Junior Achievement and Citi partner in career program
Constance Taylor, Greg Murphy, and Tinika Page, students from Beaumont High School in the St. Louis Public School District, devised a winning strategy and were selected as finalists in a regional semi-final round of the first-ever “JA Banks in Action” North American Championship.
This team went on to compete in New York City against 10 other semi-finalists from Delaware, Florida, Missouri, Illinois, Nevada, Texas and Canada for the North American title.
“I learned how to run a bank, about loan rates, CD’s, and certificates,” Greg Murphy said.
“I’ve never been to New York. This competition gave me an opportunity to participate in a worldwide program with other cultures.”
While in New York City, the students, accompanied by JMVI staff, had an opportunity to tour the Citi building and dine at The Hard Rock Café in Times Square.
“The partnership with Junior Achievement and Citi provides a venue, The JA Banks In Action Competition, for students and mentors to come together and exchange a wealth of information,” said Fancheon Ford, director of volunteer recruitment/trainings at Junior Achievement of Mississippi Valley, Inc. (JAMVI).
“When I looked at the students from Beaumont High School, I realized they were not only learning about the business of banking but they were engaging in critical thinking and working as a team. Citi and Junior Achievement have shown the students at Beaumont High School that with education, perseverance, and hard work, they hold the key to their success.”
Geared to high school students, JA Banks in Action demystifies finance by explaining how a bank works. While exposing students to banking basics, operations and history, students learn about various career paths they can take in the financial services industry.
A computer simulation allows student competitors to role-play in high-level positions such as CEO and CFO, challenging them to successfully operate a bank in a dynamic environment where their decisions will make or break “their” bank. The students face off in an exhilarating game of financial know-how and skill, where good money management instincts are the key to survival.
“Citi is delighted to join JA Worldwide and share our knowledge, experience and excitement about the banking industry with students around the world through JA Banks in Action,” said Bill Beckmann, president of CitiMortgage.
“We hope young people will be inspired to pursue careers in the financial services industry and even more important, that they will gain an understanding of how financial institutions help people manage their money and achieve their life goals.”
“JA Banks in Action” was created by Citigroup Argentina and Junior Achievement Argentina in 1996; the program has been significantly enhanced and updated for 2007.
This year, “JA Banks in Action” expanded from its roots in Latin America to become a global program, with students from 28 countries and 16 states participating, thanks to a grant in excess of $2.7 million over three years to JA Worldwide from the Citi Foundation. The grant also enables JA Worldwide to build infrastructure which will allow it to easily translate “JA Banks in Action” into any language; it is currently available in English, Spanish, and Portuguese. The grant is part of Citi and The Citi Foundation’s 10-year, $200 million commitment to financial education.
During the 2006-2007 school year, an estimated 7,200 U.S. and Canadian students participated in the “JA Banks in Action” program. Citi employees across the region volunteer their time throughout the year to help broaden the financial understanding of students by teaching them to be entrepreneurs, to take risks, and to strive for excellence while maintaining high ethical standards.
“This exciting ‘JA Banks in Action’ tournament is a testament to the importance of students from different regions learning the value of teamwork, and how to compete effectively in the global economy,” said Lori Jacob, president of Junior Achievement of Mississippi Valley, Inc.
“Junior Achievement is grateful for the tremendous support of the Citi Foundation in making this program and competition possible.”