Virginia Union University Opens State-of-the-Art Financial Literacy Lab
Virginia Union University (VUU) and Bank of America recently celebrated the grand opening of the university’s new Financial Markets Lab, marking a significant milestone in their joint effort to empower young adults through financial literacy and career development. The lab’s launch coincides with the initiation of the MORE program (My Opportunity is Real Essential), a comprehensive initiative supported by a generous $1 million grant from Bank of America.
The ribbon-cutting ceremony took place on October 24, 2024, drawing students, faculty, and community leaders to witness the unveiling of this state-of-the-art facility, housed in Pickford Hall. The lab is outfitted with 30 cutting-edge computers equipped with investment and budgeting software, along with four electronic stock tickers, providing students with an immersive experience in the world of finance.
The official launch was met with excitement and a shared vision for the future.
“As we officially launched the VUU Financial Markets Lab, we were proud to further our commitment to serving our students and the surrounding communities by providing them with the essential tools for success beyond the classroom,” emphasized Dr. Hakim J. Lucas, President and CEO of VUU. “With the support of this generous grant from Bank of America, the MORE program empowers students and local residents with financial literacy and career readiness, bringing valuable resources to communities that may otherwise lack access. This initiative is a vital step toward building generational wealth and economic opportunity within our communities.”
## Empowering Through Education and Opportunity
The MORE program encompasses three key pillars designed to foster financial literacy and career readiness, each targeting different segments of the community. The first component focuses on community outreach, specifically supporting students from nine schools across Chesterfield, Henrico, and Richmond counties. A mobile financial literacy van was deployed, designed to introduce young people, aged 10 to 18, to the fundamentals of finance and banking. This initiative also extended its reach to residents of the Gilpin Court community, providing education on wealth management, investments, and home ownership.
The second pillar, the Financial Markets Lab, serves as a hands-on learning environment for VUU students, offering them real-world insights into the complexities of the financial markets. Students gain practical experience using planning, budgeting, and investment software, while observing real-time stock market data through electronic stock tickers mirroring NASDAQ and the Dow Jones.
“We were excited to partner with Bank of America to provide our students with cutting-edge resources that prepare them for success in the financial industry,” shared Dr. Robin R. Davis, Executive Dean of the Sydney Lewis School of Business at Virginia Union University. “This partnership emphasizes our ongoing commitment to providing opportunities for our students to excel both academically and professionally.”
The third component of the MORE program centers on workforce development and assessment, ensuring students are equipped for job readiness. Through a dedicated workforce development coach, students receive support in preparing for internships during their sophomore and junior years. The coach provides assistance with mock interviews, job placement, and career assessment preparation, leveraging tools like Behavioral and Market Competency tests. Additionally, VUU hosts a quarterly Financial Business Speaker Series, connecting students with professionals from diverse sectors within
How will the Financial Markets Lab, through the MORE programme, support students from under-resourced backgrounds?
## Interview: Virginia Union University’s New Financial Markets Lab
**Host:** Joining us today is Dr. Hakim J. Lucas, President and CEO of Virginia Union University. Dr. Lucas, congratulations on the grand opening of the university’s new Financial Markets Lab! This is a truly exciting initiative. Can you tell our viewers a bit more about it?
**Dr. Lucas:** Thank you! We are thrilled about this new lab and the opportunities it presents for our students and the wider community. This state-of-the-art facility, made possible by a generous $1 million grant from Bank of America, is a key component of our My Opportunity is Real Essential (MORE) programme.
**Host:** Listening to that programme name, “MORE”, it sounds like this is designed to do more than just teach finance.
**Dr. Lucas:** Absolutely! The lab is equipped with 30 cutting-edge computers loaded with investment and budgeting software, and four electronic stock tickers, giving students hands-on experience in the world of finance. But the MORE programme goes beyond that. It has three pillars: community outreach to support students from under-resourced backgrounds, career readiness workshops and networking opportunities for VUU students, and financial literacy training for community residents.
**Host:** That’s impressive. It seems like VUU is taking a holistic approach to empowering its students and the larger community to achieve financial well-being.
**Dr. Lucas:** That’s precisely our goal. By providing these resources, we’re not only equipping individuals with the knowledge and skills but also fostering a sense of empowerment and hope for a brighter financial future. We want to break down financial barriers and create opportunities for generational wealth and economic growth right here in our community.
**Host:** The ribbon-cutting ceremony took place on October 24th. What was the reaction from students, faculty, and community members?
**Dr. Lucas:** The energy was truly electric! Everyone was incredibly excited about the potential of this lab and the MORE programme. We had a great turnout, and people were clearly passionate about this initiative.
**Host:** What are your hopes for the future of the Financial Markets Lab and the MORE programme?
**Dr. Lucas:** We hope to see this lab become a hub for innovation and collaboration, where students from diverse backgrounds can connect with industry professionals, learn from experienced mentors, and develop the skills they need to succeed in the evolving financial landscape. Ultimately, our goal is to make a lasting impact on our community by equipping individuals with the tools for financial independence and success.
**Host:** Thank you, Dr. Lucas, for sharing your vision with us today.
