What is the Young Bankers Club?
Young Bankers Club (YBC) is a financial literacy program that teaches children about the importance of good education, finances, and personal responsibility. It is for fifth-grade elementary school students and is taught inside school classrooms, often by a Fifth Third Bank employee/mentor.
The goal is for students to be able to:
- Identify what money is
- Understand the difference between wants and needs
- Make basic money calculations
- Explore various careers and how much income they can earn
- Learn the basics of the stock market
- Understand the operations of a bank branch
- Create budgets and study spending
- Examine interest and credit cards
- Practice managing a bank account
- Learn how to create a business plan for a small business
Why are they receiving coats?
The Eastern Michigan region has donated winter coats as part of their YBC program for years. Fifth Third decided to add it to the Grand Rapids program because there is a need for the winter coats, but also to recognize the efforts of the youth who continue to grow as learners. They hope that they remember YBC and what they learned each time they put on their new coat.