Bank of the West takes to the classroom for national Teach Children to Save Day

SAN FRANCISCO, April 23, 2013 /PRNewswire/ -- Children, like many adults, like to spend money when they get it.  The key to helping them develop the savings habits that will help them become responsible adults is to teach financial literacy early and make saving fun, according to Dian Quinn, Community Affairs manager for Bank of the West. 

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"It's not always easy, but it is never too early to begin saving to make your dreams come true," Quinn said.

Observing national Financial Capability Month, Bank of the West will take "Teach Children to Save Day" into two Oakland schools on Tuesday, April 23 and, over the course of the month, host 30 activities across its regions to reach over 3,000 students.

Teach Children to Save Day is a program developed by the American Bankers Association. Over the past 16 years, 123,000 bankers have taught savings skills to more than five million students in this nationwide event.  

"Practices and motivation differ depending on a child's age, so strategies and goals need to be tailored for different children and different ages. It begins with talking openly about money and setting good examples by making sound financial decisions and being an active saver," said Quinn. 

Children develop spending patterns at a young age, according to studies by one state's Department of Financial Institutions (DFI). "Children who learn good money management skills are more likely to become adults who can make sound financial decisions," the DFI notes.Financial research reported by Money Magazine found that children are better money learners before their teen years when their misunderstandings about money become difficult to change.

California Department of Financial Institutions' Commissioner Teveia Barnes and Deputy Commissioner Debie Abella will join the Bank of the West executives to introduce savings ideas and general information about financial literacy during student assemblies in the schools.  Bank volunteers will then team up with teachers for follow-up lessons in the classrooms, kindergarten through eighth grade at Northern Light School, and kindergarten through third grade at Lazear Charter Academy.

About Bank of the West
Founded in 1874, $63 billion-asset Bank of the West (www.bankofthewest.com), member FDIC and equal housing lender, offers a wide range of personal, commercial, wealth management and international banking services. The bank operates more than 600 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with nearly 200,000 employees.

SOURCE Bank of the West