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KENNEBEC SAVINGS BANK CARES ABOUT TEEN FINANCIAL LITERACY
Kennebec Savings Bank launched its Financial Literacy Program at Gardiner Area High School today to promote financial education in Kennebec County’s youth free of charge.
As a mutual savings bank, Kennebec Savings Bank created and instituted the Financial Literacy Program after witnessing the consequences of poor financial decisions. The Bank wants to ensure young adults are being provided with the proper tools to succeed in building a healthy financial future.
David Offer, a retired Central Maine Newspaper Executive Editor, recently wrote an article based on recent financial literacy trends. In this article, Offer makes reference to statistical data derived from a national study administered by JumpStart Coalition for Personal Financial Literacy. It was found in a 31 question survey directly related to personal finance, 65% of college seniors were correct and less than half of high school students were correct.
Kennebec Savings Bank’s President & CEO, Mark Johnston, spoke about the institutions’ commitment to helping the young succeed, “We want to make a difference in the lives of Kennebec Valley’s teen population by teaching them what we know. By teaching them what they need to know now, we hope we can inspire them to manage their finances responsibly so they can follow successful paths free of monetary stress and make a positive impact in our communities.”
Earlier this year in March, Kennebec Savings Bank sent out information to all local Kennebec County high schools to invite them to partake in this newly developed Literacy Program. To date, Gardiner Area High School is the only school to take immediate interest.
By utilizing a program called “Money Smart for Young Adults” developed by the FDIC, teens learn money handling skills and are encouraged to establish relationships with financial institutions. Kennebec Savings Bank provides this helpful computerized aid as a foundational component to the Financial Literacy Program. It includes an instructor guide, participant guide, and overhead slides.
The Bank also offers free copies of Don Silver’s “The High School Money Book”, which offers a widespread look at financial matters written specifically for a high school audience. Its easy-to-read format is designed to hold interest.
The third and final piece of Kennebec Savings Bank’s Financial Literacy Program is access to a bureau of qualified bank professionals willing to speak to classrooms about the importance of financial literacy or careers throughout the banking industry.
The Bank hopes the combination of these three different teaching mediums will reach a larger high school base and create impact through the knowledge, skills, and confidence being taught. Kennebec County high schools are encouraged to take advantage of this positive educational experience.
For more information or interest regarding the Financial Literacy Program, please contact Vice President & Marketing Officer, Laura Hudson, at 622-5801.
Kennebec Savings Bank is a $672 million state-chartered mutual savings bank, headquartered in Augusta. With 81 employees, and offices located in Waterville and Winthrop, Kennebec Savings Bank prides itself on being the bank where “the feeling is mutual.”
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