Orlando Magic Guard J.J. Redick, Bank of America, Merrill Lynch and SIFMA Foundation Celebrate Youth Financial Literacy On and Off the Court with the Slam Dunk for Financial Education Program
Boys & Girls Clubs of Central Florida Winner of SIMFA Foundation’s Stock Market Game™ Recognized in On-Court Presentation During Magic vs. Nuggets Game
[Orlando, FLORIDA] March 18, 2011 - Orlando Magic guard J.J. Redick, Bank of America, Merrill Lynch and the SIFMA Foundation will recognize the Boys & Girls Clubs of Central Florida winners of the Slam Dunk for Financial Education program tonight during the Orlando Magic versus Denver Nuggets game. The youth will be treated to game tickets, a pregame warm-up viewing, an awards ceremony and an on-court halftime presentation for the First Place team.
The innovative Slam Dunk for Financial Education program kicked off on February 14 at the Parramore Boys & Girls Club in Orlando with a visit by basketball great J.J. Redick initiating nearly 60 youth and 20 Bank of America Merrill Lynch associate volunteers in the SIFMA Foundation’s Stock Market Game™ competition. The Stock Market Game, which is widely used by 600,000 students each year, introduces youngsters to the financial markets as they learn math, economics and the importance of long-term saving and investing. As a part of the program, teams of 3-5 participants work together to invest a hypothetical $100,000 in real stocks, bonds and mutual funds, learning cooperation, communication and leadership as they manage their portfolios.
Bank of America and Merrill Lynch associate volunteers brought the content to life for Slam Dunk’s youth participants during the 10-week program, coaching and supporting the youth teams at each of the three selected Boys & Girls Club sites - the Parramore, Universal Orlando Foundation and Walt Disney World Branches. Redick offered his star power to the program, encouraging participants to develop life skills through this experience, including how to set goals and work towards them, how to be a team player and most of all, to always plan for the future.
As part of the Orlando Magic’s generous support of the program, participants also had the rare opportunity to visit with Redick at the Tip-Off event, learning about his saving and smart spending techniques. The kids also received game tickets, will attend pregame warm-ups and will be recognized in an awards ceremony and in an on-court halftime presentation.
The Slam Dunk for Financial Education program is a real-world educational experience that teaches personal finance, saving and investing, and also develops youngsters’ critical thinking skills. The program arms youth with the tools and resources to help them achieve their educational, financial and career goals. It is one example of Bank of America’s support for youth financial education and is consistent with the bank’s contribution of time and talent to its local communities through volunteerism.
“By supporting the Slam Dunk for Financial Education program, we believe we are making a solid investment in the future of Orlando youth,” said Bank of America Orlando Market President John Moskos. "Moreover, by starting early in life, we are enabling our next generation to better understand how thoughtful financial planning and decision making can positively impact their future, particularly in prevailing through difficult economic times.”
“It gives us tremendous pride to promote financial education to youth in Orlando in partnership with Bank of America Merrill Lynch, the Orlando Magic and Boys & Girls Clubs of Central Florida,” said Melanie Mortimer, Executive Director of the SIFMA Foundation. “By combining a fun and engaging educational program with an iconic basketball team and the real-world input of financial professionals, we’re capturing the hearts and minds of young people, preparing them for life and helping them improve their knowledge and skills.”
Last year, Learning Points Associates, in conjunction with the FINRA Foundation for Investor Education, announced the results of a rigorous nationwide study examining the impact of the SIFMA Foundation’s Stock Market Game. They found that Stock Market Game participants scored considerably higher on tests of math and investor knowledge compared to their non-participating peers, and that teachers of the program also improved their financial behavior.
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services.
The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. www.bankofamerica.com
The SIFMA Foundation is dedicated to fostering knowledge and understanding of the financial markets for individuals of all backgrounds. Drawing on the support and expertise of the financial industry, the SIFMA Foundation provides financial education programs and tools that strengthen economic opportunities across communities and increase individuals’ access to the benefits of the global markets. Notable SIFMA Foundation programs include the Stock Market Game, which has served more than 12 million students since it began in 1977, the Investwrite national financial essay competition, and the Capitol Hill Challenge, which matches Members of Congress to Stock Market Game schools nationwide. For more information on the SIFMA Foundation, visit www.sifma.org/foundation
The Orlando Magic: Orlando's NBA franchise since 1989, has the mission to be world champions on and off the court, delivering legendary moments every step of the way. On the court, Orlando has won five division championships (1995, 1996, 2008, 2009, 2010), had six 50-plus win seasons, and won the Eastern Conference title in 1995 and 2009. Off the court, on an annual basis, the Orlando Magic gives more than $2 million to the local community by way of sponsorships of events, donated tickets, autographed merchandise, scholarships and grants. Orlando Magic community relations programs impact an estimated 75,000 kids each year, while a Magic staff-wide initiative provides more than 6,000 volunteer hours annually. In addition, over the last 21 years nearly $16 million has been distributed to local non-profit community organizations via the Orlando Magic Youth Fund (OMYF-MFF), a McCormick Foundation Fund since 1994, which serves at-risk youth. Ticket highlights in the new Amway Center include: 2,500 seats priced $15 or less, 7,000 seats priced $25 or less, and for the first time ever a $5 per game ticket while supplies last. For ticket information log on to www.orlandomagic.com or call 407-89-MAGIC. Through the National Basketball Association’s NBA Cares program, the league, players and teams have donated more than $145 million to charity, provided more than 1.4 million hours of hands-on service to communities around the world, and created more than 525 places where kids and families can live, learn, or play. The NBA is broadcast in 215 countries and territories in 41 languages.
Boys & Girls Clubs of Central Florida has, since 1944, provided children from the local community between the ages of 6-18 with a safe place to learn and grow. Its membership totals more than 12,000 children at 29 Club sites in Brevard, Orange, Osceola and Seminole Counties. The mission of Boys & Girls Clubs of Central Florida is to inspire and enable all young people, especially those from disadvantaged circumstances, to realize their full potential as productive, responsible and caring citizens. For more information or to find out how you can support the Boys & Girls Clubs movement, call 407-841-6855 or visit www.bgccf.org.
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Name: Katrina Cavalli
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