Ogden, Utah, April 18, 2013
Bank of Utah Volunteers Help Teach Nearly 1,000 Kids About Real-Life Financial Responsibility for Financial Literacy Month in April and Beyond
April may be financial literacy month, but Bank of Utah employees have been volunteering year round to make sure local students understand the importance of earning, budgeting and saving money. The bank has provided volunteers to support such programs as the American Bankers Association’s “Teach Children to Save” at local schools, “Money Matters” at local Boys and Girls Clubs and “Reality Town” in partnership with the YMCA. The bank estimates that nearly 1,000 school students have been reached through their recent financial literacy efforts.
Six Bank of Utah employees have been teaching one -hour “Money Matters” classes every Thursday at the Ogden Boys and Girls Club from February 1 – April 24, 2013. The bank employees also taught the same financial concepts to youth at the Roy Boys and Girls Club, Oct. 4, 2012 – Jan. 10, 2013. The bank estimates that more than 240 children have received instruction through this effort and the bank donated 25 volunteer service hours. The final “Money Matters” class, which will cover goal setting, will be taught at 4 p.m. on April 24, at the Ogden club, 127 24th Street.
The community bank also estimates that 250 children have received financial literacy lessons through the YMCA’s “Reality Town” events at Mount Ogden and Mound Fort middle schools. Four bank volunteers visited the schools and gave all the ninth grade students play money to spend on real-life options at different stations that represented needs such as housing, utilities, transportation, groceries and clothing, and wants such as electronic devices. Bank volunteers then counseled students on how to budget their money and save up to make important purchases.
Another great course, “Teach Children to Save”, has reached 400 school children thus far in 2013, and 1,000 students in 33 school rooms in 2012 through Bank of Utah’s efforts. The ABA’s curriculum can be adapted for children from elementary school through high school, and is meant to prevent debt in future generations. The 45-minute lessons teach the difference between wants and needs, using simple lessons such as giving children candy and the choice to eat it immediately or save it for later and receive interest. Bank of Utah officers, branch managers and lenders all volunteer to teach these courses. Additional “Teach Children to Save” classes will be taught at two schools in Weber and Davis Counties in April and May.
“Bank of Utah believes in teaching children about the value of savings and budgeting while they are young so they can make smart money decisions throughout their lives,” said Craig Roper, Bank of Utah senior vice president and chief deposit officer. “That is why we continue to invest our employees’ work time, to set our children on a course for financial stability and wealth.”
About Bank of Utah
Bank of Utah, which recently marked 60 years in business, was founded and organized by Frank M. Browning, an Ogden business executive. The bank officially opened for business on December 1, 1952 with 16 employees, and has grown to over 300 employees and $750 million in assets. The bank currently has 13 full-service branches along the Wasatch Front, mortgage offices in South Towne, Price, Logan, St. George and South Jordan and corporate trust teams in Ogden and Salt Lake City. Bank of Utah offers personal banking, business banking, home lending, trust management and investment services. For more information call 1-800-516-5559 or visit www.bankofutah.com.