Hutch-Tech student wins regional financial literacy competition

By Matthew Biddle

BUFFALO, N.Y. -- A student from Buffalo’s Hutchinson-Central Technical High School edged out almost 800 competitors from across the region to win MoneySKILL® Mania, an in-school financial literacy challenge sponsored by the University at Buffalo School of Management and M&T Bank.

Michael Santoro, a member of Hutch-Tech’s Army Junior ROTC class, won an Apple iPad as the top-scoring student from all schools.

Tyler Bird from Clarence High School and Samuel Gura from Orchard Park High School each collected a $250 prize for taking second and third place, respectively.

The highest scoring student from each of the other participating schools won a $50 Amazon gift card.

In total, 28 teachers from 24 high schools across Western New York registered to play MoneySKILL Mania in their classrooms this year. Teachers for the top three students each received a $100 gift certificate for UB’s Center for the Arts. The winning educators were retired 1st Sgt. Stephen Frazier from Hutch-Tech, Brian Schmidt from Clarence High and Jim Agnew from Orchard Park High.

Now in its eighth year, the competition aims to increase awareness of MoneySKILL, a free, interactive online curriculum that educates young people on a variety of personal financial issues. In the past five years, about 15,000 Western New York students have used MoneySKILL to learn concepts like income, investments, credit, mortgages, interest and more.

“The concepts MoneySKILL teaches are applicable for all students, regardless of their future college or career ambitions,” says Cynthia Shore, senior assistant dean and director of alumni engagement and external relations at the UB School of Management. “Understanding the fundamentals of money management will help our MoneySKILL participants throughout their entire lives, which is why we are so proud that this year’s competition was the largest yet.”

MoneySKILL was designed by Lewis Mandell, PhD, professor emeritus of finance and managerial economics in the UB School of Management, for the American Financial Services Association Education Foundation.

The UB School of Management and M&T Bank have partnered since 2006 to provide outreach, teacher training and the MoneySKILL Mania competition in an effort to help regional high school students improve their financial literacy.

M&T Bank Corporation is a financial holding company headquartered in Buffalo. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.

The UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school also has been ranked by Bloomberg Businessweek, the Financial Times, Forbes and U.S. News & World Report for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit mgt.buffalo.edu.

The University at Buffalo is a premier research-intensive public university, the largest and most comprehensive campus in the State University of New York. UB’s nearly 30,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.