Banc of California, Inc. (NYSE: BANC) teamed up with San Diego State University (SDSU) Athletics to announce a focus on financial literacy as the company was named an “Official Banking Partner of SDSU Athletics.” To launch the relationship, Banc of California employees and SDSU Athletics staff hosted a Tickets for Kids event at the Fowler Athletics Center on the SDSU campus which engaged more than 100 children from SDSU partner programs with financial literacy classes, pep talks and sports workstations with SDSU coaches, as well as the announcement of a 3,000-ticket giveaway to Aztec Football games to low-income students in the neighborhoods surrounding the campus.
“Banc of California is now part of the Aztec family,” said Jim Sterk, SDSU Athletic Director. “We are pleased to partner with a company like Banc of California, that places a significant value on giving back to the communities it serves. By teaming with Banc of California employees, we will be able to improve financial literacy for thousands of young people.”
A 2008 National Foundation for Credit Counseling, Financial Literacy Survey found that only 34 percent of parents have taught their teenagers how to balance a check book and even fewer have discussed how credit card interest and fees work. The same survey found only 59 percent of millennials say they pay their bills on time every month and that three out of four Americans say they are not saving enough.
“In this program, we are helping to give children a vision of what is possible beyond just math and balancing checkbooks. We are showing kids that there is an opportunity for everyone to attend college. And if we can plant that seed of opportunity, we can ultimately help elevate people’s lives,” said Diane Summers, Banc of California Senior Vice President. “This makes me proud to be with Banc of California and proud to be an Aztec.”
SDSU Athletics staff in attendance included SDSU Men’s Basketball Head Coach Steve Fisher. Coach Fisher joined bank employees to discuss athletics and the importance of understanding finances with the children during his pep talks. Additional Banc of California employees engaging with students included President and Chief Executive Officer Steven Sugarman, Senior Vice President Gary Dunn, Chief Retail Banking Officer Gaylin Anderson, and Managing Director Francisco Turner.
“We are excited to add SDSU to our strong network of community partners,” said Sugarman. “By working together, we look to broaden our efforts in reaching out to all communities in need while at the same time, providing our employees with new opportunities to volunteer and to also enjoy SDSU Athletics. Additionally, this is an important opportunity for Banc of California to tap into the phenomenal and committed SDSU alumni network as we look to grow our customer base throughout Southern California.”
As part of Banc of California’s commitment to community outreach, the company recently became the largest investor in Clearinghouse CDFI; a mission-based lending institution serving California’s low to moderate income communities. In 2012, Clearinghouse CDFI funded a record-level of community development loans totaling over $70 million. These loans included affordable housing, special needs housing, economic opportunity projects and community facilities. Banc of California has also worked to establish and expand partnerships with organizations seeking to positively transform lives throughout California including the Cesar E Chavez Foundation, Los Angeles Team Mentoring, Chicano Federation of San Diego County, the LA Conservation Corps, JVS Los Angeles, Foster Care Counts, the Watts Century Latino Organization, as well as charter schools and other charities.
“Banc of California’s financial literacy program teamed with Tickets for Kids will have a positive impact on the young people living in our community,” said Fisher. “All of us at San Diego State appreciate this level of commitment and partnership. Together, SDSU Athletics and Banc of California will really make a difference in the lives of the kids who look up to our athletes and the communities that root for us.”
About Banc of California, Inc.
Since 1941, Banc of California, Inc. (NYSE: BANC) through its banking subsidiary Banc of California, National Association, has provided banking services and loans to private businesses, entrepreneurs and homeowners in California and the West. Today, Banc of California, Inc. has over $4 billion in consolidated assets and more than 80 banking locations.