ParkeBank Sponsors “How to Do Your Banking” Program and Speaks at GCIT
As a community bank, ParkeBank continually supports its local neighborhoods in a variety of ways. ParkeBank is sponsoring a program entitled, “How to Do Your Banking,” available to various local high schools as part of its financial literacy effort. Financial literacy guidance given to young adults enables them to manage their finances and arms them with essential lifelong skills.
Surveys indicate 84 percent of high school students want instruction in financial matters, but only one in three teens knows how to read a bank statement, balance a checkbook, or pay bills – making this an important program among high schoolers. By sponsoring “How to Do Your Banking,” ParkeBank is helping prepare young students to live independently.
Recently, Daniel Sulpizio, SVP and Director of Retail Banking at ParkeBank visited Gloucester County Institute of Technology (GCIT) to participate in the “How to Do Your Banking” program, where he spoke to students about how to obtain credit, the value of good credit, and how to determine their own capacity to borrow and repay. Through additional speakers, workbooks, facsimile documents, role-play simulations, and audio and video exercises, students also learn:
- the importance of saving, even small amounts, regularly by budgeting as a means of achieving financial goals
- the basics of investing
- how to correctly and safely navigate electronic banking, including ATMs, debit/check cards, online banking, online bill paying, mobile banking, and mobile text banking
- how to keep checking transactions in balance, including reconciling an account with a bank statement
- what they can do as young adults to build a good credit history
- about identify theft and ways to avoid it
As a community bank, ParkeBank is an advocate for teaching smart banking at a young age. ParkeBank believes that helping young adults learn good money habits to raise level of financial responsibility will pay big dividends for them and the community alike. See how else ParkeBank is serving its community by visiting here.