The ABA Education Foundation is challenging the banking industry to teach savings education to more children than ever before and open 15,000 new children’s savings accounts, in honor of the 15th anniversary of Teach Children to Save Day on April 12. NVE Bank is taking the challenging and will be participating in the Teach Children to Save event on April 27th and 28th at local elementary schools.
“We applaud thousands of banker volunteers for committing their time and expertise to give students a head start towards financial success,” explains Laura Fisher, the executive director of the ABA Education Foundation. “We hope to reach more than 900,000 this year and motivate families to visit their local bank and open a children’s savings account.”
“New research has shown that a child with a savings account in their name is seven times more likely to go to college. Education is only one part of the equation in helping kids form a savings habit,” said Robert Rey, President of NVE Bank. “At the end of the day, we hope lessons will inspire students to make saving a regular part of their lives.”
The Teach Children to Save program connects bankers with students for savings education lessons. Bankers use their real life experiences and their background knowledge to motivate students to become lifelong savers. Registered banks receive free online training, getting started and promotional materials, and are featured on the Teach Children to Save Honor Roll, the foundation’s list of participants.
The ABA Education Foundation provides financial education programs and resources that help bankers make their communities better. Nearly 100,000 bankers have taught basic finance skills to about 4 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.
NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 12 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nvebank.com.