Jeff Austin, III, Vice Chairman of Austin Bank speaks at Caldwell Elementary Tuesday Nov. 29, 2016. Austin Bank was recognized as the 2017 Business Hall of Fame Laureate by the Junior Achievement of the Greater Tyler Area. (Sarah A. Miller/Tyler Morning Telegraph)

Junior Achievement of Tyler thanked Austin Bank for its more than 100 years of service during a ceremony Tuesday at Caldwell Elementary Arts Academy.

Austin Bank was named the recipient of the 2017 Junior Achievement Business Hall of Fame Laureate, the highest honor given by Junior Achievement. The organization seeks to educate students about financial literacy through hands-on learning.

“We chose an organization that we feel has committed to the community and raised awareness for literacy,” Hall of Fame co-chair Gabrielle Mendoza said.

Junior Achievement gave its first Hall of Fame induction ceremony in 1990 before taking a hiatus until the early 2000s.

Previous honorees include the Bergfeld family, Brookshire Grocery Co., Barbara Bass and Billy Hibbs Sr.

“Austin Bank has been a big part of the community,” Mendoza said. “They allow employees to get out and get involved.”

Austin Bank Vice Chairman Jeff Austin III spoke on behalf of the bank. He spent time fielding questions from students and teaching them about financial literacy.

“It’s an honored tradition we have been able to carry on, thanks to a great team, to come out into this community and serve,” he said.

Austin answered questions about everything from what debit cards are for to the process of retiring overused dollar bills.

Junior Achievement has served the Tyler area since 1988. During the 2015-16 school year, Junior Achievement sent more than 220 volunteers into classrooms to teach students about work-readiness, entrepreneurship and financial literacy skills, according to its website.

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