Financial Literacy With Minster Bank: Students Gain Money Smarts

Minster Bank President Dale Luebke with students during financial literacy program

During the 2018-19 school year, Minster Bank reached around 2,000 students from kindergarten to high school through their financial literacy programs.

Through these programs, which are held in each of the counties where Minster Bank branches are located – Auglaize, Shelby, Miami and Montgomery – Minster Bank representatives teach students financial skills in a fun and interactive way.

Minster Bank President and CEO Dale Luebke believes in the importance of financial literacy so strongly that he has participated in a couple of programs in 2019, including Phyllis Kremer’s fifth-grade class at Minster Schools.

Students in Mrs. Kremer's class participate in Minster Bank financial literacy program‘Survivor Island’ in Mrs. Kremer’s Fifth-Grade Class

Kremer had visited Minster Bank’s office in the past and knew about Minster Bank’s financial literacy programs. Hearing from another teacher on their experience triggered Kremer hosting the “Survivor Island” program in her classroom in 2019.

“(For the program) the students had $1,000 to spend to go on an island for four months,” Kremer said. “They had this whole list of things they could take with them. First, they had to use purchasing skills and add up the money.”

The program incorporated the 21st-century skills Kremer’s fifth-grade students learn, such as critical thinking.

“A TV was one of the examples, so someone bought a TV but didn’t think about the fact that they were told there was no electricity or buying a bunch of wood but they didn’t buy matches or buying flashlights but they didn’t buy batteries,” she said, noting how her students incorporated critical thinking.

The program also challenged her students to be creative – boiling water instead of buying it, for example – another one of the skills they learned.

She added, “I felt it was a good program; when they discussed the wants versus needs, for example — we just need food, water and air — (and) what we really need to survive. Plus, checking out their purchases was interesting.”

Related: 4 Easy Ways to Make Family Budgeting Fun >>

Students in Mrs. Kremer's class at Minster Schools present findings during Minster Bank financial literacy programStudents Thinking About Their Future With Minster Bank

In addition to holding their “Survivor Island” program, Luebke took time to discuss financial career opportunities with Kremer’s students during their visit.

“I think that’s important for fifth-grade students because they might find something they like, something they’re good at,” Kremer said. “You don’t realize all the careers that are out there.”

During the visit, savings accounts were discussed with Kremer’s students.

“They gave all the kids an opportunity to set up a savings account,” she said. “They talked about how they spend their money and how they earn money and do any of them have a job. The kids discussed what jobs they had and if they made money through lawn mowing or babysitting, and if they made money, what did they do with the money.

“Some kids spent it all, some saved; some kids’ parents make them donate some, save some and spend some; they have a plan with what they have to do with the money they earn.”

Kremer said each student received a certificate to open up a savings account with a $10 starting balance, as well as a cleaner for the students’ iPads or phones.

While this was the first time Kremer hosted one of Minster Bank’s financial literacy programs in her classroom, she said it wouldn’t be her last.

“I definitely would have them back again,” she said, adding she liked that the program incorporated teamwork among her students. “I would like to try another program and see what else they offer.”

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A Minster Bank employee visits with students during a financial literacy eventLearn More About Financial Literacy Programs at Minster Bank

Throughout the 2018-19 school year, Minster Bank had 20 employees, including President Luebke, participate in more than 30 financial literacy programs in classrooms.

Minster Bank’s financial literacy programs include lessons like:

  • • Survivor Island programs where students must stay within a budget and determine which items to take to survive on a deserted island.
  • • Planning a Thanksgiving helps students learn to budget for a Thanksgiving meal.
  • • Bunny Money helps young students learn how quickly money can be used for non-essentials.
  • • Sticker Store allows students to purchase stickers while staying within a budget.
  • • Bank tours show students the different departments of the bank and see the popular “race at the drive-through“ window to see which tube is fastest.
  • Real Money. Real World: Minster Bank representatives have also participated in this program offered at local schools through the OSU Extension Offices.

Contact Minster Bank to learn more about our financial literacy programs for your classroom.

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