The facilitator should begin the activity by asking the following questions:
Why do most people find it necessary to have a bank account?
How many of you have your own bank account - checking, savings or both?
How many of you know the policies of your traditional or online bank? For example, fees, ATM policy, balance requirements.
Facilitator should distribute a copy of "Picking a Bank" to each participant.
Facilitator should instruct each participant to obtain information about one traditional or online bank or credit union in response to the questions. Information can be obtained in person or online. Instruct participants to bring their completed data sheets on Day 2 of this activity.
It is important to note that banks, credit unions and online banks are regulated by state and federal rules and insure deposits.
Facilitator Tip: Be sure that all participants don't get information on the same financial institution; assign a variety of banks.
Day 2
Discuss the variety of data that participants have found in response to the questions. Note that the best bank choice for one person may not be the best for another, depending on personal situations.
The facilitator should conclude this activity with the following questions:
Do you agree with Michelle Singletary’s quote: "You have to look at your banking habits and choose an institution that meets the things that are important to you just like when you go out on a date."?
Why is it important to shop around for a financial institution?
