United Bank of Iowa

As a lesson in Kurt Brown's class at OABCIG high school, he invites a few of us from United Bank of Iowa to talk to his students about different topics. Brook Boeckman, Lisa Witten, and Marcia Cates presented on topics such as credit, getting a loan, balancing a checking account, and also answering any questions the students had. 

Brook Boeckman talks to the class about Credit and what it is.  "I explain what credit reports are and what they show and also give kids every day examples on how to gain credit & to also wreck your credit. I explain to them why it is so important to have good credit. I get a lot of questions about my job and they ask a lot of personal questions relating to their own credit."

Lisa Witten talks about getting their first loan. "I enjoy going to the High School Personal Finance Class every semester. I talk about how to get your first loan. I discuss the importance of their banking relationship & what we look for when approving or denying a loan. I stress the importance of how they handle that very first loan & how it affects their future finances. I also stress the importance of building good credit so they are prepared when it comes time to finance their first home. Most of their questions revolve around repossession of a vehicle! A lot of them don’t realize we actually hold onto their title until the loan is paid in full & we will actually take the vehicle back if they don’t follow the loan agreement!"

Marcia Cates talked about checking accounts. I talked to the class about the right time to get a checking account, some do's and don'ts and how to properly use one. Many high school aged students have part time jobs and this is a great time to open a checking account and start to use it while they have the help from their parents. I also talk to the students about the importance of creating a relationship with your local bank and the benefits that can have.