New materials will help banker volunteers lead virtual and in-person lesson plans for their communities
The American Bankers Association Foundation today launched its 2021 financial education campaign and called on America’s banks and their more than two million employees across the nation to participate in this innovative, industry-wide effort to promote consumer financial readiness.
This year, the ABA Foundation will offer three specific programs that allow banker volunteers to deliver critically important financial education in their local communities:
“At this moment of challenge for so many Americans, it’s more important than ever for people of all ages to have the financial skills they need to navigate an uncertain future,” said Rob Nichols, ABA president and CEO. “These ABA Foundation programs give bank employees across the nation the chance to make a real difference in their communities. I encourage every banker and bank in the country to participate this year.”
The ABA Foundation’s signature initiative, Teach Children to Save, which launched in 1997, is a national campaign that encourages bankers to visit schools or youth groups in their local communities to introduce or augment learning about money and real-world financial concepts. This year, amid the ongoing pandemic, the ABA Foundation bolstered its Teach Children to Save program materials, adding in various virtual lesson plans and activities that center around saving for the unexpected. Some of those new resources include:
- Saving for a Rainy Day lesson plan and accompanying coloring sheet;
- Savings jar labels that students can color and customize to help encourage savings;
- Make A Story – a personal finance-focused spin on Mad Libs that can be leveraged during virtual presentations;
- Unlock Savings – a virtual escape-room style challenge in which students decipher clues and learn savings strategies along the way; and
- An interactive puzzle where students solve for phrases around unexpected savings.
Teach Children to Save Day will be celebrated on April 22, but bankers can hold their lessons throughout the year.
In addition to its new youth financial education materials, the ABA Foundation also expanded its suite of resources to support elders and financial caregivers as a part of its Safe Banking for Seniors program.
Safe Banking for Seniors, led by banker volunteers nationwide, helps older customers, their families and caregivers understand and mitigate the risks of fraud and financial exploitation. New to this year’s programming are financial caregiving resources that center on understanding powers of attorney and choosing an executor, including:
- Presentation slides on both topics for in-person and virtual workshops;
- Instructional guides that teach bankers how to lead the presentations;
- Various worksheets on topics including choosing a power of attorney, summary of financial accounts, assembling important records, and evaluating potential executors; and
- Quick reference handouts that provide an overview of both financial and health care powers of attorney, the four different types of powers of attorney and their limitations, as well as probate vs. non-probate assets.
“The ABA Foundation is committed to ensuring banker volunteers are equipped with engaging and highly relevant materials whenever they participate in one of our financial education programs,” said Corey Carlisle, executive director, ABA Foundation. “We are excited to introduce these new program resources that help address some of the most important financial issues facing consumers of all ages today.”
The ABA Foundation also organizes Get Smart About Credit, another national initiative that encourages bankers to present teen and young adult audiences with information that will put them on a sound financial path. While it’s celebrated in October, bankers are encouraged to give presentations throughout the year.
Curriculums for all three programs are available in both English and Spanish. Bankers registered for ABA Foundation programs will receive real-time customer support, program and communication materials. The ABA Foundation also offers a free web connection tool, FinEdLink, that can match community groups, senior centers and schools with local bank volunteers available for a lesson. Groups interested in having a banker make a presentation can simply submit a free request at aba.com/FinEdLink to be paired with a local volunteer.
Since 1997, the ABA Foundation’s financial education initiatives have reached 11.1 million young people through more than 350,000 banker presentations. The ABA Foundation encourages bankers across the country to participate in these industry-wide initiatives in addition to individual financial education and philanthropic efforts carried out every year by America’s banks.
This year, the ABA Foundation’s financial education programming is generously sponsored by Ally Financial, Bank of America, Citi, JPMorgan Chase, Truist, US Bank and Wells Fargo.
Interested banks should register at aba.com/FinEd or call 1-800-BANKERS for more information.