From saving to buy an MP3 player to saving for college, elementary school students at 19 schools in three states will learn about the importance of saving from M&T Bank volunteers during "National Teach Children to Save Day."
M&T employees will join thousands of bankers across the country visiting local schools tomorrow, April 29th, as part of the American Bankers Association Education Foundation's National Teach Children to Save Day, a financial literacy initiative established in 1997.
"A recent national survey by the JumpStart Coalition for Personal Financial Literacy shows that our high school students get failing grades when it comes to understanding money. Introducing some basic money concepts, such as the importance of saving, to elementary school kids is a good place to start building these basic skills," said M&T Bank President Mark Czarnecki.
M&T volunteers are teaching students in the following schools: New York Westminster Community Charter School, Buffalo Public School #25, Rochester Public School #8 -- Roberto Clemente Elementary, Rochester St. Augustine School, Highland Pennsylvania Logan Elementary, Altoona St. John the Evangelist, Altoona Camp Curtin Elementary School, Harrisburg Central Manor Elementary, Lancaster Bensalem High School, Bensalem Corpus Christi Elementary, Chambersburg West Beaver Elementary, Lewisburg Middleburg Elementary, Middleburg Spring Grove Elementary, York Paradise Elementary, York Bellefonte Elementary School, Bellefonte Maryland Violetville Elementary School, Baltimore George Washington Elementary School, Baltimore Lake Arbor Elementary School, Prince George's County Sargent Shriver Elementary School, Silver Spring
The bank offers the following tips to help parents promote good saving habits:
-- Make saving visible -- putting change in a jar helps introduce the concept of saving. -- Check your local library or bookstore for children's books that teach basic financial concepts. -- Help kids open their own bank savings accounts and make deposits regularly. Many banks have children's accounts that have no fee or minimum balance requirements. -- Talk to your children about budgeting and help them budget for an outing or purchase. -- Teach children how an ATM machine works and explain that you have to put money into a bank before you can take it out.
The ABA Education Foundation's National Teach Children to Save Day is held every April, giving bankers an opportunity to address the importance of saving with children across the country.
M&T Bank serves customers at 690 branches in New York, Pennsylvania, New Jersey, Maryland, Delaware, Virginia, West Virginia and Washington, D.C.
Web site: http://www.mandtbank.com/