Foundation, association team for jobs program

Northwestern Financial Review, May 1-May 14, 2004 by Hilgert, Jackie

Gerald Payne got his first look inside the world of banking while in high school. Thirty years ago, Payne put in two hours a day at the First State Bank of Le Roy, filing checks, learning operations and counting cash. Today, he's president of the $50 million rural Minnesota bank. A new program created through a partnership between the Independent Community Bankers of Minnesota and the Carl and Eloise Pohlad Family Foundation is meant to spur the same type of interest in banking and finance for 50 Minnesota teens this summer.

The organizations recently teamed up to create a youth summer jobs program entitled, "Training, Educating, And Mentoring" Future Bankers, or T.E.A.M. Future Bankers for short. Community banks across the state are being asked to participate in a program that will give meaningful employment and educational opportunities to economically disadvantaged teenagers. "T.E.A.M. Future Bankers comes at a time when the need for summer youth programs is high, but the stress on public budgets has reduced support for such programs," said Marina Munoz Lyon, vice president of the Carl and Eloise Pohlad Family Foundation. "We're trying to open a door to an industry and an opportunity that is not going to be open for them on their own because of their circumstances - whatever those may be."

The Pohlad Family Foundation approached ICBM with the idea to create a summer youth jobs program with a finance focus and ICBM's board unanimously approved the idea, Payne said. ICBM will administer the education and communication components.

The foundation's primary focus is providing assistance and opportunities to economically disadvantaged citizens. Munoz Lyon said high schools located in the communities where participating banks operate will be informed about the program and asked to submit the names of a handful of candidates. Banks will then conduct interviews and hire whoever is most qualified to serve their individual institution.

For Payne, whose bank will participate in the program by hiring two teens, this means identifying students who are enthusiastic about learning and have good people skills.

"A customer's first impression of the bank will come from interaction with these people," Payne said.

At First State Bank of Le Roy, program participants will work from the first week in june to the final week of August and rotate through all areas of the bank - learning operations, working the teller line, following loan applications, even sitting with Payne as he analyzes investments, income statements and balance sheets.

Students in the program will earn $8 per hour and work a minimum of 20 hours per week. Munoz Lyon said the program includes an education component, a modified version of Banking Basics, which will be provided by ICBM's education department. "There's at least three times when there will be structured education and then there'll be mentoring and job shadowing," she said.

Students will receive compensation for all their hours in the bank, whether it's time spent learning or time on task. The foundation plans to subsidize a portion of the wages paid to program participants.

Will Haddeland, ICBM president and CEO, said the organization hopes the experience will encourage students to make financial services a career goal. Payne echoed that sentiment, saying he hopes participants come away from the bank interested enough in finance that they pursue education beyond their high school years.

"The program may not be around next year, but we may wish to rehire the participants next summer," Payne said. His bank typically adds summer help to cover staff vacation time.

The foundation plans to conduct pre- and post-program surveys with students, parents, and bankers to assess the success - and the future - of T.E.A.M Future Bankers.

"The most important thing for us," Munoz Lyon said, "is the kids have a meaningful experience. We're also hopeful that the banks get some great work and have a good experience."

By Jackie Hllgert