• Umpqua Holdings Corporation
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  • Umpqua Bank Launches On-Campus Kids' Savings Program, "Learn to Earn," in Oregon
    Program Teaches Kids Important Financial Skills, Marks 100th School and Savings of More Than $2 MillionĀ 
    Company Release - 03/16/2009 11:00

    PORTLAND, Ore.--(BUSINESS WIRE)-- Umpqua 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 on."

    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 responsibly.

        --  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

    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 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 savings balances.

    About Umpqua Bank

    Umpqua 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

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