Submitted by Lucas Fumiatti, Essex Savings Bank
(June 3, 2025) — Essex Savings Bank has announced a partnership with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures. Essex Savings Bank customers now have free access to Greenlight’s award-winning family finance app, available through the Greenlight for Banks program.
91% of kids and teens believe they need financial knowledge and skills to achieve their life goals. Teens score an average of 64% on the National Financial Literacy Test, demonstrating a need for effective financial education. Parents rank personal finance as the #1 most difficult life skill to teach their children with 81% saying they wish they had more financial education tools and resources.**
Greenlight offers a debit card and an app that teaches kids and teens how to earn, save, give and spend wisely – all with parental supervision. Using the Greenlight app, parents can send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of all transactions, and more. Kids get hands-on money management experience, along with access to Greenlight Level Up™, an in-app financial literacy game with a best-in-class curriculum, educational challenges, and rewards.
“Greenlight provides our families with even more tools to learn and grow financially,” comments President and CEO Diane Arnold. “We’re positively thrilled to add these cutting-edge technologies to our ever-growing suite of products and services.”
Essex Savings Bank customers can receive a free Greenlight subscription by registering through the Bank’s Greenlight affiliate page and adding their Essex Savings account as a funding source.
Essex Savings Bank is an FDIC-insured, state-chartered, mutual savings bank established in 1851. The Bank serves the Connecticut River Valley and shoreline with six offices in Essex, Chester, Madison, Old Lyme, and Old Saybrook providing a full complement of personal and business banking. Financial, estate, insurance and retirement planning are offered throughout the state by the Bank’s Trust Division, Essex Trust, and its wholly-owned subsidiary, Essex Financial Services, Inc., a Registered Investment Advisor.
*Survey insights were collected by Greenlight through a Researchscape survey fielded between March 22 and March 24, 2024, among 2,310 respondents in the U.S., split between kids and teens ages 10-19 and parents of 10-19 year olds.
**Survey insights were collected by Greenlight through a Researchscape survey fielded between February 9-12, 2023, among 1,034 U.S. respondents, all of whom were working parents of 8-18 year olds.
