For more information, contact Jason Busch
608-441-1237 or [email protected]
Lessons on saving take on new meaning in wake of financial crisis
MADISON – Called the greatest financial crisis since the Great Depression, the “Great Recession” brought with it a renewed emphasis on personal financial literacy and the importance of saving money.
And now, on Tuesday, April 12, bankers across the state of Wisconsin will take that lesson on saving into schools and the community as part of the 15th annual National Teach Children to Save Day.
During the month of April last year, 422 Wisconsin bankers reached out to their communities to make 826 presentations about the importance of saving money in conjunction with Teach Children to Save Day.
Now, this year, WBA is seeking to reach even more young people with lessons in personal finance. Last week WBA received a proclamation from Governor Scott Walker declaring April 12 to be Wisconsin Teach Children to Save Day, on the same day Walker created the Governor’s Council on Financial Literacy. And hundreds of Wisconsin bankers will be joined on their presentations by more than 20 Wisconsin lawmakers and staff from the Department of Financial Institutions (DFI) – including DFI Secretary Peter Bildsten.
“If the economic struggles of the past three years have taught us anything, it’s that you can’t put a price on the value of fiscal responsibility,” said Rose Oswald Poels, interim WBA president/CEO. “There has to be a balance between a culture of spending and one of saving to maintain a healthy, vibrant economy. By teaching children the value of saving at an early age, bankers can help children form sound personal finance skills for life.”
Every year hundreds of Wisconsin bankers participate in events like Teach Children to Save and Get Smart About Credit as part of Bankers Promoting Financial Literacy (formerly the WBA Personal Economics Program) to teach children and adults the money management skills they will need throughout their lives.
The Wisconsin Bankers Association is the state’s largest financial industry trade association, representing 300 commercial banks and savings institutions, their nearly 2,300 branch offices and 28,000 employees.