Commonwealth Bank is giving Kindergarten to Year 12 teachers the opportunity to be recognised and awarded $10,000 to fund an existing or new financial education initiative at their school.

CommBank’s Teaching Awards celebrate and reward inspirational teachers from across Australia who are making an outstanding contribution to developing the money management skills of their students.

Now in its fourth year, the Teaching Awards have funded a range of exciting and innovative programs. One past award recipient, Elizabeth Bowyer, has established a lawnmowing service in a remote Indigenous community, teaching students how to effectively run a small business by using balance sheets to calculate overheads and determine profit and loss. Another award recipient, Nadine Saul, has helped her students to launch multiple school-based businesses who sell their products at a bi-annual market day.

Ian Narev, Commonwealth Bank Chief Executive Officer said, “Financial education lays the foundation for students to make well-informed, independent financial decisions throughout their lives. We know there are many inspiring teachers who are developing unique and engaging programs, to help build and strengthen this foundation. They deserve recognition, and we are pleased to be a part of that.”

To reward teachers for their contribution to building the financial skills of their students, Commonwealth Bank will award 15 teachers from across Australia with $10,000 each to further develop their financial learning program, as well as $2,000 for each winning teacher.

Applications for the 2015 awards are open until 5.00pm AEST on Monday 27 July 2015. Winners will be announced on Wednesday 30 September 2015. To apply for an award, or for more information, visit commbank.com.au/teachingawards