Justin Nipper, Chairman, TBA Young Bankers Division
Executive Vice President/Chief Administrative Officer, The Farmers Bank, Portland
Every banker knows financial health is the cornerstone of accomplishing your goals…and to navigate the financial landscape, it’s important to be financially literate. Whether it’s managing money on a day-to-day basis, starting a business, or saving for the long-term, getting to your goals involves understanding your money and what it can do.
Yet many Tennesseans lack financial literacy, and the situation is dire for more than a few. More than half of Americans can’t cover a $1,000 emergency expense with savings, per a Bankrate survey. Meanwhile, about 20% of employees run out of money before their next paycheck, according to Salary Finance.
That’s why it’s our responsibility to ensure that our financial education programs are available and easy to understand so our neighbors can get the tools they need to lay a stronger financial foundation for the future.
There’s no better time to reach out then by participating in the 5th annual Tennessee Financial Literacy Week, April 3-7, 2023. Here’s step-by-step how you can take part and make a difference.
- Identify a point-of-contact in your bank
This banker will be the “go-to” person all things Financial Literacy Week and will be the liaison between your bank and TBA. He or she will register your bank, receive pertinent communication about the event (such as tool-kit presentations, worksheets, and promotional flyers), and delegate tasks (such as social media posting).
- Plan an event
Tennessee Financial Literacy Week events are not limited to any age group or setting; we just ask that the presentation or event is focused on financial literacy. Topics include: how school-aged children can save or use credit wisely; how seniors can safeguard funds or avoid scams; a Rotary Club presentation on banking; or a promotional event in-bank or virtually with customers to highlight a certain product or service.
- Register your bank’s participation
TBA asks that every member bank register their plans by submitting a simple registration form at TNBankers.org/finlitweek. This can be done at any point leading up to the event. This way we can quantify the impact to promote the collective good by Tennessee’s banks, and know which counties and legislative districts have banks that are engaged in the week.
- Promote your bank’s activities
Using the social media hashtag, #TNFinLit, banks across the state can promote their financial literacy efforts in the community during Tennessee Financial Literacy Week and throughout the year. If all banks use the same hashtag, the collective benefit from all banks’ efforts in Tennessee can be easily recognized.
- Have fun!
It’s up to Tennessee bankers to help our fellow Tennesseans to be the best they can when it comes to financial literacy. So between April 3-7, let’s get out there and do our part. We look forward to seeing you help make a difference.