While most kids like to earn money of their own, they do not always understand the value of their earnings or what to do with their money outside of spending it. Two years ago, Boys & Girls Clubs of Porter County and Fifth Third Bank entered into a partnership to teach kids how to save!
“Our Money Matters program actually goes beyond just teaching kids how to save,” states Ryan Smiley, president of Boys & Girls Clubs of Porter County, “This program teaches youth the value of their earnings, what happens when you save, how to write a check, and what the importance of investing means. We are fortunate to partner with Fifth Third Bank on teaching our kids such concepts.”
Not only does Fifth Third Bank provide a program sponsorship for Money Matters, their bank associates take the time to volunteer and teach Boys & Girls Clubs of Porter County members the value of their earnings in two eight to ten week program sessions. This partnership began with the Portage Club in 2014 and expanded to the Valparaiso and South Haven Clubs in 2015.
“This is a small group project where Club members are selected to participate in Money Matters if they want to work in the Clubs’ Teen Enterprise venture,” states Dan Welch, Director of Programs and Outcomes. “Teen Enterprise is the concession business in our Valparaiso, Portage, and South Haven Clubs during league season. In order for our Club members to work in Teen Enterprise, they must complete the Money Matters program. As a result of their graduation from the program, and the success of the Clubs’ concession business, each Club member receives a stipend based on the earnings the concession business generated,” further explains Welch. “Fifth Third Bank helps our Club members understand what they can do with such a stipend and better understand the value of their money.”
On December 7, 2015, Fifth Third Bank hosted a formal graduation ceremony for the first session of Money Matter participants – and Teen Enterprise employees. Fueled by a meal from Chipotle, requested by Club members, Fifth Third Bank associates presented their Money Matters “graduating class” with a certificate of completion and a check for $25.53, above their Teen Enterprise stipend, to open a savings account.
“Fifth Third Bank is extremely proud to continue its work and support of the Boys & Girls Clubs of Porter County. Money Matters is a great program which teaches teens real life financial literacy concepts. Our employees have thoroughly enjoyed the opportunity to share their knowledge and expertise with the teens participating in the program across the three clubs. We are proud to work with the youth of Porter County and see our participation with the Teen Enterprise Program as an opportunity to empower them for the future.
Congratulations to the graduates of the fall 2015 Teen Enterprise Program. We are excited to continue our work with the Boys & Girls Clubs of Porter County in 2016 and look forward to the next group of Money Matters Program participants.” Michael Sobeck, Retail Regional Manager, Vice President, Fifth Third Bank
About Boys & Girls Clubs of Porter County:
For more than forty years, Boys & Girls Clubs of Porter County (bgcpoco.org) has enabled young people to achieve GREAT futures as productive, caring, responsible citizens. Four Club sites and nine Kidstop locations throughout Porter County serves nearly 5,000 young people annually through Club membership and community outreach. Boys & Girls Clubs of Porter County provides a safe place, caring adult mentors, fun, friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Priority programs emphasize academic success, good character and citizenship, and healthy lifestyles. When school is out, our Clubs are in! Learn more about membership, volunteer opportunities, or how to make a tax deductible donation to Boys & Girls Clubs of Porter County by contacting your local Club at (219) 464-7282, or by visiting bgcpoco.org, http://www.bgcpoco.org/facebook, and http://bgcpoco.org/twitter. Great Futures Start HERE.