Official State of Rhode Island website

State of Rhode Island Office of the General Treasurer James A. Diossa, General Treasurer

Treasurer Diossa, Navigant Credit Union, and Fidelity Launch Innovative Financial Education Program in Central Falls

Published on Monday, February 03, 2025

CENTRAL FALLS, RI – Today, General Treasurer James A. Diossa was joined by representatives from Navigant Credit Union, Fidelity and the Financial Capabilities Consortium to launch a pilot financial education program at the Calcutt Middle School in Central Falls. 

The program, dubbed the Financial Capabilities Consortium Pilot Program, will provide fifty Central Falls 8th graders and their families with a combination of FLY Initiative’s in-classroom financial literacy coursework and real-world exposure to local banking and financial services businesses. Participating students will receive a $50 savings account from Navigant Credit Union and access to investing simulation tools from Fidelity Investments. Students will also visit local Navigant bank branches and Fidelity’s Smithfield campus to experience firsthand what it’s like to work in the financial sector. Additionally, CFA Society Providence and Millennial RI will offer coaching on networking and skill-building, helping students develop confidence for their future careers.

“The earlier students learn about personal finances and the financial world in general, the better prepared they will be to navigate important life decisions and build wealth,” said General Treasurer James A. Diossa. “As a teenager, I didn’t have access to these important lessons. I’m excited to be launching the Financial Capabilities Consortium Pilot Program here in Central Falls today, empowering 8th grade students and their families with financial literacy skills and real-world experience.”

“Thank you, Navigant Credit Union, Fidelity, and all of the Consortium members, for being such dedicated local partners, and for your commitment to supporting financial literacy,” Diossa added. “This is exactly the type of program we need to support Rhode Island students and families as they work to build and retain wealth.”

“I applaud Treasurer Diossa, the Central Falls Public Schools community, and all private and public sector partners for their collaborative efforts to engage students and their families to make informed decisions about their finances,” said Commissioner Infante-Green. “We believe that financial literacy is a crucial aspect of a well-rounded education, and Rhode Island’s new Readiness-Based Graduation Requirements aim to ensure our students graduate with proficiency in it. We’re excited that the Financial Capabilities Consortium Pilot Program seeks to bridge student’s school day experience with community engagement and exposure to speakers and experiences that will prepare them for college and career readiness.”

"As someone who went to school here in Central Falls, I understand the challenges that many of our students face,” said Central Falls Mayor Maria Rivera. “Juggling school, working multiple jobs, helping family make ends meet. So many of our kids are learning the value of very hard work early on, but now, they will be empowered to take control of their financial futures. By equipping our 8th-grade students with real-world financial skills, we’re giving them the tools to build a foundation for lifelong success. I want to thank Treasurer Diossa for his leadership and commitment to our students, as well as our community and financial partners for making this possible. Together, we’re not just investing in education—we’re investing in opportunity, in families, and in the future of Central Falls."

“Navigant Credit Union is thrilled to be partnering with the Financial Capabilities Consortium, and our involvement in this Pilot Program at Calcutt Middle School is one of the many ways we are committed to improving the financial well-being of the communities we serve,” said Kathleen C. Orovitz, President & CEO of Navigant Credit Union. “We have served the Central Falls community for more than 100 years and look forward to supporting these efforts that will empower the future leaders of the community to achieve financial success.”

“Fidelity is committed to serving the communities where our associates live and work and we are honored to support the Treasurer’s financial education pilot in Central Falls,” said Rick Metters, Vice President, Rhode Island Regional Public Affairs & Government Relations

Treasurer Diossa created the Financial Capability Consortium in 2023 to identify opportunities to strengthen financial education in our urban core communities. With funding from the Rhode Island Foundation, the Consortium surveyed and spoke directly to school districts, individuals, and partner organizations to identify needs in urban core communities and across the state. The Financial Capabilities Consortium Pilot Program in Central Falls is a direct result of this research, and a first step in implementing community-based financial literacy education for urban core students starting in 8th grade. The Financial Literacy Youth Initiative will provide in-classroom instruction, and the CFA Society Providence will help track measurable outcomes. Ultimately, the Consortium hopes to replicate the pilot program throughout the state.

Rhode Island Financial Capability Consortium Members:

  • James A Diossa, General Treasurer
  • Ranika L. Reyes, Office of the General Treasurer
  • Marcy Reyes, FLY Initiative
  • Janet Benitez, Capital Good Fund
  • Al Cumplido, CFA Society Providence
  • Travis Escobar, Fidelity Investments & Millennial RI
  • Lee Lewis, Junior Achievement RI

For more information, visit www.treasury.ri.gov/FinancialCapabilitiesConsortium. 

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