Pinnacle High School students get 'smart about credit' from Zions Bank
While teens say they are eager to learn about money management before making mistakes in the real world, only about a third of them understand how credit card interest and fees work, according to the 2011 Teens & Money Survey by Charles Schwab & Co., Inc.
In an effort to increase understanding of the perks and pitfalls of credit, Zions bankers are visiting schools throughout Utah this month to teach them how to make good credit decisions now in order to secure their financial futures.
On Monday, banker Scott Olsen of Zions Bank's Price Office taught high school students at Pinnacle Canyon Academy in support of National Get Smart About Credit Day.
Now in its 10th year, National Get Smart About Credit Day - an outreach program offered through the American Bankers Association Education Foundation - is targeted to high school students before most of them obtain credit cards. Across Idaho and Utah, Zions Bank employees will be teaching nearly 2,000 teens the importance of using credit wisely.
"I'm happy to give these students a road map for success because the choices they make with their first credit card will impact their lives for many years to come, such as when they apply for a car loan or even a mortgage," Olsen said. "Plus, financially educated consumers are more likely to save for the future and manage their money responsibly."
Zions Bank is Utah's oldest financial institution and is the only local bank with a statewide distribution of branches, operating 106 full-service offices.