While schools may be closed due to COVID-19, bankers across the country are finding new and innovative ways to share the Teach Children to Save program this year, including virtual financial education lessons for children across the nation. Since 1997, the ABA Foundation’s financial education initiatives have reached 11.1 million young people through more than 350,000 banker presentations.
In a Teach Children to Save lesson, volunteer bank employees teach students the fundamentals of personal finance through age-specific activities and interactive scenarios. The lessons cover the basics of saving, as well as how to make choices and distinguish wants from needs.
“While this year’s Teach Children to Save lessons may take place outside the classroom, our nation’s banks are more committed than ever to reaching students with this incredibly important information using virtual and online tools,” said Rob Nichols, ABA president and CEO. “By introducing students to financial concepts early and often, we better prepare them to navigate the many, and often challenging, financial situations and surprises that life can throw at you.”
To mark Teach Children to Save Day, Nichols will participate in an interactive, virtual presentation of financial concepts, allowing him to reach children across the country. Working with Nepris, a program that connects teachers and their students with virtual guest speakers, Nichols will present basic personal finance concepts, including spending, saving, financial decision making and tracking your money. He will use visuals and other props to illustrate the content and keep students thinking critically throughout the lesson. Schools and educators interested in registering for the lesson can click here.
The ABA Foundation will host a webinar on April 22 outlining how to adapt Teach Children to Save for virtual lessons as bankers continue their efforts to bring personal finance into their communities. Bankers interested in registering for the webinar can click here.
“America’s banks remain committed to sharing the value of financial literacy with their communities,” said Corey Carlisle, ABA Foundation executive director. “We’re proud of their incredible innovation to adapt during this crisis, ensuring students continue learning critical financial skills that will help them make smarter financial decisions now and in the future.”
More than 280 banks of all sizes and charters have held or plan to hold Teach Children to Save events this year so far. Click here for the full list: Bank Participation List.
The Teach Children to Save program is generously supported by its national sponsors: Ally Financial, Citi, U.S. Bank and Wells Fargo.