Southern Nevada Students, Parents and Teachers Get An Exclusive Behind-The-Scenes Tour of Lexicon Bank in ‘Behind the Scenes in Banking’, A Free JASN Online Program
LAS VEGAS, September 14, 2020— Lexicon Bank partners with Junior Achievement of Southern Nevada to advance financial literacy in Las Vegas through new virtual programming on the basics of banking. The free resource for parents and teachers called Behind the Scenes in Banking was released online September 9, 2020 at jasnv.org within their Virtual Parent & Educator Resources.
Since its foundation in 1996, Junior Achievement of Southern Nevada (“JASN”) has impacted more than 450,000 students with practical hands-on financial literacy curriculum. These programs have been delivered by more than 285 area businesses and over 6,800 business role models. A core part of the financial literacy curriculum is developing and teaching financial acumen as well as workforce readiness. Lexicon Bank, Las Vegas’ first community-chartered bank in more than a decade, is proud to be a part of the local charge.
“A basic checking and savings account is a springboard to using other financial products, and it can really save people money by avoiding high fee alternative bank services” says Lexicon Bank’s Executive Vice President and Chief Financial Officer, Tom Michelena. “Building financial literacy is an important value at our Bank. We continually look for ways to build into the community and support our current and future business clients, specifically small businesses.”
Under the guidance and direction of Michelena, K-12 students will have a chance to experience a personal financial tour in this free resource. They will be exposed to basic principles of banking and a variety of banking jobs which they can one day pursue.
With classrooms operating primarily online across Nevada, educational resources and non-profits are adjusting their approach to reach students in need with additional tools to succeed. This virtual platform is helping JASN connect with students across the Valley, and now the parents of students, who may have missed exposure to the ease and benefits of banking, too.
Over 14 million adults in the U.S. do not bank and a staggering number of those live in Nevada, a state fueled by cash tips in the service industry and possessing the highest proportion of illegal immigrants per capita. Thirty-one percent of Nevada households are unbanked or underbanked, according to a 2017 survey by the Federal Deposit Insurance Corp (FDIC). Those are people who either don’t have a bank account, or have an account, but still must use financial services outside the banking system. Nevada claims a top spot among states with households unbanked or underbanked in the U.S., falling behind Mississippi (38.3%), Georgia (34.7%), Texas (33.7%), and New Mexico (33.6%) respectively.
By using alternative services outside of a bank, families wind up paying a lot more for basic financial transactions, making it even more difficult to build savings. A lack of financial literacy may be attributed to the number of unbanked people who could reduce their expenses if they established a relationship with a bank. JASN seeks to change the cyclical course by teaching financial acumen at a young age.
Lexicon Bank’s commitment to advancing the financial literacy of the Las Vegas community is not only through volunteerism, but through leadership too. Stacy Watkins, Lexicon Bank President, served on the JASN Board for twelve years and now serves as the Co-Chair of the Family Gifts Division spearheading the organization’s future plans of bringing BizTown to Las Vegas, and a permanent space for Finance Park.
In its seventh year, the Capital One/Junior Achievement Finance Park provides essential financial education skills to students, specifically Grades 7-12, through a small-scale mock city. Through interactive simulations, Clark County School District students, assisted by their teachers and more than 400 trained volunteers, experience the challenges of making financial decisions while staying within a specified budget.
BizTown, operating in 36 cities across the United States, is close to finally coming to Las Vegas. JA BizTown combines in-class learning with a day-long visit to a simulated town. This popular program allows elementary school students to operate banks, manage restaurants, write checks, and vote for a mayor. The program targeted to Grades 4-6 helps students connect the dots between what they learn in school and the real world.
“The backbone of all Junior Achievement programs is the investment of our business community through volunteering to teach our curriculum in the classroom. Without the commitment of partners like Lexicon Bank we would not be able to continue reaching 20,000 plus students in Clark County each year. Now more than ever our next generation needs to know that their futures are important to us. We invite other businesses in Southern Nevada to get involved by becoming a virtual volunteer or making a financial gift to help us reach even more youth,” says Michelle Jackson, President & CEO for Junior Achievement of Southern Nevada.
ABOUT LEXICON BANK
Founded in 2019, Lexicon Bank is Nevada’s community-focused banking partner. Lexicon Bank provides private, personal, comprehensive banking services to business and personal banking customers, placing an emphasis on creating and nurturing a long-term relationship. By providing personalized services to all customers, Lexicon Bank can help to foster Southern Nevada’s economy and community – ultimately helping to grow the Las Vegas local business economy. The bank is redefining banking as it should be in the Las Vegas Valley and Southern Nevada by creating a private bank for small businesses no matter the size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The bank is open from 9 a.m. to 5 p.m. Monday through Friday, 10 a.m. to 2 p.m. on Saturdays, and can be reached by phone at (702) 780-7700 or online at lexiconbank.com. Lexicon Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Follow us on social media at @lexiconbank on Twitter, Instagram, LinkedIn, and on Facebook at facebook.com/LexiconBank.
ABOUT JUNIOR ACHIEVEMENT OF SOUTHERN NEVADA
Junior Achievement of Southern Nevada, Inc. was founded locally in 1996. The current local programs span grades K-12, with age-appropriate curricula. At the elementary level, students learn about their roles as individuals, workers and consumers while focusing on key life skills like the importance of saving and the difference between wants and needs. Middle and high school students learn about key economic principals, workforce issues they will face, personal budgeting and credit.
Junior Achievement’s office is located at 1921 N Rainbow Blvd. on the second flood of Nevada State Bank. For more information visit JASNV.org. Like Junior Achievement of Southern Nevada on Facebook, Instagram and Twitter.
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