High school students learn financial responsibility through Burbank City Federal Credit Union
Area high school students learned about financial responsibility and mobile banking Monday during a program that also covered topics such as safety and fraud.
The program, called Independent Advantage, was started 18 years ago by Burbank City Federal Credit Union, which hosts a class of 40 students every month. The class meets once a week for four weeks in the credit union, and young people learn about the ins and outs of debit cards, ATM access and ways to stay safe using online banking.
Joanna Tomlinson, marketing project specialist for the credit union, led the session that focused on electronic access.
During the two hour session, students activated their debit cards and online accounts. They also received $20 to help them practice how to withdraw and deposit money from an ATM.
“The goal is to educate students on how to access their account outside of this room,” Tomlinson said, adding that the younger generation is better at utilizing technology than generations past.
Students were divided into groups and met with four advisers leading different workshops. Some students headed outside to practice using an ATM, others worked at a computer to activate their online accounts, while others downloaded the credit union’s mobile app.
Tomlinson encouraged students to utilize online resources that help navigate to ATMs that don’t have a surcharge and to closely monitor activity on their account to help avoid fraud.
In addition, Tomlinson said safety precautions when using an ATM include parking close to the machine in a well-lit area and being aware of their surroundings.
Isabella Hedman, 14, said she didn’t realize the financial responsibility that came with having a credit card, which the students could apply for through the program. She was surprised to hear there are “bad people” who would try to use her information to access her money.
Though Isabella said she felt confident in withdrawing her $20 after the program, she decided to leave it in her savings account.
Alex Acedo, 15, heard about the program through his older brother. The best tip he learned, Alex said, was knowing he could manage multiple accounts to save money for different things.
For Krysten Tyler, 14, she said she is excited to balance her own checkbook in the future. Krysten has seen her mother do it and said she was “looking forward to that responsibility.”
For more information about Independent Advantage, visit: https://bit.ly/2vGG4ax.
Twitter: @vegapriscella
