More than 10,000 bankers at more than 4,300 branches helped 389,000 young people learn about the value of saving during Teach Children to Save Day. The bankers’ presentations, which included games and activities about how interest makes money grow, how to create a spending plan and differentiating between needs and wants, were aimed at enhancing young Americans’ financial literacy and money-management skills.
Since 1997, more than 121,000 banking volunteers have reached more than 5.6 million kids through Teach Children to Save Day. The day takes place during April, which is designated as Financial Literacy Month. For 17 years this program has partnered banks with students for lessons on the importance of saving. The program has reached more than 5 million students with savings education lesson. This year Teach Children to Save Day was celebrated on April 23, while bankers gave lessons throughout the year. The 17th annual Teach Children to Save Day involved more than 10,000 bankers visiting classrooms and hosting financial education events across the country. The lessons covered the basics of saving, how interest makes money grow, how to create a budget and how to distinguish needs from wants.
“It’s never too early to start saving for the future — saving is one of the best ways to make your dreams come true. We must work together to advance financial education in this country to prevent our children from making costly financial mistakes,” said ABA President and CEO Frank Keating. “Bankers use this program to build a solid financial foundation, one lesson at a time.”
I’m proud of our industry and its longstanding commitment to improving financial literacy. It’s true, kid savers are more likely to attend college. Bankers get it, and this year they are trying to open more youth savings accounts than ever. Stop by your local branch and open a youth savings account today.”