NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Mutual of America announced today that Piggy Bank Project was named a Merit Finalist award recipient in the 2016 Community Partnership Award competition.
Piggy Bank Project was launched in 2012 by Andson, Inc., a Nevada-based nonprofit, to provide hands-on financial literacy training to young children at an age when healthy money behaviors can be more easily formed. Andson partnered with United Way of Southern Nevada Young Philanthropist Society and the Silver State Schools Credit Union to develop the Project.
More than 2,000 students at three elementary schools participate in Andson's year-round financial literacy program. They're encouraged to set savings goals and make deposits at a "bank" Andson sets up at their school. Those deposits are kept by the Silver State Schools Credit Union in savings accounts. At the end of 5th grade, students are given the option to convert their Piggy Bank savings into a regular savings account or withdraw them.
"Since 2012, Clark County elementary students have saved $160,187," said Anthony McTaggart, co-founder and COO. "We're working to reach even more students through our Bank on Wheels – a mobile Piggy Bank we're developing to reach not only schools but also libraries, community centers and additional locations throughout the county."
About the Mutual of America Community Partnership Award
The Mutual of America Community Partnership Award annually honors the outstanding contributions that nonprofit organizations, in partnership with public, private and other social sector organizations, make to society. Since 1996, the Community Partnership Award has recognized 210 partnerships from cities and towns across America. To watch videos of all of the national award-winning programs, visit the official YouTube channel for the Mutual of America Foundation Community Partnership Award.
About Mutual of America
Mutual of America specializes in providing retirement products and services to organizations and their employees, as well as to individuals. Since 1945, Mutual of America has remained committed to offering plan sponsors, plan participants and individuals carefully selected, quality products and services at a competitive price and the personal attention they need to help build and preserve assets for a financially secure future. For more information, visit mutualofamerica.com.