The Community-Focused Banking Lender Joins Hundreds Of U.S. Businesses, Financial and Educational Institutions, and Organizations In the Charge To Foster More Education Around Financial Wellness.
LAS VEGAS, April 1, 2021 — Lexicon Bank, Nevada’s community-focused banking partner, will join the American Bankers Association, educational institutions, corporations, and sponsors of education programs across the U.S. to promote Financial Literacy Month throughout the month of April.
“Lexicon Bank is pleased to take part in this local and national charge to bring more awareness to financial literacy in our communities,” said Stacy Watkins, President and CEO of Lexicon Bank. “Building financial literacy is essential and as we observe this month, we stay committed to providing educational resources and opportunities for members of our community, of all ages, throughout the year.”
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 a 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. Lexicon Bank seeks to change the cyclical course by supporting organizations that teach financial acumen at a young age.
Lexicon Bank has been a long time partner with Junior Achievement of Southern Nevada (JASN), bringing educational resources and experiences to schools throughout the area. Coming on board as title sponsor in Fall 2020, Lexicon Bank continues to support and expand the reach of its virtual BizTown Adventures simulation, a popular program that combines in-class learning with a day-long visit to a simulated town, through December 2021. The program will allow 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. Children of all existing and new clients of Lexicon Bank will get exclusive access to participate in the program. Students who choose to work for Lexicon Bank in the simulation will be welcomed to an exclusive video to get an inside view of the branch.
The Bank’s commitment to advancing the financial literacy of the Las Vegas community goes beyond volunteerism, but through leadership too. Stacy Watkins, Lexicon Bank President and CEO, served on the JASN Board for thirteen years, specifically serving as Vice Chairman and Chairman within her term, and now serves as the Co-Chair of the Family Gifts Division spearheading the organization’s plans of bringing additional programs to the organization. Lexicon Bank Senior Vice President of Operations and Compliance, Hilary Nelson, also joined the Board of Directors for Junior Achievement of Southern Nevada in February 2021.
“Our community’s children need as much support as they can get. Junior Achievement of Southern Nevada provides them with needed help with financial literacy in a way that they learn how to fish versus just being given a fish,” said Nelson. “I appreciate JA’s work to educate and support youth and its Southern Nevada focus, and look forward to continuing and growing its efforts.”
Notably, Lexicon Bank featured JASN as a Community Spotlight in October 2020, a monthly initiative that highlights local non-profit organizations that are making a difference in the Southern Nevada community, when they kicked off their Inspiring Tomorrow’s Campaign. Clients were encouraged to support the campaign by making a donation or volunteering as an added effort to give back. To further the impact, The Rosenblum Family Foundation, led by Russell Rosenblum, Chairman of the Board of Lexicon Bank, matched donations to magnify the impact.
To learn more about Lexicon Bank’s Community Spotlight and find more ways to get involved, visit lexiconbank.com/community.
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 helps 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 principles, 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.
Media Contacts
Brie Christian
Revenue Media Group
p: 1-833-202-1300, ext. 203
e: brie.christian@revenuemediagroup.com
