Live from New York - It's Finance Park
Capital One and Junior Achievement Team Up To Give Financial Literacy Lessons to Middle School Students with Mobile Finance Park
NEW YORK--(BUSINESS WIRE)--April 30, 2008--Capital One Financial Corporation (NYSE:COF) and Junior Achievement bring Finance Park(TM), an innovative mobile financial education program, to New York for the first time this spring. The program will teach basic money management skills to more than 800 middle-school students from the New York metro region. The program runs April 28 through May 29 in Huntington Station, NY.
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 Doug Schallau, President, Junior Achievement of New York. "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 New York."
The first Capital One/Junior Achievement Finance Park(TM) began as a pilot in October 2006, in McLean, Virginia. 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 the Board of Regents requirements for personal finance education required for high school graduation in New York.
"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 David Dineen, New York State Leader, Capital One Bank, which operates approximately 350 full-service branches throughout the greater New York metro region. "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 Jacqueline Dolly at 212.949.5269 for more information or to schedule a tour.
WHEN: April 28 through May 29, 2008
WHERE: 1840 New York Ave. (RT 110), Huntington Station, NY 11746
About Junior Achievement of New York
Founded in 1929, Junior Achievement of New York, Inc. (JANY) is the New York affiliate of Junior Achievement Worldwide, the world's largest and fastest-growing organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, JANY provides in-school and after-school programs for students in grades K-12. JANY's educational programs focus on three key content areas - The Three Pillars of Student Success: financial literacy, entrepreneurship and work readiness. Last academic year, JANY's in-school and after-school programs served over 93,000 students in the NYC and Long Island geographic area. Today, Junior Achievement Worldwide reaches approximately 8 million students globally. For more information, visit www.jany.org.
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 financial services company 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
Lahne Mattas-Curry, 703-720-2358
Junior Achievement of New York, Inc.
Jacqueline Dolly, 212-949-5269
SOURCE: Capital One Financial Corporation