SPRINGFIELD, Ill., Nov. 4, 2024 /PRNewswire/ -- INB is excited to announce a partnership with Greenlight ® Financial Technology, Inc. ("Greenlight") to better serve families and help the next generation build healthy financial futures. Starting today, INB customers will have free access to Greenlight's award-winning family finance app, available through the Greenlight for Banks program.
91% of kids and teens believe they need financial knowledge and skills to achieve their life goals, and 94% of parents agree.* Still, only 35 states require a personal finance course for students, and teens score an average of 64% on the National Financial Literacy Test, showing a clear gap in financial education that is accessible and effective. Parents also rank personal finance as the #1 most difficult life skill to teach their children with 81% saying they wish they had more financial education tools and resources.**
Greenlight offers a debit card and app that teaches kids and teens how to earn, save, give and spend wisely – all with parental supervision. Using the Greenlight app, parents can send money to kids instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of all transactions, and more. Kids get hands-on money management experience, along with access to Greenlight Level Up™, an in-app financial literacy game with a best-in-class curriculum, educational challenges, and rewards.
"Partnering with Greenlight is an exciting step forward in our efforts to support financial literacy in the next generation. At INB, we believe that teaching kids and teens how to manage their money wisely will lead to stronger communities and brighter futures. We're excited to bring Greenlight's innovative tools to our customers and their families," says Sarah Phalen, INB President and CEO.
INB customers can receive a free Greenlight Select subscription by registering through this link and adding their INB account as a funding source.
About INB
About INB, N.A. – INB is a privately owned national bank. Founded in 1999 in Springfield, IL, the bank offers both personal and commercial banking products and wealth services in Central Illinois. The bank also provides commercial banking services in Missouri and Florida.
*Survey insights were collected by Greenlight through a Researchscape survey fielded between March 22 and March 24, 2024, among 2,310 respondents in the U.S., split between kids and teens ages 10-19 and parents of 10-19 year olds.
**Survey insights were collected by Greenlight through a Researchscape survey fielded between February 9-12, 2023, among 1,034 U.S. respondents, all of whom were working parents of 8-18 year olds.
SOURCE INB, N.A.
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