Chemical Bank in Midland 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 19 at Bucks Run Golf Club in Mount Pleasant.
This award is given to banks making the greatest efforts to educate their community on financial literacy.
Chemical Bank reached more than 8,800 individuals through their financial literacy efforts. The bank offered seminars on budgeting and identifying spending habits, how to use a credit card to establish credit and other financial topics.
The bank also offered presentations to elementary schools on how a community works, why people have to work and how a business works. They also learned about work concepts, coin recognition and the importance of saving.
The lack of financial literacy contributes directly to poor credit and can place individuals at a higher risk for crimes such as identity theft.