Academic journal article ABA Banking Journal

Credit Boot Camp

Academic journal article ABA Banking Journal

Credit Boot Camp

Article excerpt

On Oct. 21, bankers will enter a new realm. Instead of walking into their offices, bankers will head "back to school" to lead an influential program that will make a difference in the lives of our youth. ABA's Get Smart About Credit Day, in its second year, is designed to teach high school and college students the importance of financial responsibility with an emphasis on how to handle credit cards.

"The goal of this program is let people know that credit cards are a privilege and a responsibility, not a right," states M. Kathryn Kelly, assistant director of the ABA Education Foundation. The foundation designed its Credit Day kit to be the "411" of financial responsibility, by teaching what the difference is between a credit card and debit card, how to budget, and how to read the fine print in choosing the right credit card.

Kelly says that millions of high school students, in particular, need to be taught basic, practical financial skills. The credit-related skills covered by the kit were designed to supplement the typical personal economic curriculums being taught in the classroom. "This practical credit information can make a difference in someone's life," Kelly observes.

No one knows this better than Shannon Contreras, CRA administrator for the $267 million-asset First Bank & Trust in Duncan, Okla. Last year, she was invited to spend the day at the Red River Technology Center, the county's local accounting and vocational school. Contreras' class was part of the educational group known as Focus, which provides training for residents that participate in the needy families program through the state's Department of Human Services. The group included a mix of ages ranging from 17 to 40. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.