Independent Bank associates across Michigan participate in Teach Children to Save Day
May 21, 2009
Independent Bank associates throughout the state participated in National Teach Children to Save Day on April 21 by visiting local schools and provided lessons to students on how to save and manage their money.
In partnership with the American Bankers Association Education Foundation and financial leaders throughout the country, Teach Children to Save Day provided an opportunity for discussion among family members and in classrooms about the importance of financial responsibility. This year the Foundation has set a stretch goal of reaching one million students with savings lessons on Teach Children to Save Day on April 21 and continuing throughout 2009. Currently, Independent Bank associates have taught 183 classes and reached over 4,733 students.
Using lesson plans and resource kits from the ABA, associates presented lessons to students in communities throughout the state in grades ranging from kindergarten to 12th grade. The younger elementary students participated in lessons on recognizing coins, the value of a dollar and identifying needs vs. wants. Students in the middle grades examined different methods of saving money, how to make decisions about the use of money and how to make a budget. The high school students learned about income, when to take less or more risk and the consequences of each. The high school students also learned what the costs may be for a new apartment.
Independent Bank CEO Michael Magee, Jr., is a strong proponent of financial literacy education. He encourages associates to reach community members by presenting nationally created programs, such as the ABA’s Teach Children to Save and Get Smart About Credit, and through customized presentations developed locally to meet the needs of any group interested in financial literacy.
Bank associates set out to educate young people, reaching students as young as kindergarten, with the hope that they will go into adulthood with a solid financial knowledge-base. Through community outreach, the bank seeks to help adults of all ages understand that it is never too late to gain control of finances and to understand money management principles. Associates are available to present on topics such as fraud and identity theft protection, understanding the cost of living, responsible use of credit, preparing for home ownership, dealing with a layoff and more.
“Now more than ever, financial professionals have a responsibility to help customers, friends and neighbors plan for changes in family income and the economy as a whole,” said Magee. “We are eager to respond to the needs of people in our communities and are proactively seeking opportunities to educate people across the state about finances.”
