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Business Wire
a day ago
- Business
- Business Wire
Chime Announces 2025–2026 Chime Scholars Foundation Cohort, Awarding Over $3 Million in Scholarships
SAN FRANCISCO--(BUSINESS WIRE)--Chime ® (Nasdaq: CHYM), a leading consumer financial technology company, today announced its 2025–2026 Chime Scholars Foundation ® (CSF) cohort, awarding over $3 million in scholarships to 800 students across the country. Chime launched CSF in 2022 to ease financial burdens, boost graduation rates, and open doors to higher-paying career opportunities. The program is designed for ambitious students of all backgrounds, ages, and educational stages to pursue degrees, certificates, vocational training, and more. Chime has taken the 1% pledge, committing millions of shares of its equity over a decade to fund CSF and provide scholarships to more students across the country. 'Chime helps everyday people achieve financial progress by making core banking services helpful, easy, and free. The Chime Scholars Foundation — powered by our 1% pledge — extends that mission by investing in the potential of ambitious students and opening real pathways to economic mobility,' said Chris Britt, CEO and Co-founder of Chime. 'I'm proud of this incoming class of scholars and inspired by the growing impact CSF is having in helping the next generation of hardworking students build brighter futures for themselves, their families, and their communities.' This year's achievements include: Welcoming the largest Chime Scholars class to date–nearly doubling from 438 scholars last year–underscoring Chime's growing commitment to the program. Awarding scholarships to students attending 369 institutions, with 64% pursuing non-traditional pathways such as transfer, community college, certificate, and trade programs. Supporting first-generation college students, who make up 65% of the 2025–2026 scholars, in pursuing their education goals. CSF's scholarships are helping students achieve meaningful academic and career milestones. Now, in its fourth year, CSF has provided $7 million in scholarship funding to over 1,000 students. Chime scholars have a projected 87% graduation rate, nearly double that of Federal Pell Grant recipients. 1 Within six months of graduation, 72% secure jobs in their field and 86% report reduced financial stress. 'Receiving the Chime Scholarship not only supports me financially but also validates my journey of perseverance and reinvention. I am eager to prove that no matter where you start, passion and hard work can lead to success,' said Ben V., a Chime member and scholar studying cybersecurity. Scholarship applications for the 2026-27 school year will open in early 2026. For more information, visit Chime Scholars Foundation. About Chime: Chime (Nasdaq: CHYM) is a financial technology company founded on the premise that core banking services should be helpful, easy, and free. We offer a broad range of low-cost banking and payments products that address the most critical financial needs of everyday people. Our member-aligned business model has helped millions of people to unlock their financial progress. Member deposits are FDIC-insured through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, up to applicable limits. 2
Yahoo
08-02-2025
- Business
- Yahoo
CD rates today, February 8, 2025 (best account provides 4.40% APY)
The Federal Reserve cut its federal funds rate three times in 2024, so now could be your last chance to lock in a competitive CD rate before rates fall further. CD rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Historically, longer-term CDs offered higher interest rates than shorter-term CDs. Generally, this is because banks would pay better rates to encourage savers to keep their money on deposit longer. However, in today's economic climate, the opposite is true. See our picks for the best CD accounts available today>> Today, the highest CD rate 4.40% APY, offered by NexBank on its 1-year CD. There is a $25,000 minimum opening deposit required. Here is a look at some of the best CD rates available today: The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured.
