ABA has released new modules to supplement its Teach Children to Save curriculum that are designed to inspire young students to pursue careers in banking. The three “Bankers and You” teaching modules target different grade levels with age-appropriate lessons that highlight how banks help the community, what it takes to be a banker and potential careers in the banking industry.
“America’s banks employ more than 2 million people with various backgrounds, skill sets and job functions,” said Corey Carlisle, the Foundation’s executive director. “These modules will introduce the next generation to the many ways banks support their communities and the breadth of career paths they offer.”
These new resources supplement ABA’s Teach Children to Save program, a national campaign that encourages banker volunteers to present savings lessons to schools or youth groups in their local communities. Now in its 20th year, the program has helped more than 245,000 bankers bring financial literacy lessons to more than 8.2 million students. Teach Children to Save Day will be observed on April 28, but bankers can hold their lessons throughout the year.
A free informational webinar on the new “Bankers and You” modules will be held on April 7 at 1 p.m. CDT. Bankers can also learn more about Teach Children to Save, ask questions and share best practices by participating in a live Twitter chat today at 1 p.m. CDT using the hashtag #TeachChildrentoSave. Register for the webinar. Learn more about Teach Children to Save.
From robberies, to protests, to active shooters, banks must be aware of the various physical threats they face. ABA has resources that will help you identify the physical threats the ABA currently monitors and the various resources available to you in order to help you protect your customers and your employees. Click here for information.
In recognition of National Cybersecurity Awareness Month in October, ABA has developed a number of resources to help you promote consumer awareness about cybercrime. The campaign materials focus on how consumers can protect themselves, their small businesses, their identities, and their mobile devices online.
The resources — available at aba.com/PRtools — include a social media toolkit to help you communicate with your customers about cybersecurity, customizable tip sheets and news releases.
Also in October, ABA’s Get Smart About Credit Day will include a “protecting your identity” component that will coincide with ABA’s National Cybersecurity Awareness Month efforts. Download the cybersecurity resources.
The federal banking agencies issued guidance in June on implementing the Financial Accounting Standards Board’s new loan loss accounting standard, which uses a current expected credit loss, or CECL, model. Under CECL, banks will be required to record, at the time of origination, credit losses expected throughout the life of the asset portfolio on loans and held-to-maturity securities – in contrast to today’s “incurred loss” accounting. The regulatory guidance provides information on CECL’s key elements, noting areas where it differs from current U.S. generally accepted accounting principles and emphasizing that they expect CECL to be “scalable to institutions of all sizes.” While the agencies said they did not expect that “smaller and less complex” banks will need to adopt “costly and complex models” to meet the new requirement, they noted that “institutions would need to consider how to adjust historical loss experience not only for current conditions as is required under the existing incurred loss methodology, but also for reasonable and supportable forecasts” of the future. The agencies also provided guidance on how they will apply the new standard to different classes of assets at the effective dates of 2020 and 2021 and outlined steps to take to remain in compliance as CECL is implemented. Watch the American Bankers Association’s introductory video on CECL.
ABA has developed an anniversary and special events toolkit to assist you when planning and executing special events for your bank.
The toolkit — based on ABA’s recent 140th anniversary celebration campaign — includes checklists, event messaging, marketing collateral and social media campaigns, to help you coordinate your bank’s own celebrations for organizational milestones.
Click here to download ABA’s Anniversary and Special Events Toolkit.
The American Bankers Association recently launched Banking Fundamentals, a new series of three online interactive courses that allow the next generation of bankers to network and collaborate with other students and faculty in a virtual setting. This new offering replaces ABA’s acclaimed Principles of Banking curriculum and is designed both for early-career individuals beginning their banking careers and experienced professionals transitioning into banking from another industry.
“In today’s banking industry, it’s critical to develop your next generation by providing effective onboarding and ongoing professional development that sets them on the-fast track for success,” said ABA EVP Jim Edrington. “Banking Fundamentals is tailored to the new generation of bank employees by encouraging learning in concert with social interaction in a mobile, online setting that can lead to heightened engagement and better results.”
Combining engaging lessons, case studies, video and an interactive multimedia “textbook,” Banking Fundamentals provides students with an overview of the banking industry, bank lines of business and building customer service relationships. Learn more.
The ABA Foundation launched its Safe Banking for Seniors program to help banks educate seniors and their caregivers on the risks of financial fraud. Bankers can take advantage of the program’s various resources, which include event materials, lesson plans, media outreach tools and best practices designed to help bankers bolster their outreach to seniors and financial caregivers in their communities throughout the year. All materials are provided free of charge.
“Our goal with this campaign is to provide bankers with turnkey educational materials, so they can arm their customers with the tools they need to fight fraud,” said Corey Carlisle, executive director of the ABA Foundation. “Since announcing this program, we’ve received tremendous response from our members who are eager to team up with local senior groups and other organizations to educate the greatest number of consumers possible.”
The program includes four lesson modules on identifying and avoiding scams, identity theft prevention, choosing a financial caregiver and acting as a responsible financial caregiver. The modules can be taught as stand-alone sessions, or as part of a comprehensive suite of lessons.
The Safe Banking for Seniors campaign reflects ABA’s commitment to leading the charge against the financial exploitation of older Americans. The Foundation is joined by the Iowa Bankers Association and 29 other state bankers associations that have pledged to promote these resources to bankers in their states in an effort to combat the estimated $2.9 billion in losses suffered by seniors each year as a result of fraud. Learn more and access the materials.