WASHINGTON, April 24, 2012 /PRNewswire/ -- The ABA Education Foundation and Citi will partner together today to celebrate the 16th annual Teach Children To Save Day, part of a national campaign promoting the importance of saving for the future and financial literacy.
More than 800 Citi employees will meet with local youth to teach the concept of saving and how to determine needs and wants. Citi employees will volunteer in cities such as New York, Boston, Dallas, Chicago, San Francisco, Miami, and Los Angeles. With support from Citi Community Development, Teach Children to Save has been a 13-year tradition at Citi and during that time, Citi employees have taught over 90,000 children.
"Teach Children to Save is part of our commitment to responsible finance and giving back to the community," said Cece Stewart, President of U.S. Consumer and Commercial Banking at Citi. "As a banker and a parent, I know that learning about money at an early age is a priceless lesson. Citi is happy to be part of a program that helps give kids a healthy financial start."
Teach Children to Save is the banking industry's largest collaborative effort to encourage youth savings. Research shows that children who save are more likely to go to college, have better control over their spending and have a more positive outlook on life, as well as being more financially literate.
"I'm proud of how bankers can help inspire a positive financial future for America's youngest generation," said Frank Keating, ABA president and CEO. "Citi's many hours of dedicated service to the Teach Children to Save mission have made a significant impact in the lives of children."
This year, 1,400 banks of all sizes are participating in 50 states. More than 100,000 banker volunteers have taught savings to nearly 5.1 million young people since the program began in 1997.
About ABA Education Foundation
The ABA Education Foundation provides financial education programs and resources that help bankers make their communities better. More than 123,000 bankers have taught basic finance skills to some 5.2 million young people through participation in the Foundation's signature programs, Teach Children to Save and Get Smart About Credit. Founded by bankers in 1925, the foundation is guided by a board of bankers and is an affiliate of the American Bankers Association.
For more information, visit www.abaef.com or call 1-800-BANKERS.
Citibank is a member of Citi, the leading global financial services company, which has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
SOURCE Citi; The ABA Education Foundation