The following information is from Cambridge Savings Bank. Every Friday in March, the CSBsmart program will provide two sessions of financial education courses to Lexington High School students.

Cambridge Savings Bank recently expanded the CSBsmart Financial Education Program into 17 local communities in eastern Massachusetts.

Inspired by significant need in the communities it serves, Cambridge Savings Bank continues to broaden a high-quality comprehensive financial education program that is designed to reach every segment of local communities, regardless of age or economic background.

“Expanding the CSBsmart Financial Education Program fulfills a critically important aspect of the bank’s commitment to improve the financial well being of people living in the communities we serve,”said Robert M. Wilson, president and CEO of Cambridge Savings Bank.

The recent economic downturn and the nation’s slow recovery highlighted the significant need for individuals to better understand their finances, especially young adults and teens. Recent studies conducted during the past decade reported alarming results regarding the nation’s financial literacy. This was particularly true for teenagers, with studies showing that more than half of the nation’s youth lack competency in financial matters.

CSBsmart seeks to contribute to the economic development of our communities by empowering individuals with financial education and money management skills. The expanded CSBsmart program addresses the critical need for financial education through formal programs offered in elementary and high schools throughout eastern Massachusetts. 

Staffed by more than 25 bank employees who are trained financial educators, CSBsmart is comprised of 10 customized modules that familiarize participants with the basics of budgeting and saving, the importance of maintaining financial stability, credit and fraud protection, and easy-to-understand steps that allow anybody to learn how to appropriately manage personal finances.

“By helping people understand their finances regardless of their age or background, we are fulfillingan integral part of our mission as a community bank,” said Susan Lapierre, senior vice president ofcommunity relations and Community Reinvestment Act officer for Cambridge Savings Bank. 

For more information, please visit the Cambridge Savings Bank website, and click on the CSBsmart tab.