TBO.com - TBO is Tampa Bay Online

Bankers help PACE get money smart

ADVERTISEMENT

BY RONNIE BLAIR

THE TAMPA TRIBUNE

Published: March 6, 2009

NEW PORT RICHEY - It was checkbook time for the 10 students in the PACE Center for Girls classroom.

They weren't spending money, though - at least, not yet.

Instead, the girls were learning the advantages, responsibilities and pitfalls of establishing a checking account.

The lessons came courtesy of First Bank of Lutz, which is teaming with PACE during the next few months to give the girls a little financial savvy.

Danielle Taylor-Fagan, executive director of PACE in Pasco, said the finance lessons are especially important to the girls enrolled at the school, some of whom are helping support their families or end up on their own much quicker than most young people.

"This is a great program," she said.

The bank employees visit PACE twice a month to offer the girls tips on how to handle money. They hold three 50-minute classes.

During the course of the program, they will discuss loans, credit cards, saving money and owning a home, among other topics.

Sandy Golberg, branch manager for First Bank of Lutz, said the partnership with PACE is a way for the bank to give back to the community.

"We're just hoping we can touch some of their lives, and they will learn something and be responsible when they get older," Golberg said.

The PACE Center for Girls serves at-risk middle and high school students, as old as 18, who are having trouble at school or at home. They may have been abused, neglected, used drugs, committed a crime or engaged in some other activity that lands them in the at-risk category.

PACE's goal is to keep the girls in school and to prevent juvenile delinquency, teen pregnancy, welfare dependency and drug and alcohol addiction.

PACE, part of Florida's juvenile justice system, has 17 centers across the state. PACE stands for Practical Academic Cultural Education.

The girls typically are referred to PACE by school guidance counselors or juvenile probation officers, though sometimes the referrals come from someone else. The girls continue their schooling at PACE, and the center administers the Florida Comprehensive Assessment Test.

"We have certified teachers and licensed therapists who work with them," Taylor-Fagan said.

Taylor-Fagan was happy to provide the space and time when she learned of First Bank's proposal to give the girls a financial tutorial.

Golberg and Karin Gayda, a First Bank customer service manager, teach the students using an FDIC education program called Money Smart for Young Adults.

Despite the special circumstances, the classroom dynamics are similar to what you'd find in any school. A few girls are ready to volunteer answers to nearly every question Golberg and Gayda pose, while others are reluctant to leap into the discussion without a nudge from Renee Shelton, PACE's transition services coordinator, who helps keep the discussions going.

This week's topic was checking accounts, which allowed Golberg and Gayda to cover all sorts of ground, such as ATM fees and the difference between debit and credit cards.

They talked about the importance of balancing a checkbook each month and the advantages of direct deposit and automatic bill payment.

They also brought up the dreaded "overdraft" word.

"You spend more money than you have in the bank," Golberg told the girls.

Golberg said she knows checking accounts aren't something all the girls are dealing with right now.

Her hope is that when that time comes they will remember what they learned in these sessions and put it to good use.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT