Financial Literacy

    Capital One Bank is now accepting applications for its first financial literacy challenge on Long Island, an awards program that will dispense $5,000 each to 25 local organizations — from schools to nonprofits to community groups — to go toward the implementation of financial education programs.

    Of the 25 organizations participating in the challenge, the two that demonstrate the greatest influence on their communities will be selected to win additional grants of up to $15,000 in the spring of 2013.

    The open application period will run through May 11. Any 501(c)(3), 501(c)(4), 501(c)(6), public school, or government entity that will offer financial education programs to Suffolk County residents is eligible to apply. The 25 winners will be notified in June so programs can be implemented between September and May of next year.

    “As a local bank, we are committed to increasing economic opportunities by empowering community members to teach money management practices, such as budgeting and saving, to Long Island residents of all ages,” Andrew Corrado, Capital One’s Long Island market president, said in a release.

    More information and the application are available at cybergrants.com/capitalone/financialliteracychallenge.