ABA: Bank Volunteers Encourage Saving for the Unexpected on 2021 Teach Children to Save Day

Bank employees across the country will bring financial education to more than 70,000 K-8 students as part of the ABA Foundation’s Teach Children to Save Day on April 22. The annual event is a centerpiece of the banking industry’s longstanding commitment to youth financial education. Since 1997, the ABA Foundation’s financial education initiatives have reached 11.6 million young people through more than 375,000 banker presentations. This year, the banker volunteers will deliver their lessons through a mix of both virtual and in-person classes due to the ongoing COVID-19 pandemic.

In a Teach Children to Save lesson, volunteer bank employees teach students the fundamentals of personal finance through age-specific activities and interactive scenarios. This year, the ABA Foundation rolled out a suite of new resources centered around saving for the unexpected, in addition to its traditional lessons on the basics of saving and distinguishing needs from wants. Some of those news lessons include virtual escape rooms, puzzles and directed drawing activities that reinforce saving strategies and the importance of preparing for unexpected expenses.

“Even a global pandemic can’t interrupt the banking industry’s efforts to ensure that young people have the financial education they need to succeed in a complicated world,” said Rob Nichols, ABA president and CEO. “We are grateful for our bank volunteers and their extraordinary efforts to reach students with these important financial lessons, despite the challenges posed by COVID-19.”

To mark Teach Children to Save Day, Nichols will participate in an interactive, virtual presentation of financial concepts, allowing him to reach 120 students from six classrooms across the country. Working with Nepris, a program that connects teachers and their students with virtual guest speakers, Nichols will present the ABA Foundation’s new lesson plan focused on saving for the unexpected: Saving for a Rainy Day and Ollie’s Unexpected Expense Make a Story supplemental activity.

“If the last year has taught us anything, it’s that you never know what unexpected event is just around the corner,” said Corey Carlisle, ABA Foundation executive director. “That’s why learning to save for a rainy day is a concept that should be introduced early and reinforced often. We appreciate all of our participating banks and their dedicated employees for stepping up to make a difference in the lives of young people.”

More than 367 banks of all sizes and charters have held or plan to hold Teach Children to Save events this year so far. These critical lessons will reach approximately 72,529 students. Click here for the full list of participating banks.

The Teach Children to Save program is generously supported by its national sponsors: Ally Financial, Citi, U.S. Bank and Wells Fargo.

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