Tim Tramp (Coach) and Joe Kiley

Head coach Tim Tramp and First Savings Bank Northwest President and CEO Joe Kiley. Photo courtesty First Savings Bank Northwest.

First Savings Bank Northwest has teamed up with the Renton High School football program to teach financial literacy skills to student athletes.

Head football coach, Tim Tramp, reached out to First Savings President and CEO Joe Kiley for help teaching his players the value of saving, credit reports, identity theft, debt management, and loans. “There’s a big difference between getting financial advice from a parent or teacher and hearing it from an actual banker,” Tramp said.

The program could be especially helpful at Renton High, where nearly 65 percent of the high school’s 1,300 students qualify for free or reduced-cost school lunches. Free and reduced-cost lunches are provided based on household income level. Renton School District adheres to standards set by the U.S. Department of Agriculture, in which a household of four, with an annual income of $44,123 or less, qualifies for free or reduced-cost meals.

 

By having the bank provide free volunteers to teach athletes after school, the students gain real-world knowledge they can use after graduation, whether they continue on to college or enter the work force.

“What is driving my passion to build this program was realizing too late that I hadn’t taught my own kids how to manage their debit cards and checkbooks before I sent them off to college,” Kiley said. “Now, I want our bank to share its success with the community by promoting financial literacy as a lasting way to support kids in our area.”

In addition to providing finance management lessons, the bank supplies a pre-game meal for the team after each of the hour-long sessions.

The bank also has partnered with Habitat for Humanity, YWCA, and Vision House, and regularly sets up booths at community events to explain banking basics, including at Renton’s Spring Festival and the Renton Farmers Market. Kiley said there are plans to extend the program and reach more students.

“If we’re successful, and it looks that way so far, then we fully intend to expand to other teams once we work any ‘kinks’ out,” Kiley said.