Webster Expands Finance Lab with $100,000 Grant to SCO Family of Services - SCO Family of Services (original) (raw)
September 18, 2024 / Independent Youth News
SCO is the only funding recipient on Long Island to collaborate with the Bank on its financial empowerment program
STAMFORD, CT Sept. 18, 2024 – Webster Bank is expanding its Finance Lab collaborations with three new partners to provide financial empowerment programs to hundreds of students in low- to moderate-income (LMI) areas. Webster is providing a $100,000 grant to SCO Family of Services, one of New York’s largest providers of essential human services, to launch the first Finance Lab on Long Island.
The Finance Labs are part of Webster’s multi-year, multi-billion-dollar Community Investment Strategy designed to help nonprofit partners in LMI communities create opportunities for young people to gain skills needed for economic empowerment and financial success. The initiative launched in June 2022 and to date has invested $1.7 million through partnerships with nine nonprofits.
The Finance Lab will be located on SCO’s Madonna Heights campus in Dix Hills, NY, and will play a crucial role in empowering the young women who reside on campus. These young women have faced a range of difficulties, including trauma, mental health issues, intellectual disabilities, and substance use disorder. In response to their unique needs, the Finance Lab will provide tailored financial literacy education designed to equip them with essential skills for achieving financial independence and stability.
“We are grateful to Webster Bank for empowering the youth we serve with the gift of financial literacy. We know that with the right tools and support our young people can and will successfully transition to adulthood. Financial literacy plays an essential role in their success and ongoing financial stability. This first-of-its-kind Finance Lab on Long Island will equip young people with the power and knowledge to thrive emotionally, socially and financially,” said Suzette Gordon, President and CEO of SCO Family of Services.
“We’re proud to work with organizations so deeply rooted in the communities we serve and whose missions align with ours,” said Chief Corporate Responsibility Officer Marissa Weidner. “These partnerships enable us to expand our Finance Lab initiative, supporting our commitment to creating economic vitality in the neighborhoods where we live and work.”
To date, Webster has launched Finance Labs with these nonprofit partners:
- Yonkers Partners in Education, Yonkers, N.Y.
- Eagle Academy Foundation, with six locations in New York and New Jersey
- Wakeman Boys & Girls Club of Bridgeport, YWCA of Greater Hartford and The Hispanic Coalition of Greater Waterbury, all in Connecticut and,
- Taunton Area School to Career Finance Lab in Massachusetts
Learn more about Webster Bank’s commitment to good corporate citizenship. Click here for more about our Office of Corporate Responsibility.
About Webster
Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and Healthcare Financial Services, one of the country’s largest providers of employee benefits and administration of medical insurance claim settlements solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $77 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
About SCO Family of Services
SCO Family of Services is one of the largest human services agencies in the metropolitan area, serving 50,000 New Yorkers each year. We help New Yorkers build a strong foundation for the future. We get young children off to a good start, launch youth into adulthood, stabilize and strengthen families and unlock potential for children and adults with special needs. SCO has played a vital role delivering human services in communities throughout New York City and Long Island for over 125 years. For more information, please visit www.sco.org.