$1,000 Financial Literacy Contest for Middle Schoolers

To be eligible to enter, children must be 8 to 12 years old and read the book I Got Bank!

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Are you 8 to 12 years old, or do you know someone who is? OneUnited Bank is sponsoring its fifth annual essay contest to promote financial competence in urban young people. To be eligible to enter the contest, children must be 8 to 12 years old and read the book I Got Bank! or a similar financial book of their choice, and write a 250-word essay about how they plan to apply what they’ve read to their lives. The deadline for submissions is June 15, 2015. OneUnited will choose three winners, each of whom will be awarded a $1,000 OneUnited Bank savings account by August 15, 2015.

[Related: The State of Black America-By the Numbers: Part 1, Education]

Teri Williams, president of OneUnited Bank, is the author of the children’s book I Got Bank! She wrote it out of a concern that there were so few books addressing finance that targeted urban youth. “I am very excited that there is more focus on financial literacy today than five years ago when we launched our essay contest,” Williams said in a statement. “Many organizations–including other banks–offer financial literacy workshops for adults and kids.” OneUnited also offers summer financial workshops for adults.

Last year’s essay winners hailed from both coasts: Amaya Horace of Bowie, Maryland, age 12; Chase Abner, of Los Angeles, age 12; and Damoni Swain of Dorchester, Massachusetts, age 10. The students wrote about the importance of saving money and starting a business, according to OneUnited.

OneUnited enjoys the No. 2 spot on the BE Banks list and has $616 million in assets. It is based in Boston.

For more information about OneUnited or the essay contest, go to www.oneunited.com/book.