April 23 marks annual Teach Children to Save Day
First National Community Bank (FNCB), the largest community bank in Northeastern Pennsylvania, is partnering with John F. Kennedy School, Scranton and Wyoming Valley Montessori, Kingston, to celebrate Teach Children To Save Day on Tuesday, April 23.
More than 100 students will explore savings education lessons with FNCB volunteers, including the difference between needs and wants and the importance of setting savings goals.
Established by the American Bankers Association in 1997, Teach Children to Save has reached more than 5.6 million young people through the commitment of more than 121,000 banker volunteers.
FNCB's participation in the Teach Children to Save program is part of a larger commitment to improve financial literacy in the community. Along with a corresponding credit education program for high school students, FNCB employee volunteers have visited 59 classrooms and 1,400 students during the 2012-2013 school year.
"Our financial literacy programs give us the opportunity to use our life experiences and banking knowledge to motivate students to become lifelong savers and smart users of credit," said Claire Guarneri, community office manager at FNCB's Kingston branch.
FNCB encourages parents to join in the Teach Children to Save effort by utilizing the following tips:
- Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents' personal finance habits.
- Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them - even the tough ones.
- Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
- Open a savings account for your children and take them with you to make deposits. They will learn how to be hands-on in their money management.
- Let friends and family know about your child's savings goal. They'll be more likely to give money for special occasions, which means more trips to the bank.
Founded in 1910, FNCB supports its mission: Simply a better bank(tm) with an endless commitment to the communities they serve. With 21 branches throughout Lackawanna, Luzerne, Monroe, and Wayne counties, FNCB is the largest community bank in Northeastern Pennsylvania leading the way in personal, small business and commercial banking solutions. For more information, visit