In 2015, the MassMutual Foundation partnered with digital education provider EVERFI from Blackbaud to launch the FutureSmartSM program, a national initiative aimed at addressing critical gaps in financial literacy. Collaborating closely with Ray Martinez, President and Co-Founder of EVERFI and a valued friend, the MassMutual Foundation and EVERFI developed FutureSmart to offer a thoughtfully designed curriculum. This program includes supplemental resources for students, families, and educators, all working together to equip participants with the knowledge and skills needed to achieve personal financial well-being, and today, we are proud to be celebrating a major milestone – five million students with access to the FutureSmart offering.
In honor of this, I recently had the opportunity to talk with Ray to reflect on the significance of surpassing five million students reached in all 50 states, D.C., and Puerto Rico. Here are some highlights from our conversation.
Meeting students where they are
From the beginning of this initiative, the need was clear. Financial literacy curriculum, when it was offered at all, was not designed for modern learners. Despite government organizations and financial services companies dedicating significant money and resources toward improving financial literacy, the needle simply wasn’t moving.
“We saw that there was a big gap in how we were teaching young people about financial literacy,” Martinez recalled. “Nothing was really leveraging technology or catering to young students. We wanted to build something that could scale to every student, every teacher, and every school in the United States and Puerto Rico. We also wanted to take concerns about cost off the table. So, the MassMutual Foundation made a multi-year commitment to make this a ubiquitous resource for schools, teachers, and students.”
Coming together to make an impact
MassMutual is more than 170 years old, and I’m proud to say that helping people has always been part of our DNA. EVERFI has a well-earned reputation of being the biggest and best education technology company in the country. Neither of our organizations developed FutureSmart to simply check a box. We’re doing this because it’s a reflection of who we really are.
“EVERFI has been at this for 16 years now, and the early years of our company informed where we are today,” Martinez said. “We learned quickly that there was a huge need in different communities to educate not only the student, but to educate the entire family and provide the types of resources they need to lead successful lives.
“When we met with the MassMutual Foundation in 2015, it was clear that our values were aligned, and we couldn't be prouder of what we have built together. It's been a great partnership, and, by far, one of the coolest things that I've done in my career.”
Effective expansion and reach
From the beginning, it was critical to scale FutureSmart and make sure we would be able to reach all types of students in a wide range of communities. The data shows that we’ve been effective in doing so.
“We had to develop a resource that was effective for all types of learners from different types of communities,” Martinez said. “And we have seen that 40% of the students accessing the software daily are of low- to moderate-income. If you look at statistics around who's accessing it, you’ll see we are in every nook and cranny of the United States and Puerto Rico.”
Empowering teachers and influencing policy
We often hear from teacher unions and educators at the state level that they themselves are not comfortable with financial education. Thanks to EVERFI’s ubiquity in the education space, we were able to build a portal and program for teachers to learn the concepts and become certified FutureSmart teachers.
“Teachers rely on this tool year in and year out to meet unfunded state mandates around financial literacy,” Martinez noted. “It's easy to use, and it's turnkey. I think we’ve done a really good job of combining technology with people and their learning preferences.”
The MassMutual Foundation and EVERFI are aligned in our understanding that empowering teachers makes good sense with the country’s rapidly changing financial literacy landscape. “In 2015, you only had a handful of states that required financial literacy as part of their curriculum,” Martinez said. “Now, 26 states have some type of recommended standard, and we think that's a good thing for the country. FutureSmart is built to meet that demand.”
Five million learners, impacts big and small
As much as it’s important to acknowledge this big milestone of five million, it’s also important to recognize the small numbers. I believe it starts with the one kid going through the program and the one kid who goes home and talks to his family about it. And then it becomes the other kids in that community who go home and talk to their parents about it. Because of EVERFI’s ability to get the FutureSmart program everywhere, we are impacting communities that we would've never touched otherwise.
“Here in the United States, we still have over six million households that are unbanked,” Martinez pointed out. “Almost half the U.S. adult population wouldn't be able to cover an emergency expense of a thousand dollars. You've got a growing number of students attending public school who qualify for free and reduced lunch. Financial literacy, in and of itself, is not going to solve all of that. But if we can bring the financial services industry together and have equitable access to the financial services system, if we can start these interventions earlier and we combine these interventions with real world applications, then we can start making a difference.”
Countless standout moments
As we discussed the big numbers for FutureSmart, we also remembered a few smaller experiences that stood out to us along the way. I recalled talking with a middle school teacher in San Diego who loved the program not just because his students were engaged and learning, but also because, as he said, “It allowed them to dream.” That sentiment has stuck with me ever since.
For Martinez, it wasn’t a single moment or conversation, but an ongoing collection of conversations he’s had with young people over the past nine years. “I’ve talked with students who have taken the information home to help their families,” he said. “Whether it's talking about credit cards, or having a conversation about paying for college, or even talking to a brother or sister about their financial situations. We’re making an impact well beyond just the students in school.”
Building a movement and setting a standard
The MassMutual Foundation and EVERFI are not simply building an accessible financial literacy program—we’re building a movement. That’s only possible because of our shared commitment and our extraordinary scale and reach.
Another benefit is what FutureSmart represents to MassMutual’s culture. FutureSmart is often mentioned by our CEO when he is talking to people inside and outside of the company about our community programming. When we talk about this program internally, employees universally love it. They're excited and proud that we do this.
Martinez sees FutureSmart setting an important new standard. “I believe our collective work has pushed the industry to be better,” he said. “The financial literacy resources available to consumers, public schools, nonprofits—they continue to get better. And I believe that this program has really set the bar for what effective instruction can and should look like.”
Looking ahead, maintaining momentum
When our organizations launched FutureSmart in 2015, we set an ambitious goal of reaching six million learners by 2025. After passing five million students reached halfway through 2024, we’re well on our way. But just because the six million student milestone is within sight, that doesn’t mean we have any plans to slow our momentum once we reach that goal.
Improving financial capability through education requires an ongoing commitment and focus; the MassMutual Foundation is proud to continue partnering with EVERFI on FutureSmart, and we look forward to continuing and growing our collaboration.
To learn more about FutureSmart and how EVERFI and the MassMutual Foundation are working together to positively impact the financial well-being of families and communities, visit the FutureSmart website.
Discover more from MassMutual ...
When a hospital and the MassMutual Foundation aligned
An Oscar nod and the MassMutual Foundation
___________________________