New York, NY, Sept. 30, 2020 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and among the largest mobile-first banking platforms, today announced the winners of its sixth annual Financial Empowerment Scholarship, as well as the latest Passport Student Success Sweepstakes. Michael Harris, currently a freshman at Middle Tennessee State University, was selected as the recipient of the scholarship out of more than 2,400 applicants. Elliott Slater, Jr., of Webster University, was selected as the recipient of the latest sweepstakes, and is receiving prize money from BankMobile to be paid toward his student debt.
“We are pleased to announce the winners of our annual Financial Empowerment Scholarship and Passport Student Success Sweepstakes, and we’d like to congratulate these two individuals,” stated Luvleen Sidhu, Co-Founder and CEO of BankMobile. “We are committed to recognizing students who are making a noticeable difference in their communities and helping to promote financial literacy, as well as for their smart money management behaviors. As a brand, we are continuing to provide an unparalleled digital banking experience that is focused on financial stability.”
“It is an honor to be the 2020 recipient of BankMobile’s prestigious financial empowerment scholarship,” stated Harris. “I am proud to be part of a vision that is dedicated to supporting financial education and mentoring others in these important areas.”
Harris is a graduate of the RISE Financial course, which offers instruction in planning, credit and banking. He has been a member of Boy Scouts of America for over nine years and is currently an Eagle Scout. Harris is mentoring members of the Beta Club, 4-H and Boy Scout groups in the area of financial literacy. He has also spent over 153 hours volunteering on projects that have contributed to the improvement and development of his local community, including park restorations, creation of an activity trail, reconstruction of church signs and landscaping.
The BankMobile Foundation serves as a platform to financially empower individuals by promoting financial literacy through scholarships and grants, sweepstakes, funding social entrepreneurs and building strategic partnerships with organizations dedicated to promoting financial education. BankMobile has been awarding its Annual Financial Empowerment Scholarship since its inaugural year in 2015.
Passport is the BankMobile Vibe Checking Account recognition program for smart money management, academic achievement and good financial behavior. BankMobile Vibe is a student-centric checking account available at campuses that use BankMobile Disbursements and has the following elements:
- Features designed for students like online bill pay, card on/off switch and money management tools
- No minimum balance
- Robust mobile app
- Access to more than 55,000 fee-free Allpoint® ATMs (ATM availability varies by location)
- An optional interest-bearing BankMobile Savings Account
Passport users earn stamps for smart money management, academic achievement and good financial behavior. Every stamp earned also gives them an entry into the Student Success Sweepstakes for a chance to win prize money put toward paying off their student loan debt.
BankMobile Disbursements serves more than five million students on approximately 750 campuses nationwide. Through this distribution channel, BankMobile serves one in every three college students in the country. In August, BankMobile announced an execution of an agreement with Google to introduce digital bank accounts, which is planned to launch in 2021.
To learn more about the Annual BankMobile Financial Empowerment Scholarship and how to apply for the 2021 scholarship offered by the BankMobile Foundation, visit: https://www.bankmobile.com/scholarship/. And to learn more about the Passport Student Success Sweepstakes, visit: https://bankmobilevibe.com/passport/.
For more information about BankMobile, visit: www.bankmobile.com.
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About BankMobile
Established in 2015, BankMobile Technologies is a division of Customers Bank and is among the largest mobile-first banking platforms in the U.S., offering checking and savings accounts, personal loans and credit cards. BankMobile, named the “Most Innovative Bank” by LendIt Fintech in 2019, provides an alternative banking experience to the traditional model. It is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” BankMobile employs a multi-partner distribution model, known as “Banking-as-a-Service” (BaaS), that enables the company to acquire customers at higher volumes and substantially lower expense than traditional banks. Its efficient operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, BankMobile Technologies provides its BaaS platform to colleges and universities and currently serves over two million account-holders at 722 campuses (covering one out of every three students in the U.S.). BankMobile Technologies is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. BankMobile has signed a definitive Business Combination Agreement to merge with Megalith Financial Acquisition Corp. ("MFAC") (NYSE: MFAC, MFAC.U, MFAC WS), a special purpose acquisition company, in a transaction that is expected to close in the fourth quarter of 2020. BankMobile is a technology company and is not a bank and does not provide banking services. For more information, please visit: www.bankmobile.com.
About Customers Bank
Customers Bank, a subsidiary of Customers Bancorp, Inc. a bank holding company, is a full-service super-community bank with assets of approximately $17.9 billion at June 30, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bancorp, Inc.’s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information can be found on the company’s website, www.customersbank.com.