Devils Lake Bank earns award for community education program

Northwestern Financial Review, Jan 23, 1999 by Olmsted, Monte

For the second time in four years, a Devils Lake bank received national recognition for its public education work, this time for its ongoing teaching of money management.

The Ramsey National Bank & Trust Co. was one of six institutions honored nationwide last year with the American Bankers Association Education Foundation's Outstanding Contributions to Consumer Education award. The awards were announced on Dec. 15.

In 1995, the bank received the same ABA honor for starting a children's savings club and providing start-up assistance for a school store run by fourth-grade students.

The latest award was given as a result of The Ramsey National Bank & Trust Co.'s education programs that include the two previously mentioned projects; providing senior citizens with investment and retirement planning, and enlightening high school students about banking's impact on every day life.

For the latter project, the bank partnered with area schools in the "How To Do Your Banking" program and, so far, some 800 students from four institutions have participated.

Under the supervision of bank staff and teachers, students learn about banking facets including check writing, concepts of credit, credit rating and savings, said Karen Riggin, Personal Economics Program (PEP) coordinator at the Devils Lake bank. She and three other bank staff members administer the program, conducted through educational tools including school presentations, guidebooks and interactive video.

"Part of PEP's goal is to stamp out financial illiteracy, and by doing it, banking volunteers go to schools to speak with students about financial education," Riggin said.

For the program, Riggin obtained materials including handbooks and a seven-lesson video-enhanced kit. A pilot program was launched in 1995 at the Lake Area Vo-Tech School in Devils Lake and turned into a success, Riggin said.

Schools are not charged for the program.

As interest in the program spread, three other schools signed on including high schools in Devils Lake, and nearby Sheyenne and Fort Totten. The arrangement with the latter school is a unique one since the Four Winds High School is on the Spirit Lake Indian Reservation, home to members of the Sioux nation.

The bank saw a chance to help the students from the reservation, an area where many residents deal on a cashonly basis and seldom use banking services, Riggin said. Students and teachers from Four Winds High School toured the bank and learned about debit cards, loans and savings accounts.

"There were many who had never been inside a bank before, let alone have a checking or savings account," said Riggin. "They said none of their parents had checking accounts either, and that made it really interesting to teach the concept of banking."

About 155 students from the Four Winds High School have participated in the program since the school signed on in the fall of 1996. Riggin said the bank received many letters of praise from students and teachers.

"(A Four Winds teacher) said the students talked for days about visiting the bank. I think we made a good impression on them," Riggin said.

The bank will continue its PEP programs, which have also earned honors for Riggin. She received North Dakota's Outstanding PEP Banker Award in 1995 and 1998 and hopes the bank's programs will have lasting impact.

"It's a lot of extra work, but if we can get one out of 20 to learn to save, it's worth it," Riggin said.

The Ramsey National Bank & Trust Co. of Devils Lake is part of a two-bank holding company, Ramsey Financial Corp., which also operates Cando-based Ramsey Bank. With $118 million in assets, The Ramsey National Bank & Trust Co. serves five communities: Devils Lake, Esmond, Fargo, Maddock and Sheyenne. Scott Thompson is the bank's president.

By Monte Olmsted