• Umpqua Holdings Corporation
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  • Back-to-School: Time to Teach Savings, Too
    Company Release - 09/13/2011 15:18

    Umpqua Bank Kicks Off School Year with Learn to Earn Program, Family Savings Tips

    PORTLAND, Ore.--(BUSINESS WIRE)-- According to a report published by the Center for Social Development, “a child with a savings account is seven times more likely to attend college than one without, regardless of income, race or academic achievement.” Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), is kicking off the 16th school year of its Learn to Earn program with savings tips for families and children.

    Umpqua Bank’s Learn to Earn program provides on-campus savings programs to grades kindergarten through eight. Using interactive activities and rewards-based learning, Umpqua’s Learn to Earn has nearly 150 schools participating throughout the West, currently serving some 11,500 children’s savings accounts.

    “It is never too early to instill healthy financial habits, and with the school year getting underway, it’s the perfect time to start talking about savings education,” said Colleen Toste, Learn to Earn program director for Umpqua Bank. “Umpqua Bank’s Learn to Earn program is designed to educate and encourage children on the value of saving, while having fun in the process. We’re proud to serve as a money-management resource for children and their parents, and we look forward to working with schools throughout our footprint to teach students to save, share and spend wisely.”

    Umpqua Bank Learn to Earn Tips

    Learn to Earn offers online tools, including a Kid’s Savings Planner, designed to help kids do their own budgeting, and a Kids & Savings Blog, which features information from other parents and experts about educating kids on saving today.

    Recognizing the benefits of savings taught early, as identified by the American Bankers Association and others – including lessons in self control and increasing a child’s chances of attending college, 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 versus 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, sharing, and spending.

    4. Achieve – Help your child set a goal for saving for something to purchase. This strategy 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 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 grades kindergarten through eighth. The program offers a child savings account designed just 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 program currently provides children with the convenience of on-campus banking in 143 schools and serves more than 11,500 student accounts. The program expanded to Oregon in March 2009 and to Washington in January 2010. It was acknowledged by the California Governor’s Office and the Department of Financial Institutions for its 15-year commitment to children’s financial literacy. LTE is also recognized as the largest school bank program in the state of California. For additional information about LTE, please visit www.umpquabank.com/learntoearn or e-mail learntoearn@umpquabank.com.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ) with 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. The company has been recognized for the past five years in a row 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 Wealth Management 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


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