Together with Assemblyman Clinton Calabrese (D-Bergen, Passaic), Cross River Bank (“Cross River”), a New Jersey financial institution known for its innovative use of new technology, initiated a day of Financial Literacy Education for high school students in Cliffside Park this week. Cross River employees presented on topics such as credit scores, careers in banking and managing a budget to grades 10 through 12 at Cliffside Park High School.
“Given the fact that it is estimated that almost two-thirds of Americans are unable to pass a basic financial literacy test, I appreciate Cross River’s financial literacy initiative and am happy to assist in making sure that our children and young adults are receiving the knowledge and skills they need to make informed financial decisions throughout their lives,” said Assemblyman Calabrese. “Understanding budgeting, aspects of borrowing and credit, as well as saving and investing, is necessary for future financial success and security.”
This effort comes on the heels of other financial literacy events Cross River has been holding with other local elected officials. As a leading fintech bank, Cross River is taking an innovative approach to financial literacy education by highlighting how technology has the potential to support greater financial inclusion while ensuring consumer protection.
“We are proud to partner with Assemblyman Calabrese, a rising star in the community and in Trenton, to bring financial literacy to the classroom,” said Phil Goldfeder, SVP, Public Affairs, Cross River. “We recognize the importance of community service and created the Cross River Financial Literacy Initiative to give families the tools and resources they need to make the right financial decisions.”
“The administration and students are grateful for the opportunity provided by Assemblyman Clinton Calabrese and representatives from Cross River Bank for their commitment to promote sound financial decision making amongst our youngest consumers,” said Lawrence C. Pinto, principal, Cliffside Park High School. “Over the course of the day, representatives provided engaging opportunities to plan, budget, invest and make decisions to impact their future. Assemblyman Calabrese recognizes the power and potential in youth and is committed to ensuring they have the appropriate tools to move forward and succeed in our rapidly evolving society.”