In partnership with New College Institute in Martinsville, Virginia, we’re working to empower individuals age 50 and over to take control of their changing financial needs. In Finances After 50, Assistant Vice President and Quality Control Mortgage Purchase Manager Lisa France worked with her Carter Bank & Trust teammates to build a curriculum to help mature adults take charge of their financial wellness. The team leveraged curriculum from the FDIC and Consumer Financial Protection Bureau, called Money Smart, and also used material from the Department of Labor website.
Financial Planning for Older Adults
This program, Finances After 50, raises awareness among older adults and their caregivers on how to prevent elder financial exploitation, and also encourages advanced planning and informed financial decision-making. The three main topics include protection from identity theft, best practices for downsizing or paying off your mortgage, and retirement preparation.
The launch of training program took place at no cost to the public as a way to give back to our community; and approximately 20 individuals attended.
“When I was doing this presentation and we were getting prepared, one of the things that really struck us all was the fact that the most expensive thing you’ll ever buy in your lifetime is your retirement,” says France. “Most people thinks it’s their house. People spend about an average of 20 years in retirement. That’s a long time to cover expenses.”
All of these topics came together to help individuals plan for retirement, make informed financial decisions and become the architect of their own financial future.
Why Is This Important?
At Carter Bank & Trust, our goal is to support the communities that we are privileged to serve. When it comes to customers over 50, we want to empower them to be able to retire, live comfortably, and not stress about how to make ends meet. For France, it’s a personal passion.
“I think it’s our responsibility to do everything we can to help people get ahead financially,” says France. “If people really try, something like a car repair or having to miss work, should not cast them into a financial hole that they can’t escape.”
France believes that it is community classes like this that can make an impact. When people feel supported and are provided with the right resources, financial struggles can be prevented.
About Lisa France
Lisa France joined the Carter Bank & Trust family 14 years ago in the loan department. Since then, she has become a key player in our lending and mortgage departments as assistant vice president and quality control mortgage purchase manager. She works in the mortgage purchase operation and provides additional support with special projects when needed.
She partnered with Executive Vice President and Risk Management Director Loran Adams and Mortgage Loan Specialist Debi Smith to present the Finance After 50 class. France has also participated in numerous other educational sessions at New College Institute and local community churches.
If you would like a Carter Bank & Trust representative to present at your organization, please contact Beverly Pitzer at beverly.pitzer@CBTcares.com or your local branch manager.