Introducing Personal Finance to Teens in San Antonio
Capital One/Junior Achievement Mobile Finance Park Gives Financial
Literacy Lessons to Local Middle School Students
SAN ANTONIO--(BUSINESS WIRE)--May 8, 2008--Capital One Financial Corporation (NYSE:COF) and Junior Achievement have brought Finance Park(TM), an innovative mobile financial education program, to San Antonio for the first time.
The program will teach basic money-management skills to nearly 1,000 middle-school students from the San Antonio Independent School District. The program runs May 1 through June 3 at the Alamo Stadium Convocation Center.
This unique, award-winning program begins with four weeks of intensive in-classroom financial education lessons developed by Junior Achievement. Students then have the opportunity to put their newly learned money management skills to the test in a high-tech learning lab. This innovative learning environment, called Capital One/Junior Achievement Finance Park(TM), houses a mock city where students can experience the challenges of making real-life financial decisions.
While at Capital One/Junior Achievement Finance Park(TM), the students are assigned fictional jobs, incomes, families and expenses. They are then expected to develop and stick to appropriate budgets. Students are faced with real-life decisions about housing, furnishings, investments, food, entertainment, phone, cable, savings, and charitable contributions - all of the decisions they will ultimately make upon entering adulthood. More than 100 Capital One Bank associates will mentor the students along their financial journey at the park.
"Basic money-management skills are crucial building blocks for economic self-sufficiency, yet research shows that many students are unable to effectively manage their finances when they graduate from high school," said Joe Burke, President, Junior Achievement of South Texas. "The hands-on financial education provided at Capital One/Junior Achievement Finance Park(TM) helps students succeed now and as adults by giving them practical money management skills. We are thrilled to have Capital One/Junior Achievement Finance Park(TM) in San Antonio."
The first Capital One/Junior Achievement Finance Park(TM) began as a pilot in October 2006, in McLean, Va. The pilot was such a resounding success that the two organizations have since expanded the initiative to nine markets serving more than 12,000 middle-school students through 2008. The Finance Park curriculum aligns with state learning standards and helps teachers meet requirements for personal financial education needed for high school graduation in Texas.
"I think it's critical for our students to be financially literate," said Dr. Robert Duron, Superintendent, San Antonio Independent School District. "Capital One/Junior Achievement Finance Park(TM) not only teaches these skills, but also helps students connect education to future earning power. I would like to thank Capital One and Junior Achievement for providing our schools the opportunity to participate."
"Our investment in Capital One/Junior Achievement Finance Park(TM) is more than just doing the right thing; it teaches students important skills that they can use for the rest of their lives," said Ricky Otey, president, Capital One Bank-Texas, which operates approximately 17 full-service branches in Central Texas. "Our associates who volunteer at Finance Park are able to play a key role in encouraging financial literacy and economic opportunity. This is a unique and creative way to help youngsters become financially literate."
Please contact Steven Thorpe at 504-533-2753 for more information or to schedule a tour.
WHEN: May 1 through June 6, 2008
WHERE: Alamo Stadium Convocation Center, 110 Tuleta Dr., San Antonio, Tx. 78207
About Junior Achievement of South Texas
Junior Achievement of South Texas inspires and prepares young people to succeed in a global economy. JA's curriculum aligns with Texas education standards, provides a positive business role model, and forms an effective bridge between business and education.
JA programs have proven to be successful at raising students' educational and career aspirations and teaching students to create opportunities to achieve their goals. By pairing community volunteers with professional educators in classrooms throughout South Texas, our offices in San Antonio, Corpus Christi, and Laredo will bring economic education programming to approximately 62,000 students during the 2007-2008 school year.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $87.7 billion in deposits and $148.0 billion in managed loans outstanding as of March 31, 2008. Headquartered in McLean, Va., Capital One has 745 locations in New York, New Jersey, Connecticut, Texas and Louisiana. It is a diversified bank whose principal subsidiaries, Capital One, N.A., Capital One Bank (USA), N. A., and Capital One Auto Finance, Inc., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
CONTACT: Capital One Financial Corporation Steven Thorpe, 504-533-2753 Steven.email@example.com or Junior Achievement of South Texas Joe Burke, Executive Director 210-490-2007 X 112 JBurke@jast.org SOURCE: Capital One Financial Corporation