Spencer Savings Bank Hosts “Teach Children to Save” Program at Garfield’s Elementary School #5

Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., hosted a savings presentation on May 2, 2013, at Garfield Elementary School #5 in Garfield, N.J., 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.  Spencer Savings Bank has partnered with TCTS to host a total of three presentations at local schools throughout its communities this month, to help foster students’ financial education.

As part of the bank’s month-long participation in TCTS, Teresa Noa (Garfield Branch Manager), Agnieszka Fila (Garfield Branch Staff) and Anita Guerrero (Marketing Assistant) hosted a presentation for a group of 100 third and fourth grade students. The bankers discussed a variety of financial concepts with the students, including the importance of differentiating between wants versus 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.

“We are proud to lend our resources in a fun yet informative way to help young students make smart and educated decisions early on in their lives,” said José B. Guerrero, Chairman, President and Chief Executive Officer of Spencer Savings Bank.  “Participating in the Teach Children to Save Program is a great way to foster important money management skills among the young people in our communities and guide them as they go on to become future leaders.”

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.

In continued support of TCTS, Spencer Savings Bank is hosting a presentation at the Livingston Avenue School in Cranford, N.J., on May 17, 2013. The Bank kicked off Teach Children to Save Day on April 23, 2013, by hosting the program for students at Clifton Elementary School #1 in Clifton, N.J.

For more information on TCTS and the bank’s other community service activities, or to learn more about Spencer Savings Bank, please visit www.spencersavings.com.

About Spencer Savings Bank

Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 70 years.  The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey.  Spencer Savings Bank has over $1.8 billion in total assets.

About American Bankers Association

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $14 trillion banking industry and its two million employees. Learn more at aba.com.