April is Financial Literacy Month yet, according to the FINRA Investor Education Foundation, less than one third of the people surveyed had been offered financial literacy programs and only one in five said they participated. Only approximately half of all those surveyed said their parents or guardians taught them about managing their finances.
“Research by Federal Reserve found that 44 percent of adults cannot cover an emergency expense of $400,” said BankUnited Chief Operating Officer Thomas M. Cornish. “From budgeting to meeting daily living expenses to planning for the costs of education or buying a home and saving for retirement, learning about managing finances can provide a real benefit. BankUnited is proud to support numerous financial literacy programs for both youths and adults.”
Cornish was recently inducted into the Miami-Dade County Public Schools Alumni Hall of Fame with fellow inductees NBC News Political Director and Meet the Press Moderator Chuck Todd and Miami City Ballet Artistic Director Lourdes Lopez.
Recently BankUnited completed its seventh season of Four Downs for Finance with the Miami Dolphins. In the popular program, students are encouraged to think about the importance of managing their money and submit essays for the opportunity to win autographed footballs from a Dolphins player and a $1,000 cash grand prize.
While BankUnited partners with local organizations and schools throughout Florida to offer financial literacy programs throughout the year, it has also been recognized nationally for three consecutive years with the Financial Capability Innovation Award presented at Nasdaq Marketsite in New York City.
The FINRA survey also found many people do not comparison shop before obtaining financial products such as a credit card. BankUnited’s knowledgeable team members are available to meet with customers and discuss a variety of financial solutions to help them reach their financial goals.
BankUnited has local banking centers in Aventura Commons, 21155 Biscayne Boulevard or phone (305) 931-2170 and at 19125 Biscayne Boulevard or phone (305) 466-5140.
