Hancock Bank puts bankers in Pine Belt classrooms to teach financial literacy

Hancock Bank puts bankers in Pine Belt classrooms to teach financial literacy
(Source: WDAM Staff)
(Source: WDAM Staff)

PURVIS, MS (WDAM) - A lot of us learned the Pythagorean theorem or the very long quadratic equation in school, but life skills like saving money and staying out of debt would be constructive as well. The Hancock Banks see the importance in financial literacy, so they put bankers in classrooms all across Mississippi to get the kids ahead of the game.

Third through fifth graders at Purvis Upper Elementary school learned some grown up lessons in school Tuesday.

"A home mortgage is a home loan, and you have to save money to buy a home," said Tyler Michael, third grader at Purvis Upper Elementary School.

The effort for the Hancock Bank's "Hands-in initiative" is to teach kids the basics of banking and budgeting.

"We talked about saving money and how you can do that and what mortgage is," said Maddie Hylender,   third grader at Purvis Upper Elementary School.

"We're excited, and it opened that door for them to be ready to learn about mortgages and interest...you know things that were not in their vocabulary before," said Jenyck Litoff,  a 2nd and 3rd grade teacher. 

The Hancock Bank is allowing employees paid time off to invest in the community, ultimately our future. Gipson said it's the best time to talk about money management.

"I love to come to the classes. The kids are at that age when they absorb everything," said Missy Gipson,  Vice President Branch Manager.    

The financial security lesson introduced new terms to the students like, debt.

"Debt is when you owe somebody something, said Hylender.  

"We're getting some of the terminology out there in regards to financing and banking to help improve their financial literacy," Gipson said. "if you can set that pattern and be disciplined, you're way ahead of the game."

It's an investment the bank is making all across the gulf south.

"It's great that the bank gives us time out to invest in local communities," Gipson said.