6/15/2012: St. Mary's Bank Helps Students Crunch the Numbers on Car Ownership
For immediate release:
June 15, 2012
Contact: Elizabeth Stodolski
St. Mary’s Bank Helps Students
Crunch the Numbers on Car Ownership
Manchester, NH— June 15, 2012—Teens at Memorial High School in Manchester recently learned from St. Mary’s Bank that there’s a lot more than sticker price to consider when purchasing a first car. In a free seminar packed with tips for the first-time car buyer, Thomas Champagne, St. Mary’s Bank Director of Community Outreach, and Alex Saidel, President of Operations, Merrimack Street Volvo in Manchester, NH covered everything from budget planning and research to how to check out an automobile and negotiate a good deal. “St. Mary’s Bank’s initiated this seminar as part of an outreach effort to provide financial education opportunities to the broader community,” said Champagne. “In this case, our goal was to teach students how to do their homework before buying a car, so they can afford not only the car but the gas to run it. It’s a practical financial lesson that will serve them well now and in the future.”
“Many teens see buying a car as a milestone, but don’t always grasp the financial reality of such a purchase,” said Meghan Roche, NH-JAG Youth Specialist at Memorial High School. “Thanks to the St. Mary’s Bank seminar, our students are well on their way to becoming savvier car buyers and, in general, smarter consumers,” said Roche.
St. Mary’s Bank’s hour-long seminar reviews in detail the “total cost” of purchasing and owning a car, from how to plan for payments and maintenance to understanding and selecting insurance coverage. The credit union partnered with local car dealer Merrimack Street Volvo the Memorial HS seminars, so that in addition to the classroom presentation, the students had the opportunity to inspect a car firsthand and learn how to make the most of a test drive.Student and teacher feedback on the seminar has been very positive, said Champagne. Champagne has also presented the seminar to classes at Pinkerton Academy and Londonderry High School. They are hoping to offer the seminar at more schools and colleges in the future.
About St. Mary’s Bank
Founded in Manchester, New Hampshire in 1908, St. Mary’s Bank is the nation’s first credit union. As a not-for-profit, member-owned credit union, St. Mary’s Bank makes progressive financial products and services available and affordable to consumers and businesses. Members enjoy excellent service, competitive rates, low fees and state-of-the-art banking services. Headquartered in Manchester, New Hampshire, St. Mary’s Bank has branches in Manchester, Hudson, Londonderry, Milford and Nashua. Call 1-888-786-2791 or visit www.stmarysbank.com for more information.