Bankers Celebrate 17 Years Teaching Children To Save

April 23 is Teach Children to Save Day

WASHINGTON, April 23, 2013 /PRNewswire-USNewswire/ -- Thousands of bankers will host financial education events across the country this week as part of the 17th annual Teach Children to Save Day on April 23. Since 1997, the program, sponsored by the American Bankers Association, has reached some 5.6 million children with the help of more than 121,000 banker volunteers.

Financial education events will take place across the country with over 4,300 branches from banks of all sizes and charters participating. Participating banks are listed on the Teach Children to Save Honor Roll. The Teach Children to Save program is also supported by its national partners: BBVA Compass; Citi; City National Bank, Los Angeles; Fifth Third Bank; First Bank, Troy, N.C.; NBT Bank; Third Federal Savings & Loan Association of Cleveland, Cleveland, Ohio; U.S. Bank and Wells Fargo.

While personal finance instruction has increased in schools, most young people are still not receiving enough education to be financially confident and capable.  According to a recent survey, only 32 percent of American parents talk to their children regularly about personal finance.  In addition, 42 percent of Americans give themselves a grade of C, D or F when it comes to personal finance, according to another recent survey.

"We must work together to advance financial education in this country to prevent our children from making costly financial mistakes," said Frank Keating, ABA president and CEO. "Bankers use this program to build a solid financial foundation for each student one lesson at a time. I'm proud of our industry and its longstanding commitment to improving financial literacy."

For parents who want to get more involved in their child's financial education, ABA suggests the following resources:

  • Your local banker. More than 10,000 bankers in 49 states participated in the Teach Children To Save program this year, see ABA's Teach Children to Save Honor Roll. If your bank isn't involved, tell them about the program and ask if they'd be willing to host a lesson for children in your community.
  • Your local school. Talk to the PTA leaders or the school administrative staff about bringing education to the classroom or an after school program. Suggest getting the local bank involved.
  • Your community partners. Find out what the local Boys and Girls Club, Boy and Girl Scouts, YMCA and library are doing in your community to promote financial literacy. Most offer programs to teach children the ins and outs of personal finance.  
  • Learn more about your state's requirements. Most states have some type of personal finance requirement. Check out Council for Economic Education's state-by-state report at councilforeconed.org for more information about what your state requires and to make sure your school is in compliance.
  • Online resources. There are a number of online resources available for parents and kids. Visit TeachChildrenToSave.com for helpful tips and ideas. You can also visit MyMoney.gov which offers tips and links to other helpful sites including TreasuryDirect.gov/kids where you can find educational games for kids.

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $14 trillion banking industry and its two million employees. Learn more at aba.com.

SOURCE American Bankers Association



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