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  • Umpqua Bank Reaches out to Nearly 7,500 Children for National Teach Children to Save Day
    Local Umpqua Bank Stores and Associates Prepare Students to Lead Healthy Financial FuturesĀ 
    Company Release - 04/28/2008 13:32


    Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), joins more than 10,000 bankers nationwide in celebrating National Teach Children to Save Day (NTCTSD) Tuesday, April 29. Founded by the American Bankers' Association Education Foundation, NTCTSD was designed to educate youth about the importance of saving.

    Umpqua Bank stores and associates throughout Northern California, Oregon and Western Washington will observe the annual event by hosting bank field trips, providing interactive on-campus presentations and sponsoring educational contests aimed at illustrating the differences between needs and wants. Umpqua has participated in the event for the past five years. This year, the company will share financial literacy lessons with nearly 7,500 students from more than 50 elementary schools, preschools and youth organizations.

    In addition, Umpqua Bank's Learn to Earn program provides ongoing, weekly opportunities for children to save in 84 schools. Established in 1996, the program is the largest school bank program in California, offering the convenience of on-campus banking to kindergarten through eighth grade students. Learn to Earn educates children about the value of saving money and encourages life-long money management skills using fun and interactive activities.

    Five Tips to Help Children Save

    In an effort to extend money saving lessons beyond NTCTSD, Umpqua Bank offers the following tips for teaching children about money:

    1. Offer An Allowance -- Learning about money is easier to understand when children have money to manage. Allow children to earn an allowance and then work with them to allocate their funds into three categories: money to share, save and spend.

    2. Watch Their Savings Grow -- Encourage children to keep their money somewhere they can see their savings grow, such as glass jar. When the time is right, help them open a savings account and work with them to track the interest they earn on their money.

    3. Coach Smart Spending Decisions -- Active learning requires trial and error. With adult supervision, allow children to make basic purchasing decisions. When mistakes occur, take advantage of the opportunity to talk through purchasing decisions and the value of money.

    4. Demonstrate Credit Basics -- When using a credit card in a restaurant or store, take time to teach children the basics of how credit cards work, including the positives and the negatives. Follow up by engaging them in the monthly credit card bill paying process.

    5. Set Goals -- Setting goals together helps children learn the value of money and saving. For example, when planning a family vacation, talk about the saving requirements for that vacation as a family. Establish financial goals for each child based on their desired vacation activities and then work with them to track their overall progress.

    About Learn to Earn

    Learn to Earn (LTE) was developed in 1996 in Arcata, Calif., to teach students in grades kindergarten through eight the value of saving money and to encourage life-long money management skills. The program offers a savings account designed just for students that can be opened for as little as $1.00 and earns interest immediately. Combining rewards, games and ongoing events, LTE provides children with the convenience of on-campus banking in 84 schools and serves more than 6,000 student accounts.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 147 locations between Napa, Calif. and Bellevue, Wash., along the Oregon and Northern California Coast and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including the Wall Street Journal, New York Times, BusinessWeek, Fast Company and CNBC. The company, recognized for the second year in a row, ranked 13th on Fortune Magazine's 2008 list of the country's "100 Best Companies To Work For." Umpqua Holdings also owns retail brokerage subsidiary Strand, Atkinson, Williams & York Inc., which has locations in Umpqua Bank stores and in dedicated offices throughout Oregon and Southwest Washington. Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com/.

    Source: Umpqua Bank

    Contact: Media contacts: Umpqua Bank Nicole Stein, 503-727-4130 NicoleStein@umpquabank.com or LANE PR Eve Callahan, 503-546-7867 Eve@lanepr.com