LeFlore GEAR UP students learn about checking and savings accounts


WILBURTON, OK (April 13, 2014) – There are two common types of accounts that you can open at any bank or credit union--checking and savings accounts. Central National Bank-Heavener representatives, Loan Processor and Assistant Cashier Skyla Duncan and Customer Service Representative Lindsey Hurst recently visited with LeFlore GEAR UP students to explain the importance of each.

A checking account is designed for daily transactions like bills, rent or mortgage, or spending money. Checking accounts usually have lower minimum balances, no limit on the number of transactions, and have an ATM card for managing your account.

Duncan and Hurst said most people seem to try to save a little money each month. A savings account is designed to help people prepare for an emergency or an unexpected expense for their car, house, or dorm room. Many people open a savings account because most checking accounts won’t earn interest on deposits while savings accounts do. Also, when money is tucked away in savings, it’s easier to forget about it so savers can start to build up their savings for other large expenses.

Duncan and Hurst discussed the importance of keeping up with account balance and distributed blank copies of a checkbook register and the back of a bank statement. They gave the students examples of debits and credits in which the students copied into their registers. Then they showed an example of a bank statement and instructed students on how to reconcile their account.

“Ms. Duncan and Ms. Hurst did a great job of explaining what is often seemed as complex banking issues to students in a way that made it seem easy,” said GEAR UP Education Coordinator Melissa Juarez. “They were great!”

Duncan and Hurst spoke to the students as part of a partnership with the GEAR UP program at Eastern Oklahoma State College. Juarez has been teaching financial literacy to the students this year.


Central National Bank Representatives Skyla Duncan and Lindsey Hurst visit with LeFlore GEAR UP students about checking and savings accounts.

Central National Bank Customer Service Representative Lindsey Hurst helps LeFlore eighth grade students Karlie Young, Sara Spurlock and Ailia Heilman during the financial literacy workshop.

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