Through his involvement with various local enrichment programs, Terrance Sauls, one of CrossFirst Bank's business bankers, has become a pivotal “Force for Good,” fostering growth and nurturing the development of the Dallas community, focusing on empowering low-income and minority groups.
Terrance has worked in banking for over 20 years, starting as a teller and working in various positions throughout that time. Early in his banking career, he partnered with business owners to offer their employees a suite of convenient banking services. He observed that some of his colleagues would not only connect with for-profit companies, but would also reach out to local nonprofits and offer their assistance to these organizations. Terrance was inspired by this business ethic, and has been emulating it ever since.
One of the efforts Terrance is most thrilled to be involved with is Hope Farm, where he serves as a board member. Hope Farm is an initiative that works directly with parents and teachers to create accountability and a “life plan” for at-risk boys. According to Hope Farm, “In 2019, nearly 2.5 million children, or 35% of all children in Texas, lived in a single-parent home, including roughly 300,000 in Dallas and Tarrant Counties. Female-headed households are twice as likely as male-headed households to be in poverty and over five times as likely as married couple households.” Hope Farm provides mentors for these children to help protect them from a troubled future. They also incentivize a commitment to academics by contributing a small amount of money toward a savings account when participants make good grades in school. And they provide counseling and educational resources for the parents. That’s where Terrance comes in.
Terrance teaches financial literacy classes to many groups in Dallas, including the parents of the Hope Farm kids. It cannot be overstated how vital this service is today. According to a Financial Industry Regulatory Authority (FINRA) 2018 financial literacy study, “Texas ranked 43rd among the 50 states and District of Columbia in regards to financial literacy.
The Federal Reserve Bank of Dallas says, “Texas’ low financial literacy rate is correlated with poor outcomes on such measures. For example, 8 percent of Texans don’t have bank accounts compared with 6 percent nationwide, and 41 percent use nonbank financial services, a far higher share than the 29 percent nationally. Nonbank financial service companies include payday lenders and pawn shops, as well as much larger entities such as nonbank mortgage lenders.”
The financial literacy classes that Terrance teaches include immersing students in the basics of:
Terrance's involvement extends beyond groups like Hope Farm. He actively seeks out opportunities to collaborate with other organizations and initiatives that share his vision for a thriving, empowered community. These partnerships have been instrumental in amplifying the impact of his work, reaching an even wider audience, and drawing in additional resources and expertise. Another example is his involvement with the Dallas Accelerator Program, which is operated by the Business & Community Leaders of Texas, the Dallas Black Chamber of Commerce, and the Greater Dallas Hispanic Chamber of Commerce. This program “leverages educational resources to support small business growth and capacity building to solidify the stability in the market.” Its mission is to “transform entrepreneurs into more skilled, competitive and successful business leaders prepared to do business with the City of Dallas and other entities.” As an experienced business banker, Terrance has helped secure part of the funding for the Accelerator program.
Ultimately, Terrance is providing life-building relationships, both with his business clients and his volunteer partners. He was born and raised in the Dallas area and has been cultivating authentic relationships in the area for decades. He says, “I believe that a relationship can inspire you to grow into your greatness, but also can confine you to complacency. A relationship can be your better half, or it can make you feel like you're less than half of yourself. A relationship can age you prematurely, or it can keep you youthful.”
Terrance's work is a source of inspiration and a call to action for others to engage in meaningful community service. Whether it's through professional expertise or personal passion, the opportunity to make a positive difference is within everyone's reach. Terrance's work exemplifies the ethos of the “Force for Good” series, showcasing how compassion, dedication, and a collaborative spirit can transform communities and create a legacy of betterment and growth. His work not only shapes the lives of individuals today but also sows the seeds for a brighter, more prosperous future for all. He’s one of numerous bankers at CrossFirst who daily exemplify our core values of character, competence, commitment, and connection. Be sure to check back soon for more stories about the people in our company that are a “Force for Good!”
Terrance has worked in banking for over 20 years, starting as a teller and working in various positions throughout that time. Early in his banking career, he partnered with business owners to offer their employees a suite of convenient banking services. He observed that some of his colleagues would not only connect with for-profit companies, but would also reach out to local nonprofits and offer their assistance to these organizations. Terrance was inspired by this business ethic, and has been emulating it ever since.
Hope Farm
One of the efforts Terrance is most thrilled to be involved with is Hope Farm, where he serves as a board member. Hope Farm is an initiative that works directly with parents and teachers to create accountability and a “life plan” for at-risk boys. According to Hope Farm, “In 2019, nearly 2.5 million children, or 35% of all children in Texas, lived in a single-parent home, including roughly 300,000 in Dallas and Tarrant Counties. Female-headed households are twice as likely as male-headed households to be in poverty and over five times as likely as married couple households.” Hope Farm provides mentors for these children to help protect them from a troubled future. They also incentivize a commitment to academics by contributing a small amount of money toward a savings account when participants make good grades in school. And they provide counseling and educational resources for the parents. That’s where Terrance comes in.
Financial Literacy
Terrance teaches financial literacy classes to many groups in Dallas, including the parents of the Hope Farm kids. It cannot be overstated how vital this service is today. According to a Financial Industry Regulatory Authority (FINRA) 2018 financial literacy study, “Texas ranked 43rd among the 50 states and District of Columbia in regards to financial literacy.
The Federal Reserve Bank of Dallas says, “Texas’ low financial literacy rate is correlated with poor outcomes on such measures. For example, 8 percent of Texans don’t have bank accounts compared with 6 percent nationwide, and 41 percent use nonbank financial services, a far higher share than the 29 percent nationally. Nonbank financial service companies include payday lenders and pawn shops, as well as much larger entities such as nonbank mortgage lenders.”
The financial literacy classes that Terrance teaches include immersing students in the basics of:
- Banking
- Budgeting
- Introduction to Credit
- Types of Loans & Lending Requirements
- Growing a Small Business
Dallas Accelerator Program
Terrance's involvement extends beyond groups like Hope Farm. He actively seeks out opportunities to collaborate with other organizations and initiatives that share his vision for a thriving, empowered community. These partnerships have been instrumental in amplifying the impact of his work, reaching an even wider audience, and drawing in additional resources and expertise. Another example is his involvement with the Dallas Accelerator Program, which is operated by the Business & Community Leaders of Texas, the Dallas Black Chamber of Commerce, and the Greater Dallas Hispanic Chamber of Commerce. This program “leverages educational resources to support small business growth and capacity building to solidify the stability in the market.” Its mission is to “transform entrepreneurs into more skilled, competitive and successful business leaders prepared to do business with the City of Dallas and other entities.” As an experienced business banker, Terrance has helped secure part of the funding for the Accelerator program.
Building Relationships
Ultimately, Terrance is providing life-building relationships, both with his business clients and his volunteer partners. He was born and raised in the Dallas area and has been cultivating authentic relationships in the area for decades. He says, “I believe that a relationship can inspire you to grow into your greatness, but also can confine you to complacency. A relationship can be your better half, or it can make you feel like you're less than half of yourself. A relationship can age you prematurely, or it can keep you youthful.”
Terrance's work is a source of inspiration and a call to action for others to engage in meaningful community service. Whether it's through professional expertise or personal passion, the opportunity to make a positive difference is within everyone's reach. Terrance's work exemplifies the ethos of the “Force for Good” series, showcasing how compassion, dedication, and a collaborative spirit can transform communities and create a legacy of betterment and growth. His work not only shapes the lives of individuals today but also sows the seeds for a brighter, more prosperous future for all. He’s one of numerous bankers at CrossFirst who daily exemplify our core values of character, competence, commitment, and connection. Be sure to check back soon for more stories about the people in our company that are a “Force for Good!”
Our Impact
May 21, 2024 by CrossFirst Bank
