OVB BANKit looks to make impact in area schools

The 2019-2020 academic year was officially underway last month as area students headed back to the classroom. With school in session, Ohio Valley Bank also returned to local classrooms with their BANKit program.

2019 PPHS BANKit

2018-2019 OVB BANKit winners pose with OVB Financial Literacy Leader Hope Roush after earning their cash prizes.

The OVB BANKit program, which was created in 2010, brings real-life banking lessons to the classroom in a fun, interactive format. OVB Financial Literacy Leader Hope Roush conducts each lesson, which typically takes place on a monthly basis at each participating school. The program works as a game in which students are given $100 in “buzz bucks,” the OVB BANKit currency. Students have the option to invest their buzz bucks as they wish among different accounts, including CDs, money market, basic checking and savings. They also have the option to purchase and sell shares of stock in the game’s mock company, Pseudosoft.

OVB partners with several area high schools to present the program. Local teachers graciously open their classrooms for BANKit, and often make the program part of a class participation grade. Michelle Alderman, River Valley High School personal finance teacher, said that she enjoyed being able to utilize BANKit to coincide with her lessons.

“The BANKit program is beneficial to the curriculum I teach because it allows hands-on practice of the applications they learn in the classroom. For example, instead of just hearing about interest, they are actually able to see how interest works within their savings tools within the BANKit game and watch how their money can grow,” Alderman said.

Roush described the program as being a great tool that brings financial literacy to area youth.

“OVB BANKit is a very hands-on experience. Instead of just talking to students about the functions of a bank and account types, the program lets them experience what it’s like to have various accounts. It forces them to keep track of their funds and teaches them how to properly budget. Through this interactive style, students learn more through actual experience as opposed to reading a textbook,” she said. “In my classroom experiences with the program, it’s been fun to see how competitive the students get. They all want to have the most money at the end of the year. Since we have prizes at stake, they are extra motivated, and it’s nice to know that they are learning valuable skills along the way too.”

While students play the BANKit game with buzz bucks, actual cash prizes are at stake. The student at each participating school who ends the year/semester with the highest portfolio total wins a cash prize of $50. In addition, the student who wins the final review game, which covers all of the lessons taught throughout the course of the program, wins $20. In addition, all final portfolio totals per class are averaged, with the winning class enjoying a group prize, such as a pizza party or cupcakes.

Johnathan Mayne, Point Pleasant High School civics teacher, said the program helps students meet the required personal finance unit of civics.

“Personal finance is a required part of the civics curriculum and (BANKit) has been a great program over the many years to cover the required material and let the students have fun doing it,” he added. “Most high school students have no idea about how accounts, loans, credit, etc. work. I believe it is greatly beneficial for them to know this before leaving high school and embarking on their journey to adulthood. And that is also what I hope they get out of the program.”

Joshua Riffe, social studies teacher at Gallia Academy High School, agreed that OVB BANKit helps prepare students for life after high school.

“Students get relevant financial information that will benefit them in their adult lives,” Riffe said. “This program gives financial information everyone needs.”

During each OVB BANKit visit, students draw a Real Life Card, which may force them to pay an unforeseen bill or provide them with unexpected cash. Students also have a chance to manage their banking and make deposits/withdrawals in their accounts. Mayne said the students’ reaction to Real Life Cards was his favorite part of the game as well as the banking simulation. While Alderman described the banking portion as a great tie-in to the lessons she teaches.

“My favorite aspect of the program is that students get to sharpen their financial skills throughout the semester through playing the BANKit game. I typically teach a unit on checking accounts during the first four weeks of school so it is nice that students get to keep using these skills learned throughout the semester,” Alderman said. “From this program I hope students become better prepared for their financial future. I hope they gain confidence to feel comfortable managing their own finances and make wise financial decisions.”

In addition to the banking activity, each BANKit lesson covers a financial topic. Lessons set for this academic year include:

  1. Basic differences in bank account types
  2. Filling out bank paperwork, such as deposits and withdrawals; check writing; updating check register
  3. Reading a bank statement
  4. Credit/Cost of Credit/ Credit Reports/Credit Scores
  5. Budgeting
  6. Identity Theft
  7. Credit vs. Debit
  8. Interest

For more information on the OVB BANKit program and other financial education programs, visit http://www.ovbc.com and/or contact Roush at hdroush@ovbc.com.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: