A personal connection with New Hope Christian Academy (NHCA) has landed a partnership with Banc3 Holdings, Inc. (Bank3) to offer a financial literacy program to students and families at the school.
Karen Stewart, executive vice president and chief compliance officer for Bank3 attended Sky View Academy from Kindergarten through 12th grade, which is the same building that currently occupies faculty, staff, and students of NHCA. "For me it was personal, because I grew up in that neighborhood, I walked to school every day,” says Stewart. “My mom worked at the school, so for me it was just a personal connection. When I came back out to the school [New Hope Christian Academy] and saw the kids and everything that you guys are doing with the garden, it's just amazing and beautiful. New Hope is a school that for us alumni of Sky View, we try to support every year, so we have a big fundraiser every year to see which class can raise the most money for New Hope."
Bank3 is a commercial bank headquartered in Memphis, with five locations in West Tennessee, and one in DeSoto County, MS. Beginning in 2024, the partnership started with a class for first, second, and third graders focused on saving money; why it's good to save money; and where to place your money. Having met with younger students, the Bank3 team along with faculty at NHCA, decided to take a different approach with fourth through sixth graders.
Courtesy of New Hope Christian Academy
Matt Shirley of Bank3 assisting fourth grader at New Hope Christian Academy.
With today's digital age, some students have never had the opportunity to learn how to exchange money. The partnership aims to provide them with more hands-on experience dealing with money. This morphed into Bank3 brainstorming to have a few financial literacy classes throughout the year using a traditional approach.
In one recent class, students learned how to exchange money and how to save using piggy banks. Students learned how to operate a mock teller drawer and purchased items from a makeshift shopping store to learn how to budget wisely. The team at Bank3 used this class as a learning tool to share with students how to be mindful of the money they are saving and spending because not everyone makes the same amount on their jobs.
Courtesy of New Hope Christian Academy
Hope Bearden, chief administrative officer of Bank3, works with fourth grader at New Hope Christian Academy, during hands-on financial literacy exercise using a mock teller drawer.
"I've even found with kids in general is that they don't have the exposure they really need to know how to handle money and finances,” says Hope Bearden, chief administrative officer for Bank3. “I think the younger we can start with the kids, the better off they're going to be down the road and being able to handle any kind of finances."
The American Bankers Association offers age-appropriate curriculum materials for their financial literacy program to banks. Banks then provide those resources to help students understand how credit works and learn how to save money.
In addition to student learning, Bank3 will offer resources to families at NHCA, such as a homebuyer education class. During these classes, families will receive guidance from realtors, mortgage advisors, and credit counselors — some of whom are NHCA parents — on how to better position themselves to purchase a home.
Bank3 offers a variety of programs to assist individuals in buying a home. These programs include partnerships with United Housing Inc., THDA-Tennessee Housing Development Authority, and other organizations to provide multiple ways to achieve homeownership.
To learn more about Bank3 and its resources, visit bank3.com.