on Thursday, March 30, 2017
Northwest Bank is proud to participate with area schools to celebrate Teach Children To Save Day with savings education. During Teach Children to Save, local youth explore how to develop a savings habit early in life, learn the difference between needs and wants, and learn how to identify expenses. In 2016, Northwest Bank taught over 1,900 students during the American Bankers Associations Teach Children to Save program!
Established by the American Bankers Association in 1997, Teach Children to Save has reached 7.5 million young people through the commitment of 210,000 banker volunteers.
Check Out Our Teach Children to Save Highlights:
2016 Poster Contest Winner!
ESTHERVILLE, IOWA – Hailey Hanson, a sixth-grader attending ELC School, has won 1st Prize in the "What do you know about money" Poster Contest. As the Grand Prize winner, Hailey received a $600 Certificate of Deposit. Hailey’s poster was submitted for judging by Northwest Bank in Estherville. Cody Newgard and Andrea Nelson from Northwest Bank presented the award to Hailey during a general assembly presentation at her school on May 26, 2016.
2013 - Northwest Bank congratulated area fourth grader on winning Honorable Mention in the Poster Contest. Northwest Bank visits local schools each year to present the opportunity to participate in this poster contest as part of National Financial Literacy Month held in April.
Lights, Camera, Save Video Contest!
This competition encourages young people to use video to communicate the value of saving and inspire others to become lifelong savers. These entry winners were submitted via Northwest Bank.
- In 2015, the Okoboji High School Digital Media Productions Class was selected as a top 5 National Finalist in the American Banker Associations’ Lights, Camera, Save! Video Contest.
- In 2013, the Iowa Bankers Association announced that the video entry submitted by the Okoboji High School Digital Media Productions Class was selected as the winner of the first ever Iowa Lights, Camera, Save! video contest! In addition, they were selected as one of the 8 finalists in the American Bankers Association’s (ABA) national Lights, Camera, Save! video contest!
Click Here to Learn More About Lights, Camera, Save
Did you know?
In 2012, the American Bankers Association asked its fans to help name the Teach Children to Save Day (TCTS) logo Pig. Thanks to our very own Jill Thielen, VP-Commercial Banker in Des Moines, the new name of the TCTS Day pig is STASH. Thielen also came up with an acronym for Stash: Start Today And Save Huge.
“Financial capability is the combination of attitude, knowledge, skills, and self-efficacy needed to make and exercise money management decisions,” said Greg Post, President and CEO “Through this program we can motivate students and instill positive habits at a young age, creating a community of lifelong savers.”
Northwest Bank offers the following tips for money-savvy parents raising money-smart kids:
- 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. Share this roadmap to financial responsibility with your kids.
- 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. See this list of eight ways to talk openly with your kids about saving money
- 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, so they can 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 cash for special occasions, which means more trips to the bank.
- Engage your community. Many schools, banks and community organizations share your commitment to creating a money-savvy generation. Engage a coalition of support to provide youth with the education they need to succeed.