Astoria Federal Savings Enhances Its 'Teach Children to Save' Celebration

Introduces a School Outreach Program and Essay Contest for Financial Literacy

May 13, 2010, 13:19 ET from Astoria Federal Savings

LAKE SUCCESS, N.Y., May 13 /PRNewswire/ -- Astoria Federal Savings recently launched its annual Teach Children to Save celebration, a national financial literacy campaign to educate young people about the importance of saving money. The celebration features three components, an in-branch student celebration, a school outreach program, and an annual essay contest.

Starting on April 25th, neighborhood branches hosted bank tours, awarded raffle prizes, and presented children with $5 toward their initial deposit throughout the week when opening a free Student Savers account. Hundreds of students participated.

A new School Outreach Program was also introduced, encouraging young students to save for their financial futures, based on the American Bankers Association (ABA) Education Foundation's Teach Children to Save program. Using an age-appropriate curriculum that meets national teaching standards, Astoria Federal Savings' branch managers have reached out to more than 1,500 first through fourth graders during the past three weeks, by conducting fun and interactive lessons on saving money.  

Astoria Federal expects to receive several hundred essays for its annual Essay Contest, which runs through May 17th and asks children ages 5 – 12, to complete the statement: "If I save a lot today, in the future I could…" Children throughout Brooklyn, Queens, Nassau, Suffolk and Westchester can visit any Astoria Federal branch to pick up an official entry form and enter the 250-word essay contest (entry forms also available online at

In June, an Essay Contest winner will be selected from each branch, as well as first and second place winners overall, in three age categories. They will receive U.S. Savings Bonds, while one grand prize winner will receive a new personal computer. This year, for the first time, the grand prize winner's school will also be presented with a new PC.

"The amazing feedback from teachers, parents, and students far exceeded our expectations for this year's Teach Children to Save celebration, especially the new School Outreach Program," said Astoria Federal Savings Senior Vice President and Director of Marketing Brian Edwards. "These are some of the many fun ways we are able to get children thinking about the important topics of saving money and the basic concept of budgeting. Our goal is to prepare them for a healthy financial future."

The Teach Children to Save Celebration and Essay Contest, along with the School Outreach Program, are part of Astoria Federal's Education First initiative, which was created to inspire lifelong learning in the communities it serves. Education First also encompasses the Bank at School program and Student Savers accounts. It also includes Kids Tools for School, an annual collection drive to help children be prepared on the first day of school by providing them with new school supplies, and The First Home Club™ to promote homeownership.

For additional information about Astoria Federal's Education First initiative, please call 1-800-ASTORIA or visit

Astoria Financial Corporation, with assets of $20.1 billion, is the holding company for Astoria Federal Savings and Loan Association.  Established in 1888, Astoria Federal, with deposits in New York totaling $12.7 billion, is the largest thrift depository in New York and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website,  Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states.  Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network covering sixteen states, primarily along the East Coast, and the District of Columbia, and through correspondent relationships covering seventeen states and the District of Columbia.

SOURCE Astoria Federal Savings