We believe access to high-quality financial education is a key indicator of economic well-being. With this belief, we are making an intentional effort and investment to support our associates, customers and communities by offering a comprehensive financial wellness tool through the new UMB Financial Education Center.
Statistics show 78% of adults wish they had more information readily available when making financial decisions. 65% of Americans believe schools should provide financial education but only 21 states currently require high school students to complete a personal finance course. Only 3.9% of students from low-income schools were required to take a personal finance class, compared to nearly 17% nationwide.
Additionally, those provided with comprehensive financial education are less likely to be debt-constrained and more likely to save for retirement. Through the UMB Financial Education Center, we are able to offer a sizeable library of learning topics around important personal financial education concepts including budgeting, investing, homeownership, retirement planning and more.
The interactive financial education platform is designed to provide consumers with the tools and personalized knowledge necessary to make informed financial decisions. Users are able to answer a few questions so that they better understand their financial goals and habits and are guided to specific “playlists” based on their answers. Each topic area offers four- to 10-minute modules designed to enable users to apply what they have learned to their personal financial goals. In addition to modules in the personalized playlist, customers can also explore other playlists for more financial education topics. We are very excited to offer this free tool to our associates, customers and community groups as everyone works to achieve their financial goals. Learn more about our Financial Education Center in recent articles featured in Fort Worth Business Press‡, Fintech Zoom‡ and CardRates.
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