Bank of Lancaster/Virginia Commonwealth Bank recently participated in the national “Teach Children to Save Day” program.
The event is sponsored by the American Bankers Association’s Educational Foundation and the Virginia Bankers Association. The program provides an opportunity for banks to partner with their local schools and share with students tips on how to spend and save wisely, reported senior vice president and consumer education director Hazel Farmer.
“This year ‘Teach Children to Save’ is celebrating its 20th anniversary and we have been proud to be a part of the program since it began,” said Farmer. “During the month of April, we were pleased to present the program to almost 400 elementary students here in the Northern Neck.
“Over the years we have had the opportunity through this program and through our partnership with our local schools to help thousands of young students here in our Northern Neck discover the joys and rewards of saving for something special, as well as understanding the difference between a want and a need.
“The program is designed to give students practical training on how to develop the know-how needed to manage their money. As community bankers, we want to help young people achieve a sound financial future. Tweens are a prime consumer target group and we’re doing what we can to help these elementary students learn how to make good decisions when they reach their tween years. If these good savings habits can be learned early, it will help them become wiser money managers and help them from making poor financial decisions as young adults that could take years to overcome,” she said.
“We are proud to again this year participate in this special program and we thank our local elementary schools and teachers for allowing us to come to the classrooms and share this program,” added Farmer.