News Summary
Webster Bank, in collaboration with the Boys & Girls Clubs of Providence, has launched Rhode Island’s inaugural Finance Lab. This initiative, supported by a $100,000 grant, aims to enhance financial literacy among local youth through workshops and career panels. The program, part of a broader investment of $2.5 million in Finance Labs across the Northeast, seeks to instill confidence in financial decision-making, helping to secure the economic future of participants and their families.
Providence, Rhode Island
On July 15, 2025, Webster Bank in partnership with the Boys & Girls Clubs of Providence officially launched Rhode Island’s first Finance Lab, aimed at enhancing financial literacy among local youth. This initiative is supported by a $100,000 grant from Webster Bank, highlighting the bank’s commitment to empowering children and teens with essential financial skills for their future.
The newly established Finance Lab will facilitate interactive financial education workshops and career panels across eight Boys & Girls Clubs of Providence locations. These sessions are designed to help participants understand and navigate various financial challenges, ultimately fostering long-term economic stability for both the youths and their families.
In a broader context, Webster Bank has invested nearly $2.5 million in a total of nine Finance Labs across the Northeast. The ongoing program seeks to develop financial acumen among young individuals through strategic collaborations with nonprofit organizations. The primary goal of the Finance Lab is to instill confidence in financial decision-making, which can significantly enhance the overall well-being of the community.
Marissa Weidner, the chief corporate responsibility officer at Webster Bank, indicated that the bank’s efforts are focused on fostering economic prosperity in local neighborhoods. This Finance Lab initiative is part of a larger strategy that aims to uplift and equip young people, preparing them to make informed financial choices.
The launch event at the Fox Point Club on Ives Street was attended by members and leaders from the Boys & Girls Clubs of Providence. Notable attendees included Ranika Reyes, who is the financial education and constituent affairs director for the Rhode Island Treasurer’s office, further emphasizing the significance of financial literacy in the region.
Nicole Dufresne, CEO of Boys & Girls Clubs of Providence, commented that financial literacy is critical for ensuring a stable and successful future for young people. The interactive nature of the workshops, coupled with the guidance from Webster Bank volunteers, is expected to significantly impact the participants’ understanding of finances.
The Finance Lab marks a pioneering collaboration of its kind in Rhode Island, reflecting Webster Bank’s ongoing commitment to community investment. Previous Finance Labs have been established in other regions, including Hartford, Bridgeport, and Waterbury in Connecticut, along with Taunton and Dorchester in Massachusetts. Furthermore, financial education initiatives have been implemented in Metro New York, Long Island, and Yonkers, NY, since the program’s initial launch in 2022 with the first lab opening in Yonkers.
This initiative addresses a pressing need for improved financial literacy opportunities for the younger population. By providing educational tools, hands-on experiences, and practical guidance, the Finance Lab seeks to eliminate barriers and equip the youth with critical skills necessary for navigating the complexities of personal finances.
The collaboration between Webster Bank and the Boys & Girls Clubs of Providence is set to serve as a model for future programs, highlighting the importance of community partnerships in fostering economic growth and stability. Through the Finance Lab, the hope is to create a generation of financially literate individuals who are prepared to manage their economic futures responsibly.
Deeper Dive: News & Info About This Topic
HERE Resources
Brown University Launches AI Research Institute for Mental Health
Webster Bank Launches Finance Lab to Boost Youth Financial Literacy
Rhode Island Prepares for Record 4th of July Fireworks Celebration
Additional Resources
- Providence Business News: Webster Bank & Boys & Girls Clubs of Providence Open Finance Lab
- CSRwire: Webster Bank & Boys & Girls Clubs of Providence Celebrate Opening
- Turn to 10: Boys & Girls Clubs Partner with Webster Bank
- Encyclopedia Britannica: Financial Literacy
- Google Search: Financial Literacy Programs for Youth
