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[Adult Roles and Financial Literacy]

Financial Institutions
In the technology age we live in we need to be educated about our banking options. Students tend to use the banking options of their parents or close friends. By understanding the different options available students can make more educated choices with their money. By learning how to better manage money, money then stops managing personal decisions.

[Grade(s): 11-12] [90-minute Lesson]

Teaching Materials
A list of local and national financial institutions for students to research. (pamphlets or brochures) Monopoly money (5 each of 6 different denominations/colors) Financial Institutions Comparison worksheet.

Standard 7: Students will practice family financial planning as it pertains to taxes, savings, and investing. Objective 1: Students will describe the services and payment options available from financial institutions. Psychomotor Domain, Level 5: Complex overt response

Other Resources/ Technology

Technology to play a video to the class. Any electronics students might need for presentations or research.

Student Friendly Learning Goal: I can make informed financial planning decisions. This means I can manage my money through choosing the best financial institution to meet my needs.

Introduction/Set Induction (3 minutes):

Students will each pick-up a monopoly bill on their way into class. The teacher will then play the following video clip: Banks vs. Credit Unions: Whats the difference? 2 Minute Finance.

Transition (5 minutes):
Students will get into groups based on the monopoly money they picked up on their way in. 6 groups of 5 (for a class of 30)

[Financial Institutions]

Lesson Body (75 minutes):

Role-Play: PHASE 1: Warm Up the Group (5 min): The teacher will read the following scenario to the students. John Doe just got his first job. His place of employment uses direct deposit and John has never used a financial institution before. His parents were not the best example of managing money and he is the first of his friends to get a job. What financial institution should John use? Your group needs to research your assigned financial institution and make a pitch to John (the class) why he should choose you and your financial institution. PHASE 2: Select Participants (5 min): The teacher will allow each group to have a choice in financial institutions they would like to represent. Each group must be different and there must be at least one bank and one credit union represented. Each group will select an individual to be their spokesperson for their group during the presentations. PHASE 3: Set the Stage (20 min): The teacher will ensure every group has an assigned financial institution and a spokesperson. The teacher will display on the board the following topics to ensure each groups knows to cover them: terms and services offered; rates on services; fees or penalties on services; insurance association. Students will then take time to research their assigned financial institution. PHASE 4: Prepare the Observers (5 min): The teacher will get the classs attention and hand out the Financial Institutions Comparison worksheet. The teacher will explain how the students will need to pay attention to the presentations so they can fill-out their worksheet. The worksheets will be handed in at the end of class for attendance points. PHASE 5: Enact (30 min): The spokesperson from each group will give their 5 minute pitch for their financial institution. Each group will get 5 minutes for their presentations. PHASE 6: Discuss and Evaluate (10 min): When every group has had a chance to present their financial institution, the teacher will then have the class review their worksheet. What additional information did students write down? What interesting facts did they find out from the presentations? What financial institution do you think John should use in his situation?

[Financial Institutions]

Transition (2 minutes):
The students will all put away any presentation and research material used.

Summary/Closure (5 minutes):
The teacher will explain how banks and credit unions are different but they both offer the same types of services. By knowing what services they offer and at what rates, individuals can make more informed decisions about what they want their money to do for them. When we know what our money is doing we begin to manage it as opposed to our money telling us what we need to do to make more of it or where is has to go to pay off our debts.

Each student will hand in their worksheets for attendance points. The teacher will check for completeness of the worksheet.

[Financial Institutions]

Financial Institutions Comparison

Name of Financial Institution Services offered Rates offered Additional Information

[Financial Institutions]