Brittany Planos, Union Bank & Trust’s financial literacy program senior manager
How much do you really know about managing your money? Union Bank & Trust’s Financial Literacy Program partners with nonprofits and local groups to teach community members the real-world smarts to set a personal budget, balance a checkbook, reduce debt, build a credit score, save for the future and more.
The program launched in 2020 after a series of conversations between the bank and local nonprofits revealed a need for practical, accessible education.
“The topic of financial literacy came up over and over again,” said Brittany Planos, senior manager of the Financial Literacy Program. “We decided that by delivering our knowledge into the community, we could help these nonprofits support their clients in striving to achieve financial stability.”
To that end, Planos and her team conduct eight to 10 financial literacy classes and workshops a month on average for more than 60 partnering organizations in Lincoln and Omaha.
“Going to the bank can be intimidating, and even scary, for some people,” she said. “We host events at schools and nonprofit locations in spaces their clients are already familiar with to reduce barriers to access. Our programs usually last for about an hour and include a presentation, a hands-on activity and sometimes a game.”
No previous financial knowledge is required and there’s no cost to attend. Planos tailors the content of each class to meet participants where they are.
“We’re sensitive to the fact that many of our attendees may be struggling financially or have had negative experiences in the past and are feeling some level of shame because of it,” she said. “We let them know that they’re not alone, and talking about money doesn’t have to be a taboo subject. I think people come away from our workshops feeling much more empowered.”
Participants in the sessions range from elementary school students to senior citizens who may be at risk of fraud and scams.
Nebraska recently passed Legislative Bill 452, known as the Financial Literacy Act, requiring all students graduating from high school to take a semester of personal finance education. “We’re hoping that will lead to positive outcomes,” Planos said.
Union Bank & Trust also incentivizes qualifying high school seniors in the Lincoln Public School system to establish good financial habits by applying for its UBT Scholars Academy program. After successfully completing a half-day workshop focusing on money-management strategies, students receive a $1,000 scholarship award.
“It’s essentially a financial bootcamp to help get them ready for college,” Planos said. “We talk about how to read financial aid packages, understand student loans, apply for scholarships and budget for their first year of school.”
Looking forward, Planos would like to continue to grow the Financial Literacy Program to reach new groups and organizations that can benefit from financial literacy education.
“We want to make sure we’re spreading resources out the best we can, and filling gaps without duplicating what other providers are already offering,” she said. “We’ve been very active in the Lincoln community and just launched our Omaha program in the past year. We’ll keep working toward creating awareness, letting people know we’re here as a resource and ready to help.”
To learn more about Union Bank & Trust’s Financial Literacy Program, visit ubt.com/finlit.
