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Financial Education -- Indicative of a Secure Industry

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Financial Education, Indicative of a Secure Industry

By Stephen R. Martin

There's no better time than now for the banking industry to increase our visibility in our nation's schools. Despite the headlines, the industry remains strong and ready to support our communities. Just as patrolling officers reassure citizens of a secure neighborhood, bankers in classrooms are a symbol of a safe-and-sound industry.

Many of you remember your local banker, armed with a roll of coins, visiting your school to talk about saving or balancing a check book. But will our children have similar memories? How many of us have carried on the tradition and routinely visit classrooms?

Banks are community-focused and committed to our youth. We sponsor local Little League teams and community events that give back to our schools. Banks are genuinely in tune with the cities and neighborhoods they serve. Now we need to go the extra step and get back in the classroom.

In the past 12 years, nearly 69,000 bankers have volunteered in classrooms across the country as part of the ABA Education Foundation programs. That's an impressive number, but still less than 4 percent of our 2 million-strong industry. Imagine the impact we could make if each of the industry's 88,320 bank branches committed to reaching out to just one of their local schools.

On Oct. 16, the ABA Education Foundation will celebrate its sixth annual Get Smart About Credit Day. This is an excellent opportunity for the banking industry to show our strength and our commitment to educating young people about responsible credit use. As volunteer bankers we can bring real-world experiences to the classroom, reinforcing the financial lessons students learn at home.

Helping young people understand that the decisions they make today can affect them for the rest of their lives is our priority as we shape the next generation of customers. Credit is more than a piece of plastic -- for many people it's the stepping stone to renting an apartment, buying a car or purchasing their first home. It's time for more bankers to share what we know about how a positive credit history can open many doors, while a negative credit history can slam those doors shut.

Educated, well-informed consumers are our industry's best customers. The Get Smart About Credit program gives us another chance to put our expertise to use by helping new generations better understand the dos and don'ts of responsible credit use.

Participating bankers can schedule presentations at their local high school or college, during after-school programs or at other times at community centers. Register for the program and complete a short online form. Those who register for Get Smart About Credit Day will be recognized in ABA publications and on the foundation's Web site.

We want to see our industry's commitment to financial education continue to grow. Call the ABA Education Foundation at 1-800-BANKERS or visit www.abaef.com to learn how your bank can get involved in providing a solid financial education to your next generation of customers.

More than any other group of professionals, bankers are prepared to teach young people about being responsible credit users. We just need to get started. You might learn something; you'll almost certainly have fun. I'll see you in class.

Martin is the chairman of the ABA Education Foundation and vice president of public relations and marketing at Canandaigua National Bank, Canandaigua, N.Y.

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Supplement Staff:
John Ginovsky,
Managing Editor; 
Deborah Powell,
Designer

Contributors:
Pat Dalton, Keith Leggett, Stephen R. Martin