Banks Celebrate National Teach Children to Save Day Throughout Oregon.

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SALEM, Ore.--(BUSINESS WIRE)--April 10, 2003

Banks throughout the State of Oregon are celebrating National Teach Children to Save Day (NTCTSD) today, April 10. The national celebration has been acknowledged in Oregon with a proclamation issued by Governor Theodore Kulongoski as follows:

WHEREAS saving is vital to the financial security of families and future generations; and

WHEREAS education on financial issues at an early age is an important first step toward lifelong awareness of the value of personal saving; and

WHEREAS increased saving will also provide investment capital to keep the American economy globally competitive and help maintain our national standard of living; and

WHEREAS the saving ethic has always been an esteemed part of the American character, with its strong emphasis on economic independence and self-sufficiency.

NOW, THEREFORE, I, Theodore R. Kulongoski, Governor of the State of Oregon, hereby proclaim April 10, 2003 to be Teach Children to Save Day in Oregon and encourage all Oregonians to join in this observance.

Oregon banks view NTCTSD, sponsored by the American Bankers Association Education Foundation and the Oregon Bankers Association, as an opportunity to connect with youth and help them build a financial future. Dozens of banks around the state are celebrating the day with special events such as presentations at local schools and community centers on the concept of savings, how interest makes money grow, and how to budget and determine needs and wants.

For example, Community Bank, headquartered in Joseph, Oregon, has opted to participate in NTCTSD by visiting kindergarten, first and second grade classrooms in Wallowa, Union and Baker counties to read students the Berenstain Bears' Trouble With Money book. According to Julie Stein, training officer at Community Bank, "The book is fun and colorful while teaching children the importance of saving and how banks pay interest." (See attached photo of Stein participating, along with co-worker Sue Wagner, in NTCTSD with teacher Janice Keffer's first-grade class in Enterprise, Oregon.)

US Bank, which has 192 branches in communities all throughout Oregon, is observing NTCTSD with K-12 classroom presentations in more than 100 schools this week. Multiple presentations will be given at several schools. "Our goal was for each branch to do at least one seminar," said Barbara Smith, Vice President and Community Reinvestment Officer for US Bank in Portland. "US Bank has a strong commitment to each of the communities that we serve, and we are especially dedicated to reaching schools that serve low and moderate income students."

NTCTSD is one of many ways that Oregon banks promote financial literacy throughout the year. In addition to the individual involvement banks have with their local schools, the Oregon Bankers Association is active in promoting financial literacy through various educational programs on adult money management, homeownership, and fraud prevention. In cooperation with various state agencies, the Oregon Bankers Association has been recognized as a pioneer in banker and consumer education on preventing and detecting financial abuse of the elderly.

"Whether it is direct financial support or the volunteer support of bank employees, there are countless examples of how Oregon banks give back to their communities every day," said Tom Perrick, President & CEO of the Oregon Bankers Association. "Teach Children to Save Day is a great opportunity to focus these efforts on the growing need for financial education. Studies have shown that children today aren't learning basic money management skills."

According to a recent Youth and Money Survey, the majority of students ages 16-22 have never taken a personal finance class. "Without financial education, young people will learn about money from the school of hard knocks," said Lynda L. Glass, chairman of the ABA Education Foundation and senior vice president of banking services for Adams County National Bank in Gettysburg, PA. "As an industry, it is in our best interest to educate youth because today's school child is tomorrow's customer. An educated customer makes smarter financial choices."

Established in 1905, the Oregon Bankers Association is a trade association of state and nationally chartered commercial banks, extra-national banks, savings institutions, thrifts and trust companies chartered to do business in Oregon.

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