The Office of General Treasurer James A. Diossa is proud to launch the Rhode Island Financial Capability Consortium, an innovative financial literacy initiative created to provide Rhode Island’s youth with the hands-on learning experiences they need to build lasting financial skills. This unique collaboration brings together local banks, credit unions, and financial institutions to help students gain practical knowledge about budgeting, managing money, investing, and building wealth, starting early in life.
Financial Capability Consortium Pilot Program
Treasurer Diossa recognizes the deep disparities between Rhode Island’s urban core and suburban districts when it comes to financial education. To address this gap, Treasurer Diossa created the Financial Capability Consortium to transform financial education in Rhode Island. Together, they conceived an innovative pilot program to empower students in underserved communities with the tools and knowledge to build intergenerational wealth.
The program will kick off in Central Falls, where a cohort of 50 8th-grade students at Calcutt Middle School will receive immersive financial education from the Financial Literacy Young Initiative (FLY), including hands-on experiences that go far beyond the classroom. Local partners like Fidelity Investments and Navigant Credit Union are providing students with unique opportunities, including managing a trading account, using a stock ticker tool to learn about financial markets, and managing individual savings accounts provided to all students in the pilot program. Students will also have multiple opportunities to visit Navigant Credit Union’s Central Falls branch and Fidelity Investments’ Smithfield campus to see what working in the financial services industry looks like firsthand. Additionally, CFA Society Providence and Millennial RI will offer coaching on networking and skill-building, helping students develop confidence for their future careers.
Parents as Partners: Fostering Intergenerational Wealth
The program also invites parents into the classroom to reinforce the importance of wealth-building and to break the cycle of financial instability. By including families in the learning process, the initiative aims to teach them the financial skills and knowledge they need to make smart decisions and achieve long-term financial success.
Data-Driven Success
As part of the program’s commitment to long-term impact, CFA Society of Providence will collect and analyze data on the pilot’s effectiveness, while Edapt Technologies will offer additional support. Together, these partners will ensure that this initiative delivers measurable, lasting benefits for Rhode Island’s students.
This program is more than just a curriculum—it is a life-changing opportunity. By equipping students and their families with real-world financial skills, we are preparing them to confidently manage money, buy a car, own a home, and save for college. What starts with 50 students in Central Falls has the potential to grow into a movement to build a financially empowered generation of Rhode Islanders.
Explore the Financial Literacy Youth Initiative syllabus here to see how we are empowering Rhode Island’s students with the essential knowledge and skills they need to take control of their financial futures.
Rhode Island Financial Capability Consortium Members:
- James A Diossa, General Treasurer
- Ranika L. Reyes, Office of the General Treasurer
- Janet Benitez, Capital Good Fund
- Brittany Brown, RI Department of Education
- Al Cumplido, CFA Society Providence
- Travis Escobar, Fidelity Investments & Millennial RI
- Lee Lewis, Junior Achievement RI
- Steve Osborn, RI Department of Education
- Marcy Reyes, FLY Initiative