Millenials’ parents urged them to save, not invest
GREENFIELD — Millennials’ childhood financial education revolved around saving rather than investing, according to a PNC Investments’ Millennials & Investing Survey.
As children, younger millennials were taught more about investing than older cohorts, while millennials who were college-aged during the recession have different attitudes about money than those who were in high school at the time, the survey says.
While almost two-thirds of millennials reported that their parents always encouraged them to save money while they were children, only half say their family modeled good money management and even fewer disclose that their parents showed them ways to grow wealth beyond having a job.
“This survey finds that millennials’ financial education largely skewed toward savings instead of investing,” said Rich Ramassini, CFP, senior vice president and director of strategy and sales performance for PNC Investments. When it comes to building wealth over the long-term, investing is a critical component of a portfolio and one that should not be ignored.”
Old National Bank partners with ATM network Allpoint
EVANSVILLE — Old National Bank now offers its customers surcharge-free access to their cash at 55,000 ATMs as part of a new partnership with ATM network Allpoint, the company announced in a news release.
Allpoint Network ATMs — placed in premier retailer locations — are within Old National Bank’s branch footprint as well as nationwide and beyond, officials said. Complementing and expanding upon the bank’s existing fleet of ATMs, the Allpoint surcharge-free ATM network makes cash access quick, easy and fee-free for Old National Bank customers, they said.
“In today’s digitally evolving marketplace, we strive to deliver convenient banking solutions that serve our customers where and when they demand,” said Jim Sandgren, Old National President and COO. “Allpoint Network helps our customers avoid ATM fees, and makes accessing cash a simplified, seamless experience.”
YMCA, Westfield Washington schools to open new facility
INDIANAPOLIS — The YMCA of Greater Indianapolis and Westfield Washington Schools have reached a preliminary agreement to develop a $35 million YMCA branch and natatorium on 10 acres of land just south of Grand Park Sports Campus, said a story published in the Indianapolis Business Journal.
The development, proposed for the southwest corner of Wheeler Road and 181st Street, could be started in spring 2019 and open in fall 2020 if approvals are received and fundraising goals are met, YMCA and school officials said Thursday. The city is expected to contribute infrastructure improvements at the site.
Under the plan, the YMCA would fund up to $20 million for the 65,000-square-foot branch and the school district would contribute $15 million for an Olympic-size natatorium with a 50-meter pool — twice the size of Westfield High School’s aging pool.
The Wheeler Family, which owns the nearby Westfield Airport, has agreed to donate the land for the project, the school district said.
