This semester, Fifth Third Bank (Tampa Bay) is empowering more than 600 St. Petersburg College (SPC) students with the financial knowledge they need to succeed. The bank is conducting financial literacy seminars as part of SPC’s “Student Life Skills” course required for incoming freshmen.
“The number one reason most students drop out of college is finances,” said Tony Sasso, membership banking officer at Fifth Third Bank. “Our goal is to equip these students with a sound financial education and money management skills, so they can own their success, finish school and achieve their dreams.”
The bank’s financial seminar teaches topics such as:
- Tracking account balances, and why it’s important
- Decoding bank terminology and fees (e.g., overdraft, insufficient funds)
- Balancing a checking account, and why it’s important
- Budgeting and saving
- Defining credit and its different types
- Monitoring credit scores – what a credit score is, determining factors, “real world” implications
- Maintaining good credit
- Preventing identity theft and fraud
- Identifying credit card and ATM “skimmers,” including photos of common devices
SPC’s “Student Life Skills” class was designed to help students adjust to living on their own and understand the complexities of the “real world.” This is the first year money management and credit issues will be discussed as part of the course curriculum.
“These are the kind of immediately applicable lessons that make students sit up and pay attention,” said Dr. Michael Culligan, an instructor at St. Petersburg College. “Financial literacy is a critical foundation for the rest of these students’ education … and the rest of their lives. At SPC, that’s what we’re striving to do – give our students exactly what they need to succeed. We are so grateful for Fifth Third’s partnership in this effort.”
Eight Fifth Third (Tampa Bay) bankers – Tony Sasso, Barbie Mikler, Patrice Fryer, Troy Macri, Kristin Howard, Kelly Ballengee, Betty Sullivan and Charles Thybulle – are presenting the financial empowerment seminars to 23 SPC classes in October, reaching more than 600 students. The bank has also recently launched financial literacy efforts with Derrick Brooks Charities and Pinellas County Schools.