Customers Bank Launches Smart Money Financial Literacy Program for High School Students

WYOMISSING, Pa., Oct. 23, 2017 -- Customers Bank (NYSE:CUBI), the region’s leading community bank, announces that it has launched the Smart Money Financial Literacy Program, a new, free education offering designed to introduce financial literacy skills to high school students, and help them build the financial capacity they need to successfully transition into adulthood.

Recent studies show that one in five U.S. teens lack basic financial literally skills. In addition, a 2016 study by the FINRA Foundation found that an estimated two-thirds of Americans could not pass a basic financial literacy test – a percentage that has fallen consistently since the financial crisis to 37 percent last year, from 42 percent in 2009. And while 64% of Americans agree that money is a significant source of stress, only 43% of parents describe themselves as “well prepared” to discuss money with their children.  

Customers Bank’s Smart Money Financial Literacy Program is a state-of-the-art, web-based program powered by EverFi, and consists of 3-D gaming and simulated environments, avatars, Twitter-like messaging tools and videos. The course allows students to move through nine, 40-45 minute modules at their own pace. Engaging animations provide direct instruction on topics including filling out the FAFSA form, understanding a paystub, and buying a car.

The platform uniquely tracks the progress and performance of every student. Educators are able to see real-time data on student performance, while the technology aggregates crucial data on hours of learning completed and knowledge gains. Upon completion, students are Customers Bank/EverFi certified and receive a certificate during a formal ceremony.

“Financial education and literacy are the fuel that will empower the next generation of successful entrepreneurs, business owners, executives, community leaders, parents, teachers, consumers, and more,” said Richard Ehst, president and chief operating officer of Customers Bank. “By making the Smart Money Financial Literacy Program available for free in high school classrooms, we’re investing in the long-term economic success of our communities -- a goal that has always been among Customers Banks top priorities, and should be among everyone’s.”

Customers Bank’s Smart Money Program has already reached 179 students in Berks County and Philadelphia in pilot programs, and it launched to 90 additional ninth grade students at Roman Catholic High School in Philadelphia today.  Customers Bank plans to expand the program to reach students across Berks County PA, Philadelphia, Mercer County, NJ, and New York City.

About Customers Bank
Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $10.9 billion that was named by Forbes magazine as the 35^th Best Bank in America (there are over 5,700 banks in the United States). A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts, New Hampshire, and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Concierge Banking® by appointment at customers’ homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers.

Customers Bancorp, Inc. voting common shares are listed on the New York Stock Exchange under the symbol CUBI.  Additional information about Customers Bancorp, Inc. can be found on the Company's website, www.customersbank.com.

Customers Bank
1015 Penn Avenue
Wyomissing, PA 19610

Contact:
Richard Ehst
President & COO
610-917-3263