NEWS RELEASE 2011
ABA Media Contact: Marquita Powell  

(202) 663-5418
E-mail: mpowell@aba.com    

TCTS Bank Participants and Race to Save Participants

BANKER SAVING INITIATIVE AIMS TO EDUCATE AND CHANGE BEHAVIOR

15^th Annual Teach Children to Save Day Set for April 12

Washington, March 10 – 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 15^th anniversary of Teach Children to Save Day on April 12.  [TCTS Bank Participants]

"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." 

This year, in addition to teaching classroom lessons, the Foundation is encouraging banks to promote and incentivize children's savings accounts.  So far, more than 30 banks have accepted the challenge and joined the Race to Save campaign.  The campaign aims to give children an opportunity to practice savings behavior and reap the side effects of having an account.  New research has shown that a child with a savings account in their name is seven times more likely to go to college.   [Race to Save Participants]

"Education is only one part of the equation in helping kids form a savings habit," said Fisher.  "At the end of the day, we hope lessons will inspire students to make saving a regular part of their lives." 

To help make banker participation easy, the foundation released a new Teach Children to Save resource kit. The kit includes scripted lesson plans, worksheets, PowerPoint presentations and promotional materials and is correlated to national teaching standards. 

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. Those interested in participating can sign up online at abaef.com. 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.