Who Wants to Be a Millionaire? Exploring careers in the financial world Presented by Alisha Arnold, Amy Matisek & Rick Weber

Introduction How to Be a Smart Saver & Spender Why You Should Consider a Career in the Financial Industry What Skills are Important to Your Success Important Money Management Tips How Financial Institutions Help Entrepreneurs, Consumers and our Community

Setting the Foundation Icebreaker Activity How “money smart” are you? Working in the financial world can help you understand personal finance better. Who can be successful?

What’s in It for You? Why Work in the Financial Industry Many position options More than “just being a banker” Competitive pay Educational benefits

Jobs in a Financial Institution Positions that directly make a difference with members (customers) Member Relationship Reps Assistant Managers Managers

Check Your Skills for Success Adaptability Initiative Accountability Positive Attitude Teamwork Innovation Personality vs Technical

What if Member Service Isn’t for Me? Other Careers at a Financial Institution include … Loan Processors & Officers Human Resources Asset Recovery Risk Management Payment Services Call Center Reps Marketing Corporate Communications

Marketing & Community Relations Is Marketing for you? Activity The 9 Dots Puzzle What makes an effective Marketer? Organized Creative/Innovative Good Communicator

Credit Unions & the Community “People Helping People” Aligns with our Core Values Caring Innovative Honest Fair Dedicated Work for a Company with Values like your Own

It Takes More than an Interview Criminal Background Check Pre-employment Drug Testing Consumer Credit History Check Working for a financial institution makes it easy to become money savvy.

Managing Your Money Build a budget Organize Track Analyze React Review Set savings goals Short-term, Mid-term, Long-term Build a cash reserve

What’s Credit? Credit = Financial Trustworthiness Lenders look at your credit record Excellent credit rating gets you the best rate & terms Start building a good credit record Apply for and use a credit card Use student loans for tuition and books Make at least the minimum payment due Pay all debts on time

What’s a Credit Score? A credit score is a number that represents the amount of credit risk associated with an individual. Three credit reporting agencies FICO Scores Between 300 and 850 Higher scores indicate low risk Lower scores indicate high risk

How a Credit Score is Calculated This information is only in general terms as the actual formula is quite complex.

What Lenders Look For Character – Willingness to pay Capacity – Ability to repay Capital – Net worth Collateral – Asset used to secure loan Conditions – Overall economy

Credit vs Debit Cards Debit Cards Draw money directly from your checking account A hold is placed for amount of purchase Merchant sends transaction to financial institution & funds are transferred Credit Cards Allow you to borrow money Charge you interest Typical grace period of 30 days

Wrap Up How to Be a Smart Saver & Spender Why You Should Consider a Career in the Financial Industry What Skills are Important to Your Success Important Money Management Tips How Financial Institutions Help Entrepreneurs, Consumers and our Community QUESTIONS?