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U.S. REP. MARSHA BLACKBURN AND FIRST TENNESSEE BANK "GET FI$CAL" WITH COLLIERVILLE ELEMENTARY STUDENTS

Event Part of the ABA Education Foundation's Teach Children to Save Program

COLLIERVILLE, Tenn., May 2– Today Collierville Elementary students learned a lesson on the importance of saving from U.S. Rep. Marsha Blackburn (R-7th) and Jerry Baker, CEO of  First Horizon National Corp., the parent company of First Tennessee Bank, as part of the ABA Education Foundation's Teach Children to Save program.

"Our youth are active spenders, but are they savvy savers?" asked Rep. Blackburn. "Today we put Collierville Elementary fifth graders on the path towards making good personal finance decisions as adults, by sharing with them the value in saving and sensible money management practices."

A 2008 America Saves survey reports that only 28 percent of Americans save the suggested 10 percent of their income.  Consequently, America's poor saving habits are trickling down to our youth, with one in four assuming that they are too young to begin saving, reports Charles Schwab Teens & Money 2007 survey.

 "Like other experts, good financial managers improve their skills over time," said Baker. "The sooner we begin educating children about how to use money wisely, the better able they're likely to be at handling their own finances when they become older." 

TCTS lessons bring reality and learning together, incorporating hands-on scenarios and real-life experiences to help kids understand financial topics including how interest makes money grow, how to budget and how to distinguish needs from wants.  Bankers choose from lessons like "Patty's Pet Hamster" or "Survivor Island" to make learning fun.

The ABA Education Foundation works to build a generation of financially educated consumers by connecting bankers and young people.  The Foundation's lesson plans and signature programs, Teach Children to Save and Get Smart about Credit, have helped more than 54,000 bankers teach money skills to nearly 2.6 million young people.