Bank Honored for Financial Literacy, Support to High School for Teen Moms

Originally published on U.S. Bank company blog

Last year, amid the festivities for the 2024 graduating seniors at Florence Crittenton High School, a team from U.S. Bank was there to open bank accounts for some 20 graduating seniors, and each was given a $250 check to fund the newly opened accounts.

The new accounts were a part of a broader financial literacy initiative provided by U.S. Bank to cover the basics of banking for the students at the Denver nonprofit Florence Crittenton Services (FloCrit), a two-generation wraparound service provider for teen mothers that offers a Denver Public School system high school for the mothers and an early childhood education center for their children.

“It was an incredible experience for our graduating seniors and an impactful event to ensure they were prepared to take the next step,” said Theresa Garcia, FloCrit director of development. “One of our goals at Florence Crittenton is to prepare these young women to succeed, and how much can you really do in the world without a bank account? Being able to give them that opportunity, show them how online banking works, how to log in into the app and how to keep personal information safe is important.”

Financial education efforts like the senior bank account day are among the reasons FloCrit will recognize U.S. Bank with the 2025 Charles Crittenton Community Partner Award, given annually to an individual or institution that supports the work of Florence Crittenton Services, at a gala later this month.

“FloCrit has been a U.S. Bank Foundation grantee for over a decade, but the efforts outside of financial contributions have made this a true partnership,” said Marcia Romero, community affairs manager at U.S. Bank. “They do such an incredible job in the way they empower their students, creating a culture of belonging and inclusivity. We’re proud to fit into their programming in an authentic way.”

Reloadable card program

FloCrit has provided direct cash assistance to families for many years via a combination of petty cash and gift cards for needs like gas, food and parenting supplies. During the COVID-19 pandemic in 2020, the program faced challenges including the inability to see students in person to provide funds in a pinch.

FloCrit brought the problem to U.S. Bank, which was able to provide a solution through a reloadable debit card program that allowed FloCrit to load funds onto the cards, get them in the hands of the students and reload them as needed.

“Our staff quickly delivered the cards throughout the Metro area,” Garcia said. “Whenever there was a need, a student could talk to their family advocate, who would put in a request for more funds. It made everything so much simpler.”

Aside from the flexibility the cards provided, they were also a natural opportunity to teach the students basic financial literacy skills.

“It was a great experience to teach the students how to use a debit card, budgeting and accountability,” Garcia said. “Financial education for young people opened up so many more opportunities for us.”

The nonprofit still uses the card program, giving each student a card that they can use at stores, withdraw funds at ATMs and reload as needed. U.S. Bank community affairs manager Marcia Romero, an advocate for the program, attributes the program’s success to the partnership with the bank’s business lines to quickly solve the problem.

“U.S. Bank has always had an open and transparent relationship with FloCrit, so when they came to us with the challenges of delivering funds, we quickly got to work,” Romero said. “I made a few phone calls to our bankers, and we were able to get things in place in just a few weeks. There were some hurdles, but I am proud of the way we rallied together to get these students and teen mothers the financial resources they needed at a time when they needed them most.”

A Full Circle Moment

At the 2024 graduating senior bank account day event was Gina Chavez, manager of a U.S. Bank branch in south Denver and a Florence Crittenton graduate herself.

Before joining U.S. Bank 30 years ago, Chavez was pregnant with her daughter and facing the challenges of a mother-to-be while trying to finish her schooling when she learned about FloCrit.

“With everything going on at the time, I knew how important it was to finish my high school education,” Chavez said. “It wasn’t only meaningful for me, but for the future of my baby. Florence Crittenton provided me the support I needed, whether that was through education, the nurses on staff, free baby supplies and lessons that prepared me to succeed in my career.”

Chavez said her career at U.S. Bank is a testament to the doors that FloCrit opened for her, and she feels love and passion for both organizations.

Chavez said she recently opened accounts for a current third-year student at FloCrit.

“I asked her what her plans were after graduation and how she wanted to utilize these accounts,” Chavez said. “The young woman told me said she wanted to get into nursing to help deliver babies and purchase her first car. I knew she was on the right path.”