On March 20, Virginia high school seniors will spend the day shadowing bankers at Bank of Botetourt as part of Bank Day, a statewide effort sponsored by the Virginia Bankers Association (VBA) Education Foundation and the VBA Emerging Bank Leaders.
The purpose of the day is to expose students to the banking industry and provide an opportunity for the students to learn about banking, financial services and the vital role Bank of Botetourt plays in its community.
The third Tuesday in March was declared Bank Day by the Virginia General Assembly in 1991 and Bank of Botetourt is proud to host students for this important program, an announcement from the bank says.
From their experience, participating students will write an essay for the chance to win a scholarship. Six regional scholarships of $2,500 each will be awarded, and from those six winners an overall statewide winner will be chosen. The statewide winner will receive an additional $5,000 scholarship and receive $7,500 in total. There will also be six honorable mention scholarships of $1,000 each. In all, 12 students will receive scholarships totaling $26,000.
During Bank Day, the students will visit various bank departments and learn about the loan process, the importance of good credit, the profile of a qualified borrower, deposit products, bank income and expense, technology and IT security, E-commerce, how Bank of Botetourt is involved in the community, the Federal Reserve System, payments, etc.
“Bank Day is one of the best short-term, hands-on experiences that a classroom teacher can offer their students— the opportunity to go inside the bank vault, to watch customer/bank officer interaction, to learn about the many services that banks offer, and to start the networking that often leads to part-time and summer jobs, scholarships, and a start on a career path in the financial world,” said Bruce Whitehurst, President & CEO of the Virginia Bankers Association.
“At Bank of Botetourt, we take our slogan ‘Taking Care of You’ seriously. We feel that the financial education of our youth is one more way the bank serves our communities. VBA Bank Day offers high school seniors the unique opportunity to experience community banking at its finest. They learn about banking, financial services and the vital role community banks play in their communities. We are proud to partner with the VBA to offer this scholarship opportunity,” said Lyn Hayth, president and CEO of Bank of Botetourt.