Bank Hosts “Teach Children To Save” Program At Cranford School

(Photo courtesy of Spencer Savings Bank)

(Photo courtesy of Spencer Savings Bank)

CRANFORD – Spencer Savings Bank, a community bank headquartered in Elmwood Park, hosted a savings presentation on May 17 at Livingston Avenue School in Cranford in continued support of Teach Children to Save (TCTS), a national program that organizes banker volunteers to help young people develop a savings habit early in life.

This presentation culminates Spencer Savings Bank’s month-long partnership with TCTS, during which the bank hosted a total of three presentations at local schools throughout its communities, to help foster students’ financial education.

Cranford Branch Manager Vince Spada and Assistant Vice President and Marketing Manager Janel Bazih hosted a presentation for a group of 200 third and fourth grade students at Livingston Avenue School. The bankers discussed a variety of financial concepts with the students, including the importance of differentiating between wants vs. needs, learning to manage allowances and creating a budget. Spencer piggy banks were distributed to each student along with worksheet packets that included money newsletters and certificates for students to sign, pledging to be life-long savers.

“Spencer Savings Bank remains committed to supporting the growth of our communities by promoting financial literacy,” said José B. Guerrero, Chairman, President and Chief Executive Officer of Spencer Savings Bank. “We’re proud to partner with Teach Children to Save each year to help the future leaders of our communities develop the basic foundations upon which they can build financially successful futures.”

Established by the American Bankers Association, TCTS joins students with local bankers who provide lessons on the importance of saving, budgeting, and spending wisely. Although the program’s annually recognized day was celebrated on April 23, 2013 this year, participating banks host lessons throughout the year. Since the program was established in 1997, TCTS has reached more than 5 million students nationwide.

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