concepts like credit, financing higher education, or building wealth. These statistics support the need for financial education in a school setting, where all students have an equal opportunity to learn essential financial skills.

Oak Valley’s partnership with EverFi, Inc. brings the program to local students at no cost to the schools or the taxpayer. Administered by teachers in a classroom, the online course offers over six hours of programming on a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401ks and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and performance of every user, further helping to set students on a path to financial security and a successful life.

In 2015, the Consumer Financial Protection Bureau (CFPB) highlighted EverFi’s schools-based financial education programs in a new report on Advancing K-12 Financial Education.

"Helping students and adults develop a foundation of financial understanding and capability is absolutely critical," said EverFi Founder and CEO Tom Davidson. We are grateful for our partnership with Oak Valley Community Bank who is tackling this issue head on and taking positive steps to prepare young people with the critical financial management skills needed to be savvy, responsible consumers.”

About Oak Valley Community Bank
Established in 1991, Oak Valley Community Bank offers a variety of loan and deposit products dedicated to serving the needs of individuals and small businesses. The Bank currently operates through 16 convenient locations: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop.

For more information on Oak Valley Community Bank, call 1-866-844-7500 or visit www.ovcb.com.

About EverFi
EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K-12 and college students in the critical skills they need for life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America’s leading CEOs and venture capital firms are EverFi investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, and Google Chairman Eric Schmidt. 

Learn more at everfi.com.

Contact:
Chris Courtney/Rick McCarty
Phone: (209) 848-2265
www.ovcb.com