Community Banking: A Smart Start For Young Adults

As your teen begins managing money, having a trusted financial partner can make all the difference. Community banks like Citizens National Bank offer a more personalized, educational experience than many online-only options, something especially valuable for young account holders. Here’s a few things to consider as you help your teen begin their financial journey:

• 54% of teen debit card accounts were opened in person. Despite being digital natives, Gen Z still values face-to-face interactions for first-time banking experiences. Bringing them into the bank and introducing them to a customer service representative provides them a valuable connection when they have questions.
• 58% of teens trust their parents for financial advice, compared to just 12% who trust social media. Parents are the top source of financial education (63%), followed by social media (37%). You as their parent are the most valuable source of financial information. CNB offers education and calculators on our website that you can utilize to aid them in making financial decisions. Let us be your resource!
• 29% of Gen Z already feel they’ve taken on too much debt. While this is lower than Millennials (41%) and Gen X (37%), it signals early financial pressure. Talk to your teen about the importance of paying off credit cards in full each month and budgeting in order to build a good credit score down the road.
• 79% of teens worry about future expenses, and only 17% feel extremely confident in making financial decisions. Most (54%) are only somewhat or not confident at all. Educating young adults and teens on financial tools is essential to building confidence. Involve them in financial discussions in your home, and have them open a student account to get familiar with managing money and debit card usage. You can track their spending through our online app.

You and your teen can speak directly with our local bankers who understand their goals and can offer tailored solutions for budgeting, saving, and responsible account use. Community banks like CNB provide secure, easy-to-use, digital tools while remaining close to home when questions arise.

Whether opening a first checking account, learning how to use a debit card safely, or setting saving goals, community banks give teens the support and confidence they need to begin their financial journey.