Personal Finance Lesson: Choosing a Bank
Lesson Background
The last Personal Finance lesson I posted covered the basics of checking and savings accounts. If you missed that one, you can find it here.
In this follow-up lesson, the class discusses some basic pointers on how to choose a bank. After the brief class discussion, the students take part in a group activity in which they combine their knowledge of different bank accounts with some online research to produce a sales presentation for a bank of their choice.
In creating and delivering the presentation, the students assume they are actual employees of the bank giving a sales presentation for their checking and savings accounts. I do not specify an exact layout for the students to follow, since I want them to be able to organize their thoughts on their own. However, I do suggest they cover these topics:
- Account Fees
- Interest Rates/Required Balances
Sample Slide from Student Presentation of First Financial Bank
- Bank Locations/Hours
- Account Features (ATM locations, online banking, etc.)
- Bank History
- Anything else you feel will help you “sell” your bank to the class
After the students present, the class votes on which bank they would choose.
By the time the students research their bank and listen to the other presentations, they should be able to compare/contrast the different types of accounts offered by a number of real banks, as well as their features, benefits, and costs.
Lesson Resources
PowerPoint Discussion: Choosing a Bank
Instructions: Bank Salesperson Activity
Scoresheet: Bank Salesperson Activity
Businessweek Article: PNC Lures Generation Y with Virtual Wallet
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