Employees of College Station-based American Momentum Bank volunteered their time this spring to support the Junior Achievement of the Permian Basin’s JA Economics for Success program. Ten bank employees volunteered at Midland’s Franks Elementary School in March, where they worked with sixth-grade students to teach practical information about personal finance.
“We believe that financial education at an early age has significant long-term benefits to young people,” says Jarod Thomas, West Texas president. “As a financial institution, we believe it’s our duty to support the mission of organizations like Junior Achievement that teach financial literacy—both financially and through volunteer efforts.”
JA Economics for Success provides practical information about personal finance and the importance of identifying education and career goals based on a student’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:
- How to set goals for their financial future and see the connection between personal finance, education and career;
- How different jobs provide different monthly salaries and the opportunity costs when making budget decisions;
- The different forms of payment methods and the advantages and disadvantages of each;
- How a credit score is determined and the consequences of a positive or negative credit report; and
- How insurance and personal responsibility help to reduce the financial consequences of loss or injury.
“We acknowledge that teachers wear many hats, and sharing our expertise in their classrooms is our way of saying thanks for all they do,” says Victor Salazar, senior vice president and chief retail officer of American Momentum Bank in West Texas. “Our team had a great time working with students and teaching them principles that will set them up for a positive financial future.”
American Momentum Bank regularly volunteers with Junior Achievement of the Permian Basin. Several employees have volunteered with the organization for decades, including Jane Baker, West Texas area banking center manager, who served as a board member from 2000 to 2018. Oscar Corral, customer care manager, currently serves on the board.
Established in 2006, American Momentum Bank operates 50 banking offices in Texas and Florida.
Pictured above: Natalie Salazar, Berenice Gonzalez, Irma Gomez, Jessica Foret, Aissa Madrid, Oscar Corral, Lori Cheney, Maria Guerrero and Victor Salazar. Kneeling is Jane Baker.
