THE SAVINGS BANK AND FOUR BAY STATE BANKS LAUNCH "COMMON CENTS" FINANCIAL EDUCATION PROGRAM

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 THE SAVINGS BANK AND FOUR BAY STATE BANKS LAUNCH “COMMON CENTS” FINANCIAL EDUCATION PROGRAM WAKEFIELD, June 3, 2015 –The Massachusetts Bankers Association (MBA), The Savings Bank and four other community banks have launched “Common Cents,” a financial education competition with participating high school students from around the state. The program is featured online at www.masscommoncents.com Recorded last autumn, “Common Cents” is a quiz show competition hosted by the Massachusetts Bankers Association and the five bank partners located around the Bay State: The Savings Bank, Bank of America, BayCoast Bank, Cape Cod Five Cents Savings Bank, and PeoplesBank. During the quiz show 80 high schoolers compete for prizes and learn about important financial education concepts and practices along the way. The schools include Lynnfield High School, Lynnfield, Mass.; Wakefield High School, Wakefield, Mass.; Barnstable High School, Barnstable, Mass.; Madison Park High School, Boston, Mass.; Chicopee Comprehensive High School, Chicopee, Mass.; Chicopee High School, Chicopee, Mass.; Natick High School, Natick, Mass.; Gateway to College Program, Fall River, Mass.; and Dennis-Yarmouth Regional High School, South Yarmouth, Mass. “Common Cents” is being introduced to every Massachusetts high school with a guide and special classroom instructions that can also be found on the website. In addition, a video of the program has been sent to public access television stations across the commonwealth, encouraging both students and the general public to engage and embrace the important financial information highlighted in the competition. The 2015 “Common Cents” program, the third of its kind, was produced in support of the Financial Literacy Pilot Program established by the Massachusetts Legislature in 2012. This three-year pilot in 10 high schools in “gateway” cities throughout the commonwealth is designed to test the potential viability of installing required financial education programs in all Massachusetts high schools to provide students the personal finance skills necessary to succeed in life. “Unfortunately, financial education is not currently required in all of Massachusetts’ high schools,” said Daniel J. Forte, president and CEO of the Massachusetts Bankers Association. “The ‘Common Cents’ quiz show provides an effective and engaging opportunity for high school students -- or just about anyone -- to gain valuable financial knowledge, and could serve as a model for some of the subject matter that should be taught in our high schools. This innovative program is a fun way to learn personal finance skills we all need throughout our lives.” “The Savings Bank is happy to partner with MassBankers and other community banks to provide financial education to young adults in a fun and engaging environment,” said Brian McCoubrey, President and CEO of The Savings Bank. “We have a true commitment to providing products, services, and financial knowledge that positions this age group for long term financial success.” Hosted by New England Cable News (NECN) anchor Latoyia Edwards; radio celebrity Ashlee Feldman of JAM’N 94.5; and financial expert Jeffrey Fuhrer, executive vice
president of the Federal Reserve Bank of Boston, the program also features a special guest appearance by Jermaine Wiggins, the former New England Patriot. For more information, and to see the program, visit www.masscommoncents.com The Savings Bank is a Massachusetts mutual savings bank with eight full-service offices located in Wakefield, Lynnfield, Andover, North Reading and Methuen. The Savings Bank is a member of both FDIC and DIF.