CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – Most parents hope that their children will develop solid financial habits that will help them avoid debt and one day put them in a position where they are not dependent on them for their financial well-being.

While some parents do their best to impart responsible fiscal habits including the value of saving money and establishing credit, the vast majority do not have the time to fully engage in teaching financial literacy, especially when it comes to investing and creating long-term wealth.  These are also skills that are not necessarily emphasized in the school system either.

But now one local financial institution is looking to equip young people in our community with the skills they need to become the next set of business professionals and entrepreneurs.

Virginia National Bank has established a new educational curriculum for teens fill the financial literacy void that so many families are dealing with.  Meghan Crider, President of Educational Programs for the bank recently explained the concept on the “My Forever Bank, Personal Stories” podcast.

“The Finance Career and Leadership Academy, or FCLA, is a free, in-depth, challenging educational program developed by Virginia National Bank for high school juniors and seniors. It helps students build strong foundations in personal finance, banking, professional skills and career readiness, getting prepared for going out into the workforce.” Crider said. “It also provides an opportunity, a unique opportunity for young people interested in a career in banking and finance because the top performers in the academy are then considered for VNB’s college program.”

The free high school program is something that local students need to apply for but presents a great chance to pursue a path early on in life, which can be a critically important head start on building wealth and creating career opportunities.

“What we’re looking for is highly motivated students because this is a very challenging program” Crider continued. “But it’s very rewarding, you’re learning how to build wealth. You know, you’re learning how to get yourself to be (at a place that) you can outperform your competition when you’re going out there in the work force. And it basically is an opportunity too to actually get your college degree paid for by Virginia National Bank while at the same time working for them and all you’re doing for like the first six months is doing your classes here at the bank.

“We do it as an online partnership, you get a certificate for up to 15 courses, (which is) 39 credit hours. So, you’re almost getting two years’ worth of schooling within your first six months and all you’re doing is coming in here and doing college work and you’re getting paid full-time with full benefits.”

While it may seem like the focus is preparing young people for a career in banking, Crider is quick to point out that the FCLA is more about personal financial literacy and leadership skills that can be applied in any career field.

“It’s open to everybody in any field they’re going into. We’ve had people who got into the FCLA who’ve gone on to major in theater, who’ve gone on to major in fine arts. Whatever field you’re going into, you need to know how to manage money well and how to leverage it so that your money works for you and that’s what this program does. It teaches you how to do that. It teaches you how to present yourself professionally so that once you get a job, how to outperform the people you work with so that you get promoted.”

Virginia National Bank is also holding some community information sessions for parents and students who might be interested in this free financial literacy and leadership development opportunity. The first will be Oct. 20 from 6:30-8:30 p.m., followed by another on Nov. 5 at the same time. Both will take place at VNB’s office on Pantops.

The application deadline for interested students is Nov. 20 by midnight, and the next FCLA academy course will begin during the spring semester, with classes starting on Jan. 11.  You can learn more about the program by listening to the “My Forever Bank, Personal Stories” podcast below.