1st Source Bank promotes financial wellness through education

1st Source Bank promotes financial wellness through education
By: Beth Ireland Last Updated: January 16, 2020

Throughout life, we are all faced with stressors and bumps in the road, especially when it comes to our finances. The knowledgeable staff at 1st Source Bank strives to educate people in financial wellness so some of those bumps are a lot less stressful. 

“Life is complicated. We all deal with different stresses on a daily basis. The more we can be financially aware and financially well, the more we can put those aspects of life in a place where they’re not as stressful and don’t create as many surprises,” said Matt Vessely, Regional President at 1st Source Bank. 

Whether visiting local businesses, schools, or hosting financial wellness seminars at local libraries, the team at 1st Source Bank knows that educating people is ultimately beneficial for the community as a whole.

“These programs help our community to become more financially stable,” Vessely said. “The healthier the community is, from a financial perspective, the better the community is in general. We all win when that happens.”

“Going out and doing these financial wellness presentations connects us with our community. They make for a nice connection between the bank and the community,” said Lori Moulton, Banking Center Manager and Assistant Vice President at 1st Source Bank.

In Business

The main component of 1st Source Bank’s educational initiatives is partnering with local businesses that bank with them to provide education to employees. They cover a range of topics that mainly deal with creating budgets, saving, and how to best go about purchasing a home or car. 

Employers look to 1st Source Bank to educate their employees because they know how important financial wellness is. 

“Employers depend on their employees to deliver. Their employee base is what makes them who they are. If those employees are better equipped financially, they’re more stable and prepared for what life may throw at them on the financial side. They’ll then be more fully engaged as employees,” Vessely said.  

In Education

It’s never too early to learn about financial wellness, and 1st Source Bank works to equip the next generation with the tools they need to make the right financial choices in the future. Many schools utilize the knowledgeable staff of 1st Source Bank to teach students important lessons on finances. Whether it is sending in a volunteer to present in a school through the Junior Achievement program or a staff member providing a 1st Source Bank presentation, the focus remains on laying a solid financial foundation.

“Some of our colleagues volunteer with Junior Achievement in the lower grades, like K - 3, where they’re teaching really basic, community-focused economic concepts, explaining how a community functions and how money moves throughout a community,” Vessely said. “At the high school level, our banking center managers are instructing on personal finance, balancing a checkbook, saving, and budgeting.”

1st Source Bank recognizes the importance of being an educational resource to help prepare students for adulthood.

“It’s so important for our young people to understand how to manage their finances,” Moulton said. “We hear so often from young adults and parents alike that many do not have a good basic understanding of how to manage their money. We at 1st Source Bank are here to help with that and can provide students with much-needed information that will be used in their adult lives on a daily basis.”

In Life

1st Source Bank is always ready and willing to help any individual learn more and achieve their financial goals. Their website offers plenty of resources and information for all (https://www.1stsource.com/). Additionally, the 1st Source Bank online banking program offers clients tools to help with budgeting and other financial needs.

“Our online banking and mobile app allow you to budget and pull in information from all of your accounts, even if they’re other places, so you can budget from one place. You can log in to our online banking system and use that as a great tool,” Vessely said. 

And, of course, anyone can stop in at a 1st Source Bank branch and sit down with a banker for advice. 

“We’re here to help clients with whatever it is they’re challenged with. They may come to us with very simple things, like how to balance a checkbook, or more sophisticated things like retirement planning or purchasing a home or car,” Vessely said. “Our colleagues are equipped to deliver solutions and educate the client about what their best options are. We always take the approach of listening to them (the client) and serving them with their long-term interest in mind.”

Some tips

It all starts with a budget. 

“It’s important to have a good command of your budget and know where the dollars are coming and going. Make sure you’re living within your means,” Vessely said. “Take time to save and prepare for things down the road.” 

Don’t be afraid to ask those important questions.

“People are often hesitant to talk about their finances. Everybody can use help. We have friendly conversations with people, and they begin to open up and ask those questions. It allows us the opportunity to offer them guidance and services that will help them attain their financial goals,” Moulton said.

No matter what your financial goals are, you can rely on 1st Source Bank to help educate you and set you up for success when you hit any of life’s bumps. 

“As a service-based business, we are always educating, whether that’s one-on-one in our banking centers or with clients who are seeking our advice and help,” Vessely said. “It’s all done in the same spirit of helping to inform others in a way that will help them achieve security, build wealth, and realize their dreams.”

For more information on 1st Source Bank visit their website: https://www.1stsource.com/