Financial Literacy Month: From Piggy Banks to Personal Finance

Penn Community Bank teams up with Pennridge School District for student financial literacy program

Recent studies show that, three out of four of teens don’t feel confident in their financial knowledge, preventing them from building a base for future financial decision-making – from building a budget to saving from summer job.

In an effort to help build a firm foundation for local kids, Penn Community Bank has teamed up with Pennridge School District to offer a new Financial Literacy Lessons program for middle school students. With a parent’s permission, students in 6^th, 7^th, and 8^th grade at Pennridge South, North, and Central middle schools signed up to attend the voluntary financial education session during their study hall or elective period.

The series aims to empower young learners to make informed financial decisions and develop good financial habits early – focusing on basic financial concepts, such as earning, budgeting, saving, and spending.

The presentation given by a local Penn Community Bank team member and covered real-world concepts and situations that they are likely to encounter in their young adulthood. But, banking and finances doesn’t have to be all business. Throughout the informational session were activities, Q&As, scenarios, and quizzes to test students’ knowledge and understanding of the concepts. A student-favorite activity was working as a group to build a budget, including tracking income and expenses and – if needed – identifying areas to cut back to make the numbers work.

In addition to the importance financial literacy information, students and parents received a special offer from Penn Community Bank. With proof of participation, families could earn up to a $25 cash bonus upon opening a Junior Statement Savings account. The account, designed specifically for kids ages 12-17, offers the flexibility of a low minimum daily balance requirement to earn interest and is a great opportunity for families to continue their financial education at home.

“Middle school is full of milestones and personal growth. For many students, that means shifting from a piggy bank mindset to a more robust understanding of personal finance,” said Jake Iampietro, Director of Retail Banking at Penn Community Bank. “The success Financial Literacy Lessons is a testament to the vital role financial institutions play in empowering young people to make informed financial decisions. By teaming with local schools to provide students with the knowledge and tools they need, we can help ensure a financially secure future for the community.”

For more information on financial literacy or to open an account, visit a branch today or head to www.penncommunitybank.com.

A special thanks to program presenters John Kroos – Branch Manager, Market St. (Perkasie); Jake Iampietro – Director of Retail Banking; and Jessica Althouse – Multi-Site Manager. Additional thanks to Penn Community Bank Marketing staff, including Christa Vogel, for supporting development of program curriculum.

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About Penn Community Bank: Penn Community Bank holds more than $2.6 billion in assets, employs more than 300 people, and offers banking and lending services at 20+ bank financial centers and three administrative centers throughout southeastern Pennsylvania. As an independent, mutual financial institution, Penn Community Bank is not publicly traded and operates with its long-term mission in mind: to help businesses grow and prosper, to provide financial resources to individuals and families throughout their lifetimes, to strengthen the local economy, and to partner with local organizations to act as a catalyst for positive growth in every market it serves. In support of this mission, Penn Community Bank’s charitable arm, the Penn Community Bank Foundation, contributes 5% of the institution’s net income each year to area nonprofits and community groups making a difference in the region.