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Recently, Daniel Sulpizio, SVP, and Director of Retail Banking of Parke Bank visited Collingswood High School to participate in the “How to Do Your Banking” program. During the presentation, Sulpizio informed students on how to obtain credit, the value of good credit, and how to build a good credit history.

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.

In 2016, according to survey results reported by CNBC, “The number of states that require high school students to complete a course in economics has dropped over the last two years.”  Additionally, the survey found “20 states currently mandate that high school students take economics — two fewer than in 2014.”

In 2018, according to a survey by the Council for Economic Education, only 1/3 of states require their students to take a personal finance course for graduation. The survey also found that only 17 states require students to take a personal finance course.

In addition to credit education, Sulpizio educated students on:

•    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

•    identity theft and ways to avoid it

Parke Bank values financial education, and by visiting high schools Parke Bank is helping prepare young students to live financially independent.

Through community outreach, Parke Bank continues to prepare youth, adults, and small business owners for the financial realities they may face.

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