on Thursday, March 30, 2017
Northwest Bank employees are truly committed to the communities we serve and it’s our privilege as bank leaders to have the opportunity to share our knowledge and teach our youth the value of becoming lifelong savers. We encourage financial responsibility at a young age, which in turn will strengthen and maintain our thriving communities for years to come. Teach Children to Save celebrated 20 years this April and we thoroughly enjoyed celebrating with them!
The educational presentation involves bankers teaching students financial skills through activities, interactive scenarios and sharing real-life experiences. The lessons cover the basics of saving, how interest makes money grow, how to create a budget and how to distinguish needs from wants.
The ABA Education Foundation’s Teach Children to Save Program includes thousands of bankers who increase financial literacy through hands-on learning and raise awareness about the important role that banks and bankers play in helping young people develop lifelong saving habits. Since 1997, the program has reached over 7 million children.
Northwest Bank was able to educate over 2,300 students this year. We are truly passionate about educating our youth about financial literacy.
2017 POSTER CONTEST WINNERS!
We encouraged our local youth to get inovlved with the importance of saving money. 2nd-6th Grade students wre invited to show off their creativity and design a poster to answer the question, "Why is it important to know about money?" - Check out our awesome winners!
1st Place - Aracely from Estherville
2nd Place - Tava from Spirit Lake
- 2016 – Hailey Hanson, a sixth-grader attending ELC School, has won 1st Prize in the "What do you know about money" Poster Contest.
- 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.
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.”
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!
Check out the above video of our local students who were a Top 5 National Finalist in the 2015 Camera Save Video Contest!
Click Here to Learn More About Lights, Camera, Save
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.