Beecher, IL. (April 4, 2024) First Community Bank and Trust (FCBT) and the Independent Community Bankers of America (ICBA) are celebrating Financial Literacy Month in April by encouraging Americans to take control of their financial future and learn fiscally responsible habits that can benefit them at every age and stage of their financial journey.

Twenty-seven percent of Americans report that “just getting by financially or finding it hard to get by” describes them completely or very well. Meanwhile 59% want financial advice, but only a third (32 percent) turn to registered financial advisors for help, despite the fact that 68 percent indicated a personalized financial plan based on their goals is important.

“Having strong financial principles and putting money management practices into action can help avoid financial missteps and improve your financial outlook at any age or life stage,” said Steve Koehn, Senior Vice President at FCBT. “As a trusted financial advisor, located in the community and invested in your financial health, reach out and let us help power your financial potential.”

Often referred to as America’s favorite lenders, community banks are financial experts with a wealth of knowledge and local expertise to help consumers with:

• Budgeting to help you track income and expenses and build a plan to manage your finances, reach your financial goals, and create a nest egg. Sign up for First eAlerts so you know where your money is going each month.
• Saving and investing to help you assess savings and investment goals. One of the best pieces of advice we can give is to sign up with your employer to automatically directly deposit a portion of your paycheck into a savings account. The act of saving money is done for you so you don’t have to remember each time you get paid!
• Using credit to establish and maintain good credit so you can reap the benefits from this convenient and flexible form of payment without the consequences of mismanagement. Credit Sense, our credit score reporting tool, has numerous features to help you stay on top of monitoring your credit. In First eBanc and First eBanc Mobile, you can view your credit report and use the score simulator to optimize your financial health.
• Understanding debt load and available options like debt consolidation before taking out a loan. Our lenders can assess your situation and see if a personal loan or real estate loan could be beneficial.
• Download Zogo, our fellow financial education partner. It’s a gamified financial literacy app that rewards users for completing bite-sized lessons about saving for retirement, buying a car, opening a checking account, etc. Take your learning on the go! Download the app here: https://bit.ly/3S2VWjN

“Understanding financial principles is key to achieving your lifetime goals," ICBA President and CEO Rebeca Romero Rainey said. “Whether you're looking to fund educational pursuits, start a business, or plan for retirement, managing debt judiciously with the support of your trusted community banker can pave the way toward financial independence.”

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

About First Community Bank and Trust

First Community Bank and Trust is a privately-owned bank. Established in 1916 First Community Bank and Trust has been serving Beecher, IL, Peotone, IL and the surrounding communities for over 108 years. Our commitment to providing the best banking products and services is matched only by our outstanding customer service. We offer traditional community banking services, including mortgage, consumer, and commercial lending, as well as state of the art electronic banking services.

Press Contact:
Steve Koehn, Senior Vice President
First Community Bank and Trust
(708) 946-2246

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