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FAQs, Teach Children to Save and the Million Child Challenge
ABA Education Foundation
- What is Teach Children to Save Day?
- What is the Million Child Challenge?
- How will we achieve the Million Child Challenge goal?
- What qualifies as a Teach Children to Save lesson?
- Do I have to participate on April 21?
- If I don't participate in April will my bank still be counted in the Million Child Challenge?
- Why should I participate?
- Do I have to use a Teach Children to Save Resource Kit?
- What free resources can I use?
- How can I get started?
- Do I have to know how many students I will reach before I can register?
- Am I responsible for contacting a school?
- How will my bank be recognized?
- What if I still have questions?
1. What is Teach Children to Save Day?
Teach Children to Save Day is an annual event held in April where bankers visit local classrooms to teach the value of saving. This year's event was held on April 21. Since it was started by the ABA Education Foundation in 1997, more than 60,000 bankers have reached some 2.8 million young people. Pictures from last year's event.
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2. What is the Million Child Challenge?
This year the ABA Education Foundation is calling on bankers to accept the Million Child Challenge and reach 1 million students with savings lesson on Teach Children to Save Day and throughout the year. Reaching this goal would double last year's impact when bankers taught 540,000 students. Teach Children to Save Day, observed on April 21, will mark the official launch of the Million Child Challenge.
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3. How will we achieve the Million Child Challenge goal?
During registration, bankers will report the number of students they will reach with a Teach Children to Save lesson. We'll tally the number of students, and report progress along the way to achieving the goal. In addition, the foundation will announce in April a way that consumers can participate in the Million Child Challenge.
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4. What qualifies as a Teach Children to Save lesson?
Teach Children to Save lessons must be taught by a financial services professional and cover the basics of saving: how to save, why to save and where to save. More on what is a Teach Children to Save event?
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5. Do I have to participate on April 21?
No. Banker participation is not limited to April 21. Bankers can have their Teach Children to Save lessons counted towards the Million Child Challenge throughout 2009. However, to be counted, bankers must register and report the number of students that they reach.
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6. If I don't participate in April will my bank still be counted in the Million Child Challenge?
Yes, but you must register.
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7. Why should I participate?
You can use your unique set of skills to help address a serious problem in our nation, the lack of financial literacy. Plus, it's fun! Banker volunteers enjoy interacting with students during the lesson and when they stop by the branch to open a new savings account. In a broader sense, it's an opportunity for bankers to affirm their commitment to their communities during tough economic times. These actions demonstrate that real banking happens on Main Street, not Wall Street.
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8. Do I have to use a Teach Children to Save Resource Kit?
No, you do not have to use the Teach Children to Save Resource Kits to be counted in the Million Child Challenge. Your lesson does need to be savings-focused. Also, look for a curriculum that is aligned with academic standards to ensure added value for teachers. Learn more about the TCTS Resource Kits.
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9. What free resources can I use?
The ABA Education Foundation has a host of free resources available to bankers.
Visit the products page for a budgeting worksheet, the Money Talks newsletter series and more.
When you register your TCTS participation online you'll get access to free, downloadable resources. These tools include a planning checklist, a sample email to recruit colleagues, a sample invitation letter to school administrators, participation certificates, a news release template and promotional posters and flyers.
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10. How can I get started?
Register online at www.abaef.com. Once you've registered, you'll get access to online resources with step-by-step direction to planning a successful event.
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11. Do I have to know how many students I will reach before I can register?
No. After you have an event planned, send an email to the foundation at edufoun@aba.com to report the number of students you will reach.
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12. Am I responsible for contacting a school?
Yes. Many first-time participants choose to start with a school where they already know a teacher or have a child enrolled. Or, your bank may participate in an adopt-a-school program.
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13. How will my bank be recognized?
The ABA Education Foundation maintains an online list of banks participating in the Million Child Challenge. We will promote this list with media, policymakers and members of Congress to highlight your commitment to your communities.
In addition, registered banks that provide a Teach Children to Save lesson before May 31, will also be included in the Teach Children to Save Honor Roll published in ABA's Community Banker magazine this summer. See list of registered banks.
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14. What if I still have questions?
If you still have questions, send an e-mail to edufoun@aba.com or call 1-800-BANKERS.
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Question? Contact the ABA Education Foundation.
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