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OHIO Lancaster hosts free Financial Literacy Seminar Series

Published: September 24, 2021 Author: Matthew Hamrick

Ohio University Lancaster will host a Financial Literacy Seminar Series beginning Oct. 7. The series is sponsored by Park National Bank, Fairfield Federal Savings and Loan, and Standing Stone Bank. These educational seminars will be free to attend and open to the public.

“I’m thrilled Ohio University Lancaster has partnered with Park National Bank and Fairfield Federal and Standing Stone Bank,” Jarrod Tudor, dean of campus and community relations at OHIO Lancaster, said. “As part of our commitment to the community, we strive to offer valuable resources that extend beyond our academic programs. We welcome the community to take advantage of these free learning opportunities.”

The Financial Literacy Seminar Series will cover a wide range of topics. Park National Bank will teach how to start a small business, budgeting basics, retirement planning, and stock investing. Fairfield Federal Savings and Loan will share their expertise in buying and selling a home, mortgage types, and careers in banking. Standing Stone Bank will teach a seminar on consumer credit.

“This program is an exciting educational opportunity for our community that will help participants build a solid foundation for their future financial success,” Mary Snider, president and CEO of Fairfield Federal Savings and Loan, said. “As a banker, I often counsel customers to help them improve their credit standing or overall financial health. This program is a perfect complement to our mission at Fairfield Federal, to promote thrift and homeownership.”

Laura Tussing, regional president of Park National Bank, said she was excited to partner with OHIO Lancaster for the series. “Park believes strongly in the importance of financial education and providing our community members the tools to achieve their financial goals. We are proud to be a part of this.”

“We at Standing Stone Bank work with our customers every day to help them achieve financial success,” Jeffrey Beard, president and CEO of Standing Stone Bank, said. “Our partnership with Ohio University Lancaster allows us to further our work in our community on this important issue.”

Each seminar will take place in Brasee Hall, Room BH419, at 6 p.m. Refreshments will be provided. A full list of programming can be found below. 

Oct. 7 – Student Loans

Information about student loan programs and loan options; effects of payment deferrals on the loan balance; loan payment calculations and repayment terms; and Pell grants and scholarships.

Oct. 21 – Mortgage Math (Fairfield Federal Savings and Loans)

Most people who buy a home today do not have enough cash to pay the entire purchase price.  In this class, attendees will learn about the types of mortgage loans widely available, the mortgage loan underwriting process, and the breakdown of a mortgage loan payment including escrows. Attendees will review an actual mortgage document and learn the purpose it serves.

Nov. 4 – Buying and Selling a Home (Fairfield Federal Savings and Loans)

Homeownership is still the American dream for most of us. This class will provide a detailed look at the home buying and selling process, beginning with mortgage loan preapprovals, the marketing of residential properties and engaging the use of real estate agents, listing agreements, purchase agreements, inspections, real estate appraisals, the title search, title insurance and general warranty deeds, escrows, closings and closing costs.

Nov. 18 – Planning for retirement, estate planning, and pension plans (Park National Bank)

You’ve heard the saying, “If you fail to plan then you’re planning to fail.” Planning is a key element to financial wellness, whether it be for your retirement or for your legacy. In this class, we’ll cover the ins and outs of planning for retirement and the different types of accounts to get you there, including pension plans. We will also cover an often-overlooked element of financial wellness, estate planning.  

*Investment products are not FDIC insured, not bank guaranteed, and may lose value.

Dec. 2 – Stock investing, mutual fund investing, and cryptocurrency (Park National Bank)

If you’re unfamiliar with the investment world, it can be daunting to jump in. The different terms and approaches can sound confusing, and it can even prevent people from investing in the first place.  

In this class, we’ll break down some of the basic fundamentals and terms when it comes to investing, putting you on more confident path to understanding what’s being done with your money when you invest. Even if you’re familiar with some of the basic terms, a refresher can always help in the ever-changing world of investing.

*Investment products are not FDIC insured, not bank guaranteed, and may lose value.

Dec. 16 Consumer goods purchases and consumer credit (credit cards, etc) (Standing Stone Bank)

In this seminar, we’ll discuss the different forms of consumer credit, when it makes sense to use each option and how to effectively manage this form of financing.

Jan. 13 – Budgeting Basics (Park National Bank)

It’s easy to lose sight of what you’re spending week to week, especially if you’re spending on impulse. Budgeting is a great way to stay within your means, make sure you’re covering your necessities and give yourself room to save for your future.

Let’s talk budgeting basics so that you can map your financial journey, set goals and head down the road to financial success. 

Jan. 27 – Careers in Banking (First Federal Savings and Loans)

You don’t just have to be good at math to have a rewarding career in banking. A panel of local bankers will discuss their own career paths and the many career opportunities available in the banking industry such as mortgage and consumer lending, branch management, human resources, compliance, internal audit, information technology and marketing.  

Feb. 10 – Starting a Small Business (Park National Bank)

Small businesses are the backbone of our economy, but how does a great idea turn into a small business? In this class, we will talk about the process of starting a small business and discuss from a banker’s perspective the requirements of a small business loan request.