Communications

By Alex Koritz

Zions Bank CEO Scott Anderson appeared quite comfortable strolling in front of a class of seniors at West High School. Even though the media was situated in the back of the room, the students still may have not appreciated the significance of having the bank’s top executive speaking to them. Anderson’s message focused on the importance of using credit wisely. His mild, approachable manner captured the students’ attention as he utilized personal antidotes, lighthearted quizzes, and props that included giant-sized versions of credit cards that the students held up like contestants at a game show.

The event, appropriately held on National Get Smart About Credit Day, was one among 20 Zions-sponsored events held at high schools across Utah and Idaho—all designed to educate teens on the value of establishing good credit. Utah is now one of only eight states that require students to complete a general financial literacy course in order to graduate from high school.“In light of today’s credit crunch, we are reminded how critically important it is for young consumers to be financially literate early on so that they can make smart decisions while navigating an increasingly complex financial marketplace,” said Anderson.According to the Jump$tart Coalition’s 2008 national survey, only 48 percent of teens knew that a credit card holder who only pays the minimum amount on monthly balances will ultimately pay more in finance charges than a card holder who pays their balance in full. In addition, according to Bankrate.com, one in every three high school seniors uses a credit card, and 83 percent of college students use at least one credit card.
In closing remarks, Anderson announced that Zions would be giving the class $500 for them to invest—in whatever manner they deemed fit. He then promised Zions would double any profit the class made.
Tag-teaming the event at West High was Robert Brough, EVP of marketing and communications for Zions Bank. “We take very seriously being good corporate citizens. Giving back to the community is part of our history, and our success is tied to their success. “
Zions also sponsors Financial Peace University, which includes courses on financial literacy based on material from money guru Dave Ramsey. The bank strongly believes that teaching responsible debt management benefits everyone. If, for example, debt is borrowed and then not paid back, the community ultimately bears the burden.
Celebrating 135 years of business, Utah’s oldest financial institution has braved some of our nation’s worst financial disasters, including the Great Depression, heavy inflation in the 1970s, and the current financial crisis, emerging from each with a relatively good bill of health. Zions Currently operates 138 full-service banking offices in Idaho and Utah with approximately 2,700 employees. In addition, the bank offers a comprehensive array of investment and mortgage services, and has a network of loan origination offices for small businesses nationwide.
From it’s founding, Zions has held unusually close ties to the community. Driven by top leadership, the bank has a culture of service—encouraging its employees to get involved in all types of charitable activities. The Zions Employee Service Team (ZEST), along with other internal service committees, seeks out new and ongoing opportunities to serve across Utah and Idaho.
Zions Bank’s service arm extends far beyond financial education. The bank recently completed its annual Paint-A-Thon, in which employees painted 60 homes across Utah and Idaho, including landscaping, for low-income seniors who couldn’t do the work themselves. 730 homes later, the Paint-A-Thon is running on its 18th year.
When asked what advice he’d give other organizations wanting to make a difference, Brough suggests reaching out to service foundations and offering assistance. “It isn’t always about giving money; time and helping hands are extremely valuable. They’ll be thrilled to get whatever help they can.”
While financial scandals continue to pepper the news, it’s refreshing to see organizations like Zions stepping beyond corporate mediocrity by embracing their corporate citizenry.

Alex Koritz