Hook The Kids

Hook The Kids

Local banks are working hard to woo young spenders

banks and kids lake business magazine akers media group lake county florida

• TD Bank officials have millennials on the brain after a poll showed that 33 percent of people age 18-34 (millenials) used a reloadable prepaid card in the past three years, and 60 percent of millennials who don’t currently use a prepaid card would consider using one. Last month, TD Bank launched TD Connect, a new reloadable bank card that can be used wherever Visa debit cards are accepted. Any 18-year-old can walk into a TD Bank and sign up to receive a TD Connect Card if they have a Social Security number, valid form ID and a minimum deposit of $25.

• Wells Fargo has launched Get College Ready, an interactive website to educate students, parents, families and high school counselors “on best practices for planning and preparing for college.” Get College Ready online provides an interface that brings overall financial and budgeting considerations, along with college financing details, together in a holistic view.

• FAIRWINDS Credit Union is ready to award $2,500 college scholarships to two local high school students. Applicants must be members of FAIRWINDS Credit Union and provide a letter of recommendation, SAT scores, written essay and a list of extracurricular activities. Apply online by May 8 at fairwinds.org/inside/in-the-community/scholarships.asp

• This month, SunTrust announced that it is teaming with Junior Achievement (JA) to “provide financial education to students” through a series of events. SunTrust volunteers are working with elementary, middle and high school students using JA’s curriculum to foster work-readiness, entrepreneurship, financial literacy skills and experiential learning.

• BB&T recently received the Innovation in Financial Education Award from Nasdaq and EverFi. BB&T was one of 25 national financial institutions honored for “recognizing significant efforts to improve the financial capability of young Americans.” Since 2010, BB&T has partnered with EverFi to bring a web-based financial education program to more than 185,000 through its BB&T Financial Foundations program.