US Bank and Schulze School of Entrepreneurship: Bridging Financial Wellness and Corporate Innovation

The U.S. Bank and Schulze School of Entrepreneurship partnership merges real-world business challenges with financial literacy. It provides students with practical, hands-on learning while addressing critical issues in the financial services industry. The combination of the Idea Jam and on-campus financial coaching creates a unique, dynamic environment in which students not only solve real corporate problems but also gain financial management skills, essential for long-term success in their careers and lives.

Call to Action

The collaboration between U.S. Bank and the University of St. Thomas addresses two pressing needs: to prepare students for a rapidly changing financial landscape and to equip them with financial literacy tools. Recognizing that today’s students will need to navigate both professional and personal financial challenges, the two institutions developed an integrated program to provide hands-on experience in innovation while promoting financial wellness.

At the heart of this partnership is the U.S. Bank Innovation Week, an annual company event. In collaboration with the Schulze School, the bank created its first student Idea Jam in 2023 as part of its larger internal efforts to foster innovation. The Schulze School recruited 40 students to work in teams on real-world banking challenges and focus on how financial institutions could better engage with younger generations.

Additionally, to address a crucial need for financial literacy and goal setting among university stakeholders, U.S. Bank provides an on-campus goals coach to offer personalized financial coaching to students, faculty, and staff. By bringing these resources directly to the University of St. Thomas community, the partnership provides a holistic approach to financial well-being and innovation and prepares students for leadership roles in business and society.

Innovation Description

The U.S. Bank and Schulze School of Entrepreneurship partnership combines hands-on innovation challenges with direct financial wellness support. At the Idea Jam, students collaborate on business challenges provided by U.S. Bank, such as how to engage younger generations in banking.

This event allows students to apply their entrepreneurial skills to real-world scenarios, receive feedback from bank leaders, and present during U.S. Bank’s Innovation Week. Due to its success, the bank will now host the event twice annually, ensuring that more students benefit from this experiential learning opportunity.

In addition to the Idea Jam, U.S. Bank supports the financial wellness of the university community through its on-campus goals coach. Barry Saeger, a dedicated financial coach, is available three days a week to help students, faculty, and staff set and achieve personal financial goals. Saeger’s presence, with the dedicated U.S. Bank collaboration space on campus, provides a tangible, daily touchpoint for the university community to improve its financial education.

In a comprehensive approach to fostering both innovation and financial literacy, the partnership also includes annual scholarships and financial support for entrepreneurship programs. Through this collaboration, U.S. Bank and the University of St. Thomas are not only preparing students for careers in entrepreneurship but also giving them the financial tools they need to thrive personally and professionally.

Innovation Impact

The impact of this partnership is already being felt across the University of St. Thomas community. Over 40 students have participated in the U.S. Bank Idea Jam, where they learned to approach complex business problems with an entrepreneurial mindset. Many students have had their ideas reviewed by top U.S. Bank executives, with some insights being integrated into ongoing business strategies.

The financial wellness component of the partnership has also had a measurable impact. Hundreds of students and staff have accessed one-on-one financial coaching sessions with the U.S. Bank goals coach, leading to improved financial literacy and a stronger foundation for personal financial success.

Additionally, the partnership’s ongoing entrepreneurship and innovation financial backing enables the Schulze School to offer even more opportunities for students to engage in real-world business challenges.

As the program expands, it will continue to create mutual value for the university and the bank as well as equip future business leaders to meet the challenges of tomorrow.

Reference Links

• “Schulze Innovation Scholars Impress Executives at U.S. Bank,” University of St. Thomas website
• “Personal Finance 101 Comes to the University of St. Thomas,” U.S. Bank website