Magnanimous gift from State Farm promises to increase financial literacy in South Florida.

One of the jewels in the College of Business Administration’s building complex at Florida International University (FIU) is its 2,200 square-foot state-of-the-art trading, research and teaching laboratory. The facility features 50 high-end, networked workstations, advanced audio-visual systems, and LCD screens with real-time data from fixed income, equity and foreign exchange markets, using Bloomberg as the marquee information source. Supported by a generous grant from State Farm Mutual Automobile Insurance Company, the State Farm Financial Literacy Lab will enable the college to expand its role in the education of business students and the local community.

Between 2011 and 2014, the grant will support the High School Financial Literacy Program, designed by Helen Simon, the lab’s director, and taught by a staff of five interns under her guidance.

“Eight community outreach projects will engage a diverse spectrum of South Florida residents through educational activities that foster financial literacy, a reflection of State Farm’s and FIU’s commitment to promote financial education in the region’s communities,” she said.

“This partnership is a win-win for students and communities in South Florida,” said Jim Thompson, senior vice president and head of State Farm’s Florida activities. “Financial literacy is critical to the future success of our young people. Part of our mission at State Farm is to help people realize their dreams.  Much of that begins with the basic financial skills which many teens and young adults need to develop.”

According to State Farm Operations Vice President and Chair of the State Farm Education Initiative in Florida, Cheryl Herrin, “We are very excited to be a part of the FIU family. The sponsorship of the State Farm Financial Literacy Lab represents an investment in the lives and futures of our young adults. Florida’s future depends on the quality education provided to our students, and this partnership is just one of the ways State Farm is helping to strengthen our communities and workforce of tomorrow.”



Annabelle Rojas, (MBA ’98, BBA ’87), assistant dean, advancement, alumni and corporate relations, College of Business Administration; Nicole Kaufman, director, corporate and foundation relations, FIU; Joyce J. Elam, executive dean, College of Business Administration; Barry Shiflett, director, career management services, College of Business Administration; Helen Simon, director, State Farm Financial Literacy Lab; Cheryl Herrin, State Farm operations vice president and chair of the State Farm Education Initiative in Florida; Jackie Valle, coordinator, corporate and foundation relations, FIU; Jim Thompson, senior vice president and head of State Farm’s Florida activities; Monique Catoggio, (EMBA ’03), director of advancement and alumni relations, College of Business Administration; and Don Dye, human resources representative, State Farm


Executive Dean lauds donation.

For Joyce J. Elam, a strong supporter of the lab since its inception, the grant validates the value of the facility, State Farm’s leadership and the strength of the relationship between the company and the college.



Executive Dean Joyce J. Elam

"Our partnership with State Farm exemplifies the corporation's commitment to foster the skills needed to promote financial stability throughout South Florida's multicultural communities," she said. "We are honored to collaborate with State Farm and look forward to the development of engaging projects that mutually advance the college’s academic mission and State Farm’s philanthropic vision."

 


State Farm pledges $200,000 to support financial literacy education at FIU

Florida International University is pleased to announce a commitment of $200,000 from State Farm Mutual Automobile Insurance Company (State Farm®) in support of financial literacy education at the College of Business Administration.

The grant will support the operation of FIU’s State Farm Financial Literacy Lab and service learning projects led by FIU students in collaboration with State Farm representatives and FIU faculty, designed to engage a diverse spectrum of South Florida residents through educational activities that promote financial literacy. In addition, the grant will support financial service learning projects during 2011-2014, a reflection of State Farm’s commitment to foster financial literacy in the region’s communities.

The financial literacy service learning projects will facilitate access to the College of Business Administration’s State Farm Financial Literacy Lab, a 2,200 square-foot state-of-the-art trading, research, and teaching laboratory. The facility features 50 high-end, networked workstations, advanced audio-visual systems, and LCD screens with real-time data from fixed income, equity, and foreign exchange markets, utilizing Bloomberg as the marquee information source. The Lab will enable participants in the service learning projects to learn about various capital market activities, including equity and debt issuance and investment analysis, financial planning, cash management, derivatives, and investment management.

“This partnership is a win-win for students and communities in South Florida,” said Jim Thompson, State Farm Senior Vice President and head of the company’s Florida activities. “Financial literacy is critical to the future success of our young people. Part of our mission at State Farm is to help people realize their dreams. Much of that begins with the basic financial skills which many teens and young adults need to develop.”

State Farm Operations Vice President and Chair of the State Farm Education Initiative in Florida, Cheryl Herrin, added, “We are very excited to be a part of the FIU family. The sponsorship of the State Farm Financial Literacy Lab represents an investment in the lives and futures of our young adults. Florida’s future depends on the quality education provided to our students, and this partnership is just one of the ways State Farm is helping to strengthen our communities and workforce of tomorrow.”

“Our partnership with State Farm exemplifies the corporation’s commitment to foster the skills needed to promote financial stability throughout South Florida’s multicultural communities,” said Joyce Elam, Executive Dean of the College of Business Administration. “We are honored to collaborate with State Farm and look forward to the development of engaging projects that mutually advance the College’s academic mission and State Farm’s philanthropic vision.”

In alignment with the corporation’s efforts to engage a diverse spectrum of the campus community, the financial literacy grant is one component of State Farm’s university-wide partnership. In addition to this partnership, State Farm pledged a $20,000 grant to support several initiatives that will provide mentorship, scholarship and leadership training opportunities to FIU students through various programs, including Upward Bound, the 2010-11 Young Alumni and Student Seminar Series, and the 2011 Student Leadership Summit.

For more information on these grants and the State Farm partnership, please contact:

Dr. Helen K. Simon, CFP®
State Farm Financial Literacy Lab Director
Phone: 305-348-1552
Fax: 305-348-1013
Email: simonh@fiu.edu