Jesse Scheckner
Kids in Pembroke Park are learning how money works — and getting a nice chunk of change to boot.
The small Broward County municipality is launching a financial literacy initiative for fifth grade students at Watkins Elementary School.
The program, which the town is running in partnership with First Florida Credit Union, aims to introduce students to foundational concepts like banking, credit, and compound interest.
On Friday, 15 students will visit Pembroke Park Town Hall for a hands-on learning session at 10:30 a.m. And there’s a surprise at the end. Each student will receive a $100 deposit to open a savings account, fully funded by the town.
“Too many adults struggle to balance their checkbook, understand credit, and make investments that will ensure their future,” said Vice Mayor Erik Morrissette, who is spearheading the program.
“Pembroke Park is providing our children with this education early so that they are positioned for success.”
Located in southern Broward, Pembroke Park, with a population of approximately 6,544, is a small municipality known for its close-knit community. According to U.S. Census data, close to a quarter of Pembroke Park residents live below the poverty line — roughly double the state rate — making financial literacy education vital in helping to break cycles of economic hardship.
Educators and economists have long advocated for integrating financial literacy into pre-college curricula. According to the National Financial Educators Council, the average American’s lack of financial knowledge comes with a steep cost — between $1,230 and $1,819 annually from 2018 to 2023.
Pembroke Park joins a growing movement of municipalities — including major cities like Atlanta, Baltimore, Chicago, Fort Lauderdale, Houston, Miami, Philadelphia, New York and San Francisco — working to equip young people with the tools they’ll need to make sound financial decisions.
In August, PNC Bank, EVERFI and education tech platform development firm BlackBaud announced the development of a curriculum for Florida school districts to teach teens basic banking, personal finance budgeting, credit management and debt oversight skills.
The initiative followed legislation Gov. Ron DeSantis signed in 2022 to require that high school students take a half-credit course in financial literacy before they graduate.
