Who Wants to Bea Millionaire?Exploring careers in the financial world

Presented by Alisha Arnold, Amy Matisek & Rick Weber

Introduction

• How to Be a Smart Saver & Spender

• Why You Should Consider a Career in the Financial Industry

• What Skills are Important to Your Success

• Important Money Management Tips

• How Financial Institutions Help Entrepreneurs, Consumersand our Community

Setting the Foundation

• Icebreaker Activity• How “money smart” are you?

• Working in the financial world can help you understand personal finance better.• Who can be successful?

What’s in It for You?

• Why Work in the Financial Industry

• Many position options• More than “just being a banker”

• Competitive pay• Educational benefits

Jobs in a Financial Institution

• Positions that directly make a difference with members (customers)

• Member Relationship Reps

• Assistant Managers

• Managers

Check Your Skills for Success

• Adaptability• Initiative• Accountability• Positive Attitude• Teamwork• Innovation• Personality vs Technical

What if Member ServiceIsn’t for Me?

• Other Careers at a Financial Institution include …• Loan Processors & Officers• Human Resources• Asset Recovery• Risk Management• Payment Services• Call Center Reps• Marketing• Corporate Communications

Marketing &Community Relations• Is Marketing for you?

• Activity• The 9 Dots Puzzle

• What makes an effective Marketer?• Organized• Creative/Innovative• Good Communicator

Credit Unions & the Community

• “People Helping People”

• Aligns with our Core Values• Caring• Innovative• Honest• Fair• Dedicated

• Work for a Company with Values like your Own

It Takes More thanan Interview• Criminal Background Check

• Pre-employment Drug Testing

• Consumer Credit History Check

• Working for a financial institution makes it easy to become money savvy.

Managing Your Money• Build a budget• Organize• Track• Analyze• React• Review

• Set savings goals• Short-term, Mid-term, Long-term

• Build a cash reserve

What’s Credit?• Credit = Financial Trustworthiness• Lenders look at your credit record

• Excellent credit rating gets you the bestrate & terms

• Start building a good credit record• Apply for and use a credit card• Use student loans for tuition and books• Make at least the minimum payment due• Pay all debts on time

What’s a Credit Score?• A credit score is a number that represents the

amount of credit risk associated with an individual.

• Three credit reporting agencies

• FICO Scores• Between 300 and 850• Higher scores indicate low risk• Lower scores indicate high risk

How a Credit Score is Calculated

35%

30%

15%

10%

10%

Payment HistoryAmounts OwedLength of Credit HistoryRecent Credit Inquiry/ New CreditTypes of Credit Used

This information is only in general terms as the actual formula is quite complex.

What Lenders Look For• Character – Willingness to pay

• Capacity – Ability to repay

• Capital – Net worth

• Collateral – Asset used to secure loan

• Conditions – Overall economy

Credit vs Debit Cards• Debit Cards• Draw money directly from your checking account• A hold is placed for amount of purchase• Merchant sends transaction to financial institution

& funds are transferred

• Credit Cards• Allow you to borrow money• Charge you interest• Typical grace period of 30 days

Wrap Up• How to Be a Smart Saver & Spender

• Why You Should Consider a Career in the Financial Industry

• What Skills are Important to Your Success

• Important Money Management Tips

• How Financial Institutions Help Entrepreneurs, Consumersand our Community

• QUESTIONS?