Employees of American Momentum Bank volunteered their time last month to support Junior Achievement of the Permian Basinâ€™s JA Economics for SuccessÂ® Program. Ten bank employees volunteered at Franks Elementary School in Midland, Texas, on March 23, where they worked with sixth-grade students to teach practical information about personal finance.
â€œWe believe that financial education at an early age has significant long-term benefits to young people,â€ said Jarod Thomas, West Texas President of American Momentum Bank. â€œAs a financial institution, we believe itâ€™s our duty to support the mission of organizations like Junior Achievement that teach financial literacy, both financially and through volunteer efforts.â€
JA Economics for Success provides practical information about personal finance and the importance of identifying education and career goals based on a studentâ€™s skills, interests and values. Following participation in the program, students will be able to develop their knowledge of personal finance so they can apply strong financial management skills regardless of income, and make informed decisions about their education, career and life.
American Momentum Bank employees spent time in four sixth-grade classrooms discussing topics such as:
â€¢ How to set goals for their financial future and see the connection between personal finance, education and career.
â€¢ How different jobs provide different monthly salaries and the opportunity costs when making budget decisions.
â€¢ The different forms of payment methods, and advantages and disadvantages of each.
â€¢ How a credit score is determined and the consequences of a positive and negative credit report.
â€¢ How insurance and personal responsibility help to reduce the financial consequences of loss or injury.
â€œWe acknowledge that teachers wear many hats, and sharing our expertise in their classrooms is our way of saying thanks for all they do,â€ said Victor Salazar, Senior Vice President and Chief Retail Officer of American Momentum Bank in West Texas. â€œOur team had a great time working with students and teaching them principles that will set them up for a positive financial future.â€
American Momentum Bank regularly volunteers with Junior Achievement of the Permian Basin. Several employees have volunteered with the organization for decades, including West Texas Area Banking Center Manager Jane Baker, who served as a board member from 2000 to 2018. Oscar Corral, Customer Care Manager for American Momentum Bank, currently serves on the board.
About American Momentum Bank
American Momentum Bank, a Texas-chartered banking association with total assets of $2.8 billion as of March 31, 2022, provides comprehensive products and services for businesses and individuals. American Momentum Bank has 18 full-service banking centers in Texas and nine full-service banking centers in Florida. American Momentum Bankâ€™s strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. Visit www.americanmomentum.bank to learn more.