MOUNDS VIEW, Minn. - The checkbook. It's been around for years, the popularity of the paper check has even defied predictions of the advent of the checkless society. Yet mention the task of balancing a checkbook to many people and you hear an audible groan. Despite the paper check's popularity, there are many consumers who are still uncomfortable with managing a checking account. Liberty's new interactive Checking Account Management Program may be the tool that helps reduce some of that intimidation. Begun several years ago by Liberty in a workbook format called "Checking Account Manager," the company's new program marks the first time Liberty is using the PC/Mac-compatible CD format for the educational tool. "There are a lot of misconceptions about the checking account," explained Sue Klemond of Liberty. "Many younger people dealing with ATMs, for example, are confused about the difference between their actual balance and available balance. They have difficulty keeping track of the checks they write and the amount of money in their checking accounts. Many adults even have trouble balancing their checkbook. The Checking Account Management Program is designed to show them a checking account is not as difficult to manage as they might think." The CD includes a multimedia presentation and two printable files. It also features a workbook for students and curriculum ideas and talking points for the instructor. "It's meant to be interactive," said Klemond. Checking Account Management focuses on checking terms, how to deposit and write a check, how to record transactions in a checkbook register, and how to balance a checking account. Instructors' notes are organized into an eight-part lesson plan including: checking and checking concepts; opening an account; depositing a check; writing checks; ATM transactions; using your checkbook register; balancing your account; online baking; and checks and checking glossary. Many of the illustrations included in the instructors' notes are full-page and can be replicated for use by overhead transparencies. According to NCUA, there was a 6% increase in CU share draft accounts from 1998 to 1999. "Despite the growing popularity of various new services and technologies credit unions are offering members like credit and debit cards, direct deposit, automatic bill payment and online transactions, the checking account remains the service that influences consumers' primary financial institution (PFI) relationship," said Liberty's Public Relations Manager Rick Foy. "So it's important that credit unions help members know how to handle and effectively manage this payment mechanism." Foy said Liberty did not intend to distribute or promote the Checking Account Management Program directly to schools itself, but said the educational tool was an opportunity for credit unions to build their relationships with their communities and to use as a resource to familiarize students with credit unions. -
ekingoff@cutimes.com
