Financial Education Mission Statement

“Bankers—Helping Texans in making informed decisions about budget, credit and debt management through financial education.”
Texas Department of Banking

Lytle State Bank recognizes the importance of financial education; it fosters financial stability.  The more you know about credit and banking services, the more likely you are likely to save, buy a home, and improve your financial health.  We want to help you build financial knowledge, develop financial confidence, and use banking services effectively.  Financial education affects everyone: youth, adults, senior citizens, immigrants and other groups such as military, hurricane victims, the disabled and single parents. 

Financial Literacy is a hot topic in Texas and throughout the country.  There is a need for Financial Education because wealth, prosperity and quality of life are all linked to education.  Knowing how to manage your money, prepare a budget, initiate savings plans, manage debt and make informed decisions about credit and financial products are all important to finding and living your dream. 

Where does Texas Rank?

• Lowest average credit score of any state in the nation at 651 (nation average – 678).  Source: April 2006 Experian Report
   
• One of five states to rate an “F” in assets and opportunities for families and a “D” in financial security.  Source: The Corporation for Enterprise Development, 1999
    
• Ranked 48th among states for average household net worth, and nearly one out of five Texans has no net worth.  Source: July 2005, Ft. Worth Star – Telegram
   
• Received 4th highest number of identity theft complaints filed with the Federal Trade Commission.  Source: The Office of Consumer Credit Commissioner Legislative Report:Reviewing Identity Theft and Senate Bill 473, December 2004
   
• More young adults filed for bankruptcy than graduated from college in 2001.  Source: ABA Education Foundation

Lytle State Bank wants to get involved.  As community bankers we want to volunteer our time and resources to provide financial education to help facilitate exercises in classrooms to our youth in local districts. This is vital to the future of our youth and necessary for the growth of businesses in our community.

House Bill 492 – Woolley, became effective September 1, 2005, requiring instruction in personal financial literacy in one or more courses required for high school graduation.  This requirement will help to provide students with knowledge and skills necessary to make critical financial decision.

Please let us know if we may assist you in this effort.  We can be reached at (830) 709-3601.  You may also go to our “Home” page and click on the “Contact Us” tab, please reference: Financial Education.

Here are some important links to financial education.

• Texas Department of Banking
   
• FDIC (Money Smart Program)
   
• Federal Reserve Bank (Building Wealth)
   
• American Bankers Association
   
• Independent Bankers Association of Texas
   
• Financial Literacy and Education Commission
   
• Texas Jump$tart Coalition
   
• A to Z Kids Stuff
   
• The United States Mint