Financial Literacy

What is Financial Literacy?

Financial Literacy is the ability to understand and effectively use various financial skills to management and resources, making informed decisions about earning, budgeting, loans, borrowing, spending, and investing.  it's about possessing the knowledge and skills to navigate the financial world and make choices that lead to stability and financial wellbeing.

The key is to understand the 4 pillars of financial literacy:

1. Debt
2. Budgeting
3. Saving
4. Investing

It's understanding how to build wealth throughout one's life by leveraging the power of these pillars.

April became Financial Literacy Month  in the United States in 2004 when U.S. Congress passed a bill recognizing the month.  The Senate had previously designated April as Financial Literacy Month in 2003.  The purpose of designation was to raise public awareness about the importance of financial education.

What are we doing?

As a financial institution we are deeply interested in helping young people become wise stewards of their money.  We feel that financial literacy is a very important skill that our youth should have in order to be successful in their adult lives.  This is why, after much research, we have partnered with a nationally recognized educator to offer an online financial literacy program to local high school students.

This program teaches students through the user of various life scenarios - where they are creating budgets, paying various types of bills and navigating taxes. By using technology as a platform instead of traditional text books, the learning becomes much more fun and engaging for the students. Many schools across the country have embraced this program and made it part of their class curriculum.