Washington, DC (PRWEB) August 29, 2014
Since the majority of college students have headed back to campus for the fall semester, the Independent Community Bankers of America® (ICBA) and the nation’s more than 6,500 community banks encourage young adults to prepare financially by following practical financial advice.
“Young adults are busy establishing themselves in the real world with their first jobs or at college, but it’s important that they also work toward preparing themselves by learning how to incorporate practical financial advice into their daily routines,” said John Buhrmaster, president and CEO of 1st National Bank in Scotia, N.Y. “Credit plays a huge role in helping adults achieve personal and professional goals, so it’s important that young adults establish credit and use it wisely.”
ICBA and the nation’s community bankers suggest the following financial tips and advice for young adults:
“It is fundamental that adults establish and maintain good credit. Community bankers are excellent resources, and so is Visa’s Practical Money Skills. Practical Money Skills is geared toward various age groups as a free resource to provide credit, savings and other financial advice,” said Linda Echard, president and CEO of ICBA Bancard. “In addition to paying more than the minimum on every credit card balance you may have, try to pay the most on the account balance with the highest interest rate.”
Community banks nationwide are on hand to help young adults learn more about credit cards and how to properly manage their credit, create savings accounts and learn more on how to become more financially literate.
During the month of August, ICBA is spotlighting community banks that are active and engaged in local youth financial literacy efforts on the association’s Go Local blog and social media channels. ICBA has also released several consumer-related press releases this month to provide financial literacy tools for parents and elementary to college-aged students.
The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit http://www.icba.org.
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