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The Illinois Bankers Association (IBA) recently presented the Illinois Bank Financial Literacy award to Farmers & Mechanics Bank, Galesburg. The award was created and judged by the IBA’s Financial Literacy Committee and is presented to an Illinois bank that provides critical training and key resources in a progressive and thorough manner to its community. The award was presented by IBA President and CEO Linda Koch during The ONE Conference in East Peoria on March 3, and F & M Bank AVP Marketing and Public Relations Rhonda Houzenga accepted the award on behalf of the bank.
F & M Bank takes pride in investing in its local community. They are involved in a number of financial literacy efforts, reaching more than 1,000 individuals just last year. They have partnered with the IBA’s EverFi program to provide free, online financial literacy training to students at Galesburg High School. Additionally, several bank employees were involved with the University of Illinois Extension Office – Real World Simulation. The employees opened simulated checking and savings accounts for each student and counseled them on money matters. More than 470 eighth graders from four junior high schools participated in the program last year.
Other initiatives included a mortgage seminar for homebuyers, Teach Children to Save Day, an Ask the Experts Luncheon and the Mini Millionaires Club that offers a savings account and activities for children age 12 and under.
“We are honored to have received this award from the Illinois Bankers Association. We realize the importance of financial literacy and strive to provide educational programs and opportunities within the communities we serve”, says Doug Sanders, President and CEO of F&M Bank.
The Illinois Bankers Association is a full-service trade association dedicated to creating a positive business climate that benefits the entire banking industry and the communities they serve. Founded in 1891, the IBA brings together state and national banks and savings banks of all sizes in Illinois.