PORTLAND, Ore.--(BUSINESS WIRE)--
Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ),
will launch its Learn to Earn program in Oregon with the first on-campus
banking day at Cobb Street School in Roseburg, Ore., on Wednesday, March
18, 8:00 - 8:20 a.m.Cobb Street is Umpqua's first Learn to Earn school
in Oregon and the 100th school overall currently
participating in the program. Learn to Earn provides students in grades
kindergarten through eighth with money management education and
customized child savings accounts.
"The lessons that Umpqua's Learn to Earn program shares with students
are more valuable now than ever, as families across the country face
challenging economic times," said Umpqua Bank president and CEO Ray
Davis. "We are pleased to introduce this program in Oregon and invite
schools throughout Umpqua's footprint to join Learn to Earn as a way to
help their students learn and demonstrate solid financial skills early
Learn to Earn has more than 7,600 active student savings accounts
throughout Northern California, with total balance currently exceeding
$2 million. In the first semester of the 2008 - 2009 school year, active
accounts increased by 13.2 percent.
"Our students are extremely excited to have their very own savings
accounts and to learn how they can help their families by saving,
sharing and spending wisely," said Cobb Street School principal Barb
Beatty. "Children are sharp, and while they are picking up on cues at
home that money is tight, they don't know why or what that means.
Umpqua's Learn to Earn program provides an opportunity to help them
understand what's going on and what it means for their family. It also
gives them a powerful way to contribute."
Kids' Saving and the Recession
The goal of Learn to Earn is to lay the foundation for successful money
management during children's formative elementary years. Below are
suggestions and tips for parents on discussing the recession with their
kids and adjusting spending habits. These suggestions build upon Umpqua
Bank's Learn to Earn principles of saving, sharing and spending money
-- Keep it simple and concrete -Explain what's going on in the economy.
Keep it honest, but simple and appropriate for their age.
-- Provide reassurance -Share examples of how your family is working hard
to keep yourselves financially fit.
-- Reassess allowances -Use this opportunity to teach them about earning
money and require that allowances be earned.
-- Needs vs. wants -Educate children on the differences between "needs" and
"wants" and provide opportunities for them to choose how to use their
-- Downsize -Don't feel guilty about downsizing a child's lifestyle, but
encourage them to be involved in the decision-making process so they
have some control.
Additional information is available from Scholastic
and the Washington
Department of Financial Institutions.
About Learn to Earn
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 100
schools and serves more than 7,600 student accounts. In March 2009, the
program expanded into Oregon and reached $2 million in active student
About Umpqua Bank
Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua
Holdings Corporation (NASDAQ: UMPQ) and has 150 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 has been recognized for the past three years in a row
on FORTUNE magazine's 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