Spencer, NY (April 5, 2022) – Tioga State Bank and the Independent Community Bankers of America (ICBA) are celebrating Financial Literacy Month in April and encouraging Americans to take control of their financial future by learning fiscally responsible habits and putting these lessons into practice.
Only one-third of adults can answer at least four of five financial literacy questions on fundamental concepts such as mortgages, interest rates, inflation and risk. And 78 percent of U.S. adults believe that despite what they already know about personal finance, they could still benefit from financial advice and answers to everyday financial questions from a professional.
Regardless of your age or life stage, having strong financial principles and sound money management practices can help you avoid financial missteps and position you for greater financial success. As financial stewards, invested in the success of our community, we are uniquely suited to help you realize your financial potential.
Often referred to as America’s favorite lenders, community banks are financial experts with a wealth of knowledge and local expertise to help consumers with:
- Budgeting to help you track income and expenses and build a plan to manage your finances, reach your financial goals, and create a nest egg.
- Saving and investing to help you assess savings and investment goals and vehicles.
- Using credit to establish and maintain good credit so you can reap the benefits from this convenient and flexible form of payment without the consequences of mismanagement.
- Understanding debt load and available options like debt consolidation.
“Before you can build generational wealth or create financial security, you need a strong foundation of money management best practices,” ICBA President and CEO Rebeca Romero Rainey said. “Community banks offer important savings products and services to finance major purchases and you reach your savings and investment goals to set you on a path to financial freedom.”
Tioga State Bank has partnered with Zogo to help our customers learn the basics of personal finance. The best part? Get paid to use it. Zogo is a gamified financial literacy app that rewards users for completing bite-sized financial literacy lessons on intelligently saving, spending, and managing their money. Level up and earn while you learn, with real-life rewards – like gift cards to your favorite stores!
ICBA also offers financial literacy programs through community bank partners including Visa’s Practical Money Skills, the FDIC’s Money Smart initiatives and the Jump$tart Coalition for Personal Financial Literacy.
About ICBA
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.