The two largest banks based in Wisconsin, Associated Bank and Marshall & Ilsley Corporation,often partner with nonprofit organizations in their efforts to enrich the quality of life in the community and to better understand the needs of those they serve.
A particularly innovative partnership is with Make a Difference-Wisconsin (MAD-WI), an organization that aims to teach teens basic personal financial management skills before they leave high school.
MAD-WI trains volunteers to teach eleventh and twelfth grade students the basics of banking, budgeting, savings, checking, investments, credit, and interest. The curriculum's message focuses on empowering students and the importance of making sound personal finance decisions for a positive future.
Associated and M&I provided critical start-up funding for the program's launch in 2006. In addition, the banks foster volunteerism among employees to donate their time and their talent as MAD-WI instructors at Milwaukee-area schools.
Nearly two dozen Associated and M&I employees have taught the curriculum, which is typically delivered in six visits to the classroom.
"Students gain essential skills such as opening and maintaining an account; reading monthly statements; and understanding the value of compound interest from a professional in the banking industry," said Brenda Campbell, executive director for Make A Difference-Wisconsin. "These volunteers are not only educators but also role models for the students."
Ammar Askari, M& I Bank's VP and Community Education Administrator and MAD-WI board member, has added immense value to the program including developing curriculum, training volunteers, designing testing materials, and creating an outcome measurement database.
Murray Friedman, Senior VP/Director-Product Management for Associated Bank, has served as a MAD-WI instructor for two years. At Murray's most recent teaching experience at Riverside University High School he explained, "By reaching these students early, I know we can help them develop smart financial habits now and avoid overdrafts, expensive check cashing stores and even credit card abuse."
By summer 2009, MAD-WI will reach more than 6,000 students in over 50 high schools. MAD-WI's future goals include increasing the number of volunteers to 600 and eventually expanding statewide.
