North Providence H.S. Students Win 2007 “Reserve Cup” for Ocean State

Secretary of State, A. Ralph Mollis Encourages All New England Teens to be Financially Savvy

November 20, 2007 – A team of students from North Providence High School representing Rhode Island won the “Reserve Cup” in Boston yesterday at the second, six-state, quiz-show competition organized and hosted by the Federal Reserve Bank of Boston (FRBB).

In partnership with the FRBB, the Rhode Island Jump$tart Coalition arranged for four North Providence High School students to compete with five other high school teams representing CT, MA, ME, NH, and VT in the academic competition that focused on personal financial literacy, economics and the Federal Reserve System.

In a dramatic, overtime, “sudden death” victory, the North Providence team won a tie-breaker with the team representing Massachusetts answering a question related to international currency values.

Student team members, Kelly DeAngelis, Vincenzo Gianfrancesco, Raymond Iannuccillo, Luisa Murillo, and Rita Nerney (alternate) of North Providence High School were selected by high school Business Department Chair, Susan Bennett.

Recounting the overtime round tension among North Providence High School supporters in the audience, Susan Bennett said, “Kathy Lisi, my fellow business educator, the parents and twenty student supporters were biting our nails as the final scores were tallied.  We were all proud of our team’s performance, but winning was the perfect cap to an already exciting and educational day for everyone.”

Prior to the competition portion of the event, Rhode Island Secretary of State, A. Ralph Mollis spoke to over one-hundred high school students from throughout New England on the importance of personal financial literacy and economics education.

“The financial decisions you are making today, not just those you will soon be making as adults, are critical to your well being and the well being of our regional and national economy.” Mollis said to the teenagers.He continued, “My hope is that you will put yourself in a position where your dreams, not your debts will govern your life.”

Rhode Island Jump$tart Executive Director, Jim Hedemark commented on the value of the FRBB’s “Reserve Cup” program, “For the second year, we are proud to have provided a team of teenagers for this competition that not only provides a remarkable experience for the participants, but also draws attention throughout the New England region on the importance of youth personal financial education.  We are grateful that the Federal Reserve Bank of Boston is playing such a strong leadership role in this critical policy area.”