Bankers Celebrate 18 Years Teaching Children To Save April 11

WASHINGTON, April 10, 2014 /PRNewswire-USNewswire/ -- More than 10,700 bankers will host financial education events across the country this week as part of the 18^th annual Teach Children to Save Day, on April 11. Since 1997, the program, sponsored by the American Bankers Association, has reached 6 million children with the help of more than 130,500 banker volunteers.

While personal finance instruction has increased in schools, most young people are still not receiving enough education to be financially confident and capable.  The classroom lesson component of the Teach Children to Save program involves bankers teaching students financial skills through activities, interactive scenarios and sharing real-life experiences. The lessons cover the basics of saving, how interest makes money grow, how to create a budget and how to distinguish needs from wants.

"Every adult in a child's life needs to take leadership in helping them build money skills that will last a lifetime," said Frank Keating, ABA president and CEO. "That's what this program is about, bankers taking this necessary and extraordinary role in shaping the financial capability of its students."

This year, approximately 30 members of Congress will join some of the 774 participating banks in their Teach Children to Save lessons. Sen. Tim Kaine (D – Va.) will deliver a lesson on Friday, April 11 with ABA's Keating to 76 fourth-graders at Hollin Meadows Elementary School in Alexandria, Va.

Financial education events will take place across the country with more than 5,772 branches from banks of all sizes and charters participating. Click here for the full list: Bank Participation List. The Teach Children to Save program is also supported by its national partners: BBVA Compass; Citi; City National Bank, Los Angeles; FirstMerit Bank; NBT Bank; Third Federal Savings & Loan Association of Cleveland, Cleveland, Ohio; U.S. Bank; and Wells Fargo.

In addition, ABA is launching new resources in light of Financial Capability Month to help parents educate their children. ABA partnered with the Corporation for Enterprise Development to create a Road Map to Financial Responsibility outlining pointers for parents to instill financial capability at every stage of their child's life.  ABA also developed a new consumer website, aba.com/consumers, with personal finance resources on topics such as mortgages, credit cards, fighting fraud and saving for college to help consumers make knowledgeable financial decisions. 

SOURCE American Bankers Association