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Two thirds of Americans can’t pass a basic financial literacy test, according to a 2016 study reported by Fortune. Two thirds—that’s more than 200 million people! Young Americans Center for Financial Education is working to change this gloomy statistic, and for the past 22 years, FirstBank has been a valuable partner in this work.
FirstBank of South Jeffco first sponsored Young Americans Center though our 1994 “Class Transactions” program that introduced banking concepts to elementary students in their classrooms. The partnership quickly grew to include a sponsorship of the Bank at Young AmeriTowne, an investment to open the Lakewood/Belmar Young AmeriTowne location, support of Young Americans Center’s annual fundraiser and, most recently, funding for the student and business check books in Young AmeriTowne Lakewood/Belmar.
A bit of background: every student who attends Young AmeriTowne receives his or her own personal checkbook for use in Towne. Checks are used for paying
Each of the Towne’s 9–17 shops uses checks to pay expenses. Expenses include products sold, advertising expenses, health insurance for employees and a business license fee.
Thanks to FirstBank, both personal and business checks are provided at a discount to each participating school. The use of checks enables students to actively participate in the banking process and provides them with valuable experience for opening their own bank account or someday running their own businesses. After her trip to AmeriTowne, Marlenee wrote, “I feel like it is going to be easier later in life to use a checkbook or debit card. I think it is the perfect place for kids to know how to run a business and to learn about the economy.”
Thank you FirstBank for your generous, long-time support of financial education!