Commerce Bank and Roo Champions help student-athletes build financial confidence.
College athletes today have a new kind of paycheck to think about. Since the NCAA changed its rules in 2021, student-athletes have been able to earn money from their name, image and likeness — or NIL — through endorsements, social media posts, and other opportunities. For many young athletes, it’s the first real income they’ve had to manage.
Commerce Bank wants to help them learn how to manage it well. The bank has launched a new financial education relationship with Roo Champions, the NIL and marketing agency of the University of Missouri-Kansas City’s athletic department. Through the relationship, Commerce is providing the university’s student-athletes with ongoing financial education designed to help them make smart, informed decisions about the money they earn.
The program’s first session took place August 31, with more planned throughout the school year.
“Both organizations share a commitment to student development and long-term success,” said Terrence Harris, SVP and director of corporate retail sales at Commerce Bank. “And if you start to think about the NIL and income opportunities many student-athletes have today, we both recognized an opportunity to collaborate on financial education to help students make informed financial decisions. It’s really about preparing students for the future.”
Roo Champions works with UMKC athletes to help them build their personal brand and take advantage of NIL opportunities. Colleen Finney, general manager of Roo Champions, says financial literacy is just as important as landing a deal.
“We’re here to equip student-athletes with the opportunity and education to use their NIL, and to also prepare them for what comes next,” Finney said.
“NIL has created such a great and incredible opportunity in collegiate athletics, and now more than ever, student-athletes really have an opportunity to build their personal brand, learn what it means to work with businesses — of course, earn income — while creating some impact within the community.”
The idea for the collaboration grew out of ongoing conversations between the two organizations. “What started as an initial conversation around financial education evolved a bit because Roo Champions wanted to offer resources to their student-athletes to help them navigate the complexities that can come with receiving NIL money,” Harris said. “That led us to the program we’ve now begun to roll out with them.”
During the sessions, Commerce team members cover topics such as budgeting, saving, credit management and fraud prevention, along with goal-setting strategies that help students balance spending today with financial goals down the road.
“These base-level tools give them practical skills they can apply immediately,” Harris said.
Finney says one of the biggest challenges young athletes face is the urge to spend money rather than saving it. “For a lot of student-athletes, NIL might be the first time they’ve experienced earning a significant income on their own, and sometimes they want to immediately buy designer bags, jewelry or cars,” she noted. “While that’s certainly understandable, we want to help shift their mindset and get them thinking about how that money doesn’t have to depreciate based on what they buy right now, and how instead it could benefit them in the years to come.”
Commerce designed the sessions to be conversational and casual, so students feel comfortable asking questions. “We really try to avoid complex banking language and jargon,” Harris said. “Instead, we focus on delivering practical, real-life examples. Our goal is to foster an engaging conversation, and they’re learning through that conversation and the examples.”
Finney says the benefits of the program go beyond dollars and cents. Learning to manage NIL income also teaches students how to communicate with businesses, honor agreements and represent themselves professionally. “That’s why I’m so excited about this relationship with Commerce,” she said. “There are so many skills you learn through NIL that go beyond the paycheck.”
For Harris, the ultimate goal is to provide the student-athletes with a sense of confidence in making financial decisions.
“We want them to feel empowered to use their income in ways that support long-term goals and financial well-being,” he said. “If they can walk away feeling like money isn’t intimidating and they’re getting started on building a financial future, that would be a win for everybody.”
Finney hopes the lessons will help for many years to come. “Every athlete eventually has to transition to something else,” she said. “What you learn today can keep paying dividends for the rest of your life.”
