Norwich, NY (April 3, 2014) –NBT Bank believes that it is never too early to start learning about Financial Literacy and the ability to manage one’s own finances. April is Financial Literacy Month (www.financialliteracymonth.com), and NBT Bank invites individuals of any age to take stock of their financial footing by using the bank’s Keys to Financial Success. The tips can be found at nbtbank.com and include steps on managing a budget, paying down debt while saving for emergencies and establishing achievable goals to help reach financial success.
Learning about money management is important for everyone. On a test of five basic financial literacy questions, the national average was 2.88 correct answers, according to the 2013 Financial Industry Regulatory Authority’s (FINRA) State-by-State Financial Capability Survey. Further, FINRA has found that millennials—defined as the generation born between 1982 and 2004—display low levels of financial literacy, engage in problematic financial behaviors and express concerns about their debt.
“In today’s economic climate it is more important than ever that people understand how to make informed and thoughtful decisions about finances for their financial future. At NBT Bank, we have taken a very active approach to provide our customers and members of our community with valuable financial literacy information they can use to develop strong financial habits,” said Martin Dietrich, President and Chief Executive Officer of NBT Bank.
NBT Bank’s year-round Strive® program provides in-classroom and online financial education to help today’s youth and young adults grow their money skills. Strive helps them establish a positive relationship with money and navigate personal finances as their financial needs mature.
Since 2012, NBT has conducted more than 200 Strive presentations across its footprint. These presentations typically target school-age children and provide a fun, hands-on approach to teaching money management skills that help students develop strong financial habits and pay more attention to how money is wisely saved and spent. To learn more, visit www.nbtbank.com/strive.
NBT Bank offers personal banking, asset management and business services through a network of over 155 banking locations in five states, including upstate New York, northeastern Pennsylvania, northwestern Vermont, western Massachusetts and southern New Hampshire. NBT Bank and its parent company, NBT Bancorp Inc., are headquartered in Norwich, N.Y. NBT Bancorp Inc. had assets of $7.7 billion as of December 31, 2013, and is traded on the NASDAQ Global Select Market under the symbol NBTB. More information about NBT Bank and NBT Bancorp can be found on the Internet at http://www.nbtbank.com and http://www.nbtbancorp.com.