Ready, Set, Bank: Empowering Older Adults to Bank Online

Capital One is partnering with the National Council on Aging to help older adults manage their money virtually

While online banking usage has soared during the COVID-19 pandemic amid efforts to comply with safety protocols, it is imperative that all people using the resource have the necessary tools to confidently manage their money digitally. 

Capital One is partnering with the National Council on Aging (NCOA) to offer virtual financial well-being workshops through its Ready, Set, Bank program to ensure that older adults across the country feel empowered to bank online.

Throughout the COVID-19 pandemic, Ready, Set, Bank workshops have helped older adults take advantage of the convenience, enhanced control and consumer protection offered through online banking.

In concert with the NCOA, Capital One recently led Ready, Set, Bank workshops to help 45 older adults at the Northeast Levy Regional Senior Center in Chicago, Illinois gain skills to bridge the digital divide.

“Ready, Set, Bank workshops help close the digital literacy gap that exists among many older adults that are learning how to navigate and understand the digital world around them,” said Vivian Nava-Schellinger, Director of Partnerships at the NCOA. “This program is creating a real foundation for older adults to feel empowered to learn a new life skill.”

Many older adults were unfamiliar with online banking prior to the pandemic, according to an AARP report published last fall, with older Americans aged 65 and older most likely to frequent bank tellers to access their accounts. 

“I always avoided online banking, but now feel like I’m living in the 21st century when it comes to managing my finances,” said Gloria Guillermo-Garza, a resident at Northeast Levy Regional Senior Center who participated in the Ready, Set, Bank workshops. 

Capital One’s efforts to help older adults feel empowered to bank digitally through its Ready, Set, Bank program is part of our larger commitment to create financial tools that enrich lives through the Capital One Impact Initiative, a $200 million, multi-year commitment to advance socioeconomic mobility through 

The Capital One Impact Initiative seeks to create a world where everyone has an equal opportunity to prosper by closing gaps in equity and opportunity.

“It’s really liberating for seniors to not have to depend on someone else to take care of their finances for them or have to travel to a physical space to do their banking,” said Lisa Ardis-Hendrix, an Engagement Specialist at Capital One who led the virtual workshops for Northeast Levy Regional Senior Center residents. “Ready, Set, Bank removes the barriers that many older adults face to feel comfortable about online banking.”

In addition to offering financial well-being workshops in Chicago, Capital One and the NCOA are offering Ready, Set, Bank to older adults in cities throughout the country, including Los Angeles, California.

“Ready, Set, Bank is creating a movement for improved financial well-being that will transcend the COVID-19 pandemic,” said Nava-Schellinger. “When participants have a light bulb moment at a workshop, they feel empowered as they see themselves accomplish something that they once never thought they’d be able to do.”

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