Community Bank Offers Five Simple Tips to Teach Children Financial
PORTLAND, Ore.--(BUSINESS WIRE)--
Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ),
joins banks across the nation for National Teach Children to Save Day
(NTCTSD) on Tuesday, April 27. Founded by the American Bankers'
Association, the campaign
has reached 3.4 million young people during the past 13 years.
Umpqua Bank has participated in NTCTSD for 10 years. This year, Umpqua
associates in Northern California, Oregon and Western Washington will
observe the annual event by hosting more than 85 events and reaching
more than 6,300 children through interactive in-school presentations and
contests that encourage regular saving habits and illustrate the
differences between needs and wants. Umpqua's efforts are an extension
of the bank's year-round Learn to Earn program which provides weekly
on-campus banking at 125 schools, serving more than 10,000 student
"This past year has been a challenging one for many families. Children
are learning tough financial lessons through the course of life events.
It's more important than ever that parents and communities take an
active role in teaching children how to save," said Colleen Toste,
assistant vice president/director of the Learn
to Earn program for Umpqua Bank. "Umpqua Bank is proud to be
a part of this educational effort and serve as a year-round resource for
adults and children to learn money-management skills."
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
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 125
schools and serves more than 10,000 student accounts. In March 2009, the
program expanded into Oregon and reached $2 million in active student
savings balances. The program was recently acknowledged by California
Governor Arnold Schwarzenegger and the Department of Financial
Institutions for its 14-year commitment to children's financial
literacy. LTE is also recognized as the largest school bank program in
the state of California.
About Umpqua Bank
Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua
Holdings Corporation (NASDAQ: UMPQ) and has 176 locations between San
Francisco and Seattle; 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,
The New York Times, BusinessWeek, Fast Company and
CNBC. The company has been recognized for the past four 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
Private Bank Division serves high net worth individuals and
non-profits 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