Rewriting Our Book On Financial Literacy
Vinton County National Bank has long been a proponent of financial literacy. This has never been more clear than right now as the bank has created a new program that focuses on financial literacy for all ages.
Community Relations Officer Justine Fyffe is leading the charge to consolidate and strengthen the bank's efforts to help individuals learn about managing money, the value of good credit and their vitally important role to protect their own money.
"As a community bank, we take pride in the areas we live in and work. Since we're always looking for ways to give back, it makes sense that we use our expertise in finances, staying safe from scams, and other useful topics to help others," Fyffe said as she listed some of the areas where bankers are able to contribute.
She indicated that the bank provides financial literacy support to students ages kindergarten through high school and that lessons can be tailored to the grade level and individual needs of the classroom.
In elementary classrooms, the topics tend to focus on what a bank does, spending and saving, and on the difference between a need and a want.
Bankers often go into high schools as well. Those presentations look a little different as these students will be on their own in a few years and need to understand the purpose of a checking account, how to responsibly use credit and other practical topics that will give them a boost in managing their finances.
In Bremen, Branch Manager Heather Yontz champions the Bremen Bank Days program which involves bankers going to the elementary school once a month to accept deposits from students. Those youngsters who take part in the program are known as Super Savers and are rewarded for their good savings efforts with ice cream at year end.
Sometimes, though, the kids come to the bank. For example, Ashville Branch Manager Katie Wright recently hosted 100 second- grade students from Teays Valley Schools. They toured the bank and learned all about how banks work and how we keep their money safe.
VCNB also sponsors a program for several schools that provides online curriculum for students to improve their financial literacy. Any teacher at a VCNB sponsored school can use it in their classroom as part of their curriculum and to meet Ohio's financial literacy graduation requirements.
A scholarship introduced in 2024 will reward one graduating high school senior with a $5,000 scholarship that they can use for any kind of continuing education including trade school, college or a certificate. All applicants are recognized on the bank's Facebook page and a winner will be chosen by a committee within the bank that includes representation from various regions and departments.
In addition to teaching financial literacy, the bank also supports local school organizations and events as well as other organizations through 4-H Clubs, senior centers and other groups that welcome support and education.
Since the lessons can be tailored to the audience, we can talk to 4-H'ers about managing their livestock sale profits and to the Rotary Club about protecting themselves from scams.
Bankers commonly talk money with Junior Achievement and pitch in at Real Money, Real World events sponsored by OSU Extension at schools across our region. This event challenges each student to budget for living expenses and wants within a unique budget and life circumstances they are assigned at the beginning.
We also commonly send bankers to school career days and mock interviews to help students learn interviewing skills and to hear about the various types of careers found in banking.
Fyffe worked for a larger regional bank for a few years before coming to VCNB in 2013. With a B.S. in Business Marketing and a teaching certificate in Business Education for K-12, Fyffe is well qualified for this new role. Her role as mom to two young kids helps as well!
For the most part, Fyffe's role is behind in the scenes in creating curriculum and giving others the tools to give classroom talks.
That's because the bank believes it is vital to have local faces in the classrooms and out speaking to people at events.
"We want our local employees out in the community talking to people because it's important to know your bankers and to see familiar faces when you come in the bank. If a banker tells a child to stop by the bank for a tour, that person will actually be there to give that child the tour. This is how we build relationships," she said.
Why has the bank placed so much emphasis on financial literacy? Fyffe says it has a lot to do with being good neighbors and giving back to our communities.
"We see value in sharing our expertise and in helping others to protect themselves and their money. We know there is value in helping the next generation form good financial habits so they can use their money to build a good life and chase after their dreams. It's important to help and to be good neighbors when we can."