California Check Cashing Stores offers alternative banking services to the unbanked and underbanked populations of Northern California by providing check cashing, payroll advance, money orders, bill payment and other services.
California Check Cashing course leaders have presented the program to high school economics and American government classes in San Jose, Sacramento and East Bay. The one-hour presentation covers topics such as the power of saving, the wise use of credit cards, prepaid debit cards, everyday financial skills and how to set personal financial goals and create a budget. At the end of the presentation, students receive additional materials in either English or Spanish.
"This financial literacy program provides students with essential skills they will need to take control of their money and set out to achieve personal financial goals," said California Check Cashing CEO Rick Lake. "Through these presentations to students, we are finding out just how much of a need there is for this type of information."
The program also includes information on other financial tools available to students, such as prepaid debit cards, which are more convenient than carrying cash and have the security benefits of a card. Customers simply load funds onto the cards at participating locations and can use them to make purchases, pay bills, secure reservations and shop online without the need for a bank account or credit history.
"More and more young people are discovering the benefits of prepaid debit as a payment option," said NetSpend Chief Executive Officer Daniel R. Henry. "These cards are an important tool in anyone's wallet because the cards empower people to take control of their spending and budgets, helping bring them into the financial mainstream where they can enjoy the convenience, the security, the freedom and the features typically associated only with bank accounts."
Beyond learning about financial tools, the university interns who deliver the financial literacy course have found that the students, who are primarily high school seniors, also have a lot of questions about paying for college, how to invest money and plan for retirement.
"I didn't realize how much high school seniors think about personal finance until I started giving these presentations," said Allyson Holmes, a child psychology major at Pacific Graduate School of Psychology and a course leader for the program. "The program has made me realize how much need there is for this type of information in schools."
Holmes said that when she was in high school, this type of information was not available, so she has learned a lot about how to prepare for her own future. "This program has been beneficial to me as well," she said. "Teachers also see the value of the information in helping students map their financial futures. We are often invited back to deliver the presentation to other classes." -- NetSpend Corporation
