Supporting Our Communities Through Financial Education Programs
As a mutual bank, our mission includes helping our customers and communities build solid economic foundations for our region. That commitment is why we focus on delivering world-class products and services to individuals, families and businesses. Providing education on important financial topics is also part of our mission, which is why we partner with local schools and organizations to improve the financial literacy of the next generation.
The Credit for Life Fair is an interactive event held at high schools and colleges across Massachusetts and beyond and hosted by financial institutions and other organizations. The goal of Credit for Life is to prepare students to survive financially in the everyday world BEFORE they leave high school. Students choose professions, assume the roles of 25-year old 'professionals with paychecks' and use their monthly ‘salaries’, ‘credit cards’ and ‘savings accounts’ to purchase everything they will need to live as adults. The goal of the day: to balance their budget and not overspend. CFL fairs include:
- 16th Annual North Shore High Schools Credit for Life Fair at Salem State University is coming May 2026! Participating high schools include: Amesbury, Newburyport, Pentucket, Triton, Ipswich, Georgetown, Landmark, Masconomet, Manchester-Essex, Salem, Beverly, Gloucester, Swampscott and Rockport.
- Lynn Public Schools and Institution for Savings will partner for the second year to bring Credit for Life to Lynn juniors on November 21, 2025. Participating schools will include Lynn Classical and Lynn English High Schools; Lynn Vocational Technical Institute; Frederick Douglass Collegiate Academy; and Harold Durgin Success Academy.
- The Bank will once again host a Credit for Life Fair at Essex North Shore Agricultural & Technical School on December 12, 2025.
- The Bank partnered with Salem State University (SSU) to host 'Budget like a Boss: Credit for Life Fair' for incoming SSU students this past September at the Ellison Campus Center.
Thanks, WCVB for this awesome news coverage of last year's event!
Looking for more information about Credit for Life? Contact us and/or watch our info video.
Salem State University Incoming Student Credit for Life Event
We partnered with Salem State University (SSU) to host a Credit for Life to incoming students - the first time the Bank has offered this important learning simulation to college students. Hosted at Ellison Campus Center, students learned how to manage their money and live within their means – important life lessons for every college student!
Get Smart About Credit
Every fall and spring, Bank representatives visit high schools in the Bank's market area to talk to seniors about the importance of careful budgeting, maintaining good credit and the perils of bad credit. The goal is to help young adults develop a stronger understanding of credit and how to use it responsibly before they leave high school. Email us if you are interested in learning more.Be a Smart Saver!
Good money habits start early! Our "Be A Smart Saver" initiative is a spin-off of Teach Children to Save, a national program that helps young people develop lifelong savings habits at an early age. Each spring, our employees visit area elementary schools to teach young students about the importance of saving money.At the end of these fun and interactive assemblies, students learn about the things they can do with money (earn, spend, save, share), know the difference between needs and wants and start making their own savings plans!
First-time Homebuyer Programs
Buying your first home can be daunting....and that is why we are here to help you navigate the journey and explain all the mortgage options available. You'll be able to make informed choices and find the mortgage that fits your budget and lifestyle through our First-Time Homebuyer program.A First-time Homebuyer Education Class is recommended for all first-time homebuyers and required for some of our programs. As an added incentive, Institution for Savings will provide a $500.00 closing cost credit to all applicants who complete an approved CHAPA certified course and close their loan with the Bank.
We have also partnered with the local First-time Homebuyer Education providers listed below to offer an additional closing cost credit of the standard course fee when you complete one of their courses. Simply provide the course completion certificate and proof of payment to receive the added benefit at closing.
We have also partnered with the local First-time Homebuyer Education providers listed below to offer an additional closing cost credit of the standard course fee when you complete one of their courses. Simply provide the course completion certificate and proof of payment to receive the added benefit at closing.
First-time Homebuyer courses provide important information about:
- Qualifying and applying for a home mortgage
- Working with realtors, home inspectors and closing attorneys
- Purchasing homeowners insurance
- Special issues surrounding condominiums and multifamily homes
To register for an online First-time Homebuyer course, or for more information about live classes via Zoom, please visit our partners below:
For information about live classes held via Zoom, please visit mvhp.org or contact MVHP directly at 978-459-8450.
Gloucester Housing Authority
Contact a homeownership advisor directly at 978-281-4770 x110
or via email at abeaton@ghama.com.
Contact a homeownership advisor directly at 978-281-4770 x110
or via email at abeaton@ghama.com.
Identity Theft Seminars for Seniors
Identity theft occurs when a criminal deliberately uses someone else’s personal identifying information to obtain financial gain, make purchases, obtain credit or loans, or gain other benefits in another person’s name, often at the other person’s loss or disadvantage. Seniors are particularly susceptible to scams and identity theft for a number of reasons and each year the number and types of scams increase. To help seniors protect themselves, we regularly visit senior centers to make presentations on financial topics important to older adults such as identity theft and financial fraud. Check out our Security page for information on the most recent scams and what you an do to protect yourself.
Championing Financial Education
What drives us to provide opportunities for young people to learn money basics early in life? Why do we host Credit for Life Fairs, Be A Smart Saver and Get Smart About Credit presentations? We do it because we see firsthand the opportunities - and the challenges - that come from financial decisions. We believe that what makes the difference is whether someone had the opportunity to learn the basics of money management through financial education.
We urge Massachusetts to join the growing number of states that require a personal finance course for every public high school student before graduation and proudly submitted a letter with fellow Massachusetts banks in support of legislation to the Massachusetts Joint Commission on Education earlier this fall.
