Oct 10 - The Independent Community Bankers of America has announced its exclusive agreement with Banking on Kids, which is a financial literacy program offered to community banks throughout the country. This program will help educate America’s youth about the value of saving money and the importance of being financially stable. It is yet another resource that community banks can use as part of local financial literacy efforts and programs.
“Teaching children about the importance of financial education at a young age is a great way to encourage financial literacy in adulthood,” said Bill Loving, ICBA chairman and president and CEO of Pendleton Community Bank, Franklin, W.Va. “The Banking on Kids program is a great opportunity to educate students in kindergarten to 8th grade, as well as their parents, about the value of saving money. You are never too young–or old–to learn steps on how to properly manage your money.”
This curricular-driven program helps encourage students to make weekly in-school savings deposits. All deposits accrued on a weekly scheduled school day are administered by students, with monies taken to a community bank. The money that students deposit eventually turns into individual interest-bearing savings accounts.
Banking on Kids first began in 1995 and has been introduced to more than 300 schools in Wisconsin, Kansas, Missouri and California. Since its installation, it has reached more than 150,000 elementary and middle school students and their parents.
For additional information about the Banking on Kids program, visit http://bankingonkids.org/part_icba.html.