• Umpqua Holdings Corporation
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  • Umpqua Bank Teaches Children to Save April 12
    Company Release - 04/11/2011 12:00

    Community Bank Offers Five Tips to Teach Children Financial Responsibility

    PORTLAND, Ore.--(BUSINESS WIRE)-- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), celebrates national Teach Children to Save Day (TCTSD) on Tuesday, April 12. Umpqua associates in Northern California, Oregon, Western Washington, and Nevada will observe the annual event by hosting more than 100 events reaching nearly 6,000 children. Through interactive activities and contests in schools and at Umpqua locations, Umpqua associates will encourage regular saving habits and illustrate the differences between needs and wants.

    Umpqua’s TCTSD efforts are an extension of the bank’s year-round Learn to Earn program, which provides weekly on-campus banking at 143 schools, serving nearly 12,000 student accounts.

    “Given the economic climate, it’s more important than ever that children learn the importance of saving,” said Colleen Toste, assistant vice president/director of the Learn to Earn program for Umpqua Bank. “Umpqua Bank is involved in this effort year-round and we’re especially excited to participate today in this national effort to reach children with money-management lessons that are fun and engaging as well as educational.”

    TCTSD was founded by the American Bankers’ Association and has reached 4 million young people during the past 15 years. Umpqua Bank has participated in the effort through Learn to Earn for 11 years. Umpqua Bank’s Learn to Earn program provides weekly on-campus banking to grades kindergarten through eighth. Using interactive activities, rewards-based learning, and the convenience of banking at school, Learn to Earn motivates children to value the concept of saving and to develop life-long money management skills while having fun.

    Umpqua bank offers the following five tips to teach children to save:

    1. Teach – Teach children why you save and why they should do it too. Use short term examples like grocery shopping and long-term ones like a family vacation.

    2. Decide – Explain the differences between needing something basic to live versus wanting something for fun. Use examples like food for dinner vs. a video game.

    3. Earn – Consider giving an allowance to teach how money is earned. Set specific chores and a date for allowance to be given, and stick to the plan. Give coins or one dollar bills so they can easily be divided for saving, spending, and sharing.

    4. Achieve – Help your child set a goal for saving or something to purchase. This will teach responsibility and reinforce the feeling of accomplishment when the goal is reached.

    5. Save – Open a savings account with your child. Teach them to monitor it through online or paper statements, and accompany them to the bank location for withdrawals and to learn how banks work.

    About Learn to Earn

    Learn to Earn (LTE) was developed in 1996 in Arcata, Calif., to teach children the value of saving money and to encourage lifelong money management skills in kindergarten through eighth grade. The program offers a child savings account designed for students that can be opened for as little as $1.00 and earns interest immediately. LTE uses immediate rewards, games, ongoing events and in-class curriculum to make financial literacy fun and easy to understand. The growing program provides children with the convenience of on-campus banking in more than 143 schools and serves nearly 12,000 student accounts. The program expanded to Oregon in March 2009 and to Washington in January 2010. It was recently acknowledged by the California Governor’s Office and the Department of Financial Institutions for its 15-year commitment to children’s financial literacy. For additional information about LTE, please visit www.umpquabank.com or e-mail learntoearn@umpquabank.com.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 184 locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. For the past five years in a row, the company has been included on FORTUNE magazine’s list of the country’s “100 Best Companies To Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Private Bank Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.

    Source: Umpqua Bank


    Contact:

    LANE PR

    Caitlin Gadoua, 503-546-7878

    Caitlin@lanepr.com