Thumb National Bank & Trust Company in Pigeon is being honored by the Michigan Bankers Association for their financial literacy efforts. They will receive their 2011 Financial Literacy Award during their region’s MBA Group Meeting May 18 at Lakeview Hills Golf Resort, Lexington.
This award is given to banks making the greatest efforts to educate their community on financial literacy.
Thumb National Bank & Trust Company gave presentations to high school students on checking accounts, savings accounts, loans and to prepare them for graduation. The bank discussed all the products that are offered through the bank, reviewed credit reports and how they work and the importance of having a good credit score.
The bank worked with Boy Scouts of America earning their Personal Management Merit Badge. The scouts learned numerous financial skills starting with managing their money, setting short-term and long-term financial goals, being a smart shopper and using various bank accounts.
The lack of financial literacy contributes directly to poor credit and can place individuals at a higher risk for crimes such as identity theft.
