DATELINE (April 26, 2000) – Washington State Treasurer Michael Murphy proclaimed May the Teach Washington Children to Save Month and launched the Spring 2000 Save for Washington Enrollment Initiative, an Internet-based school savings program, at Ilalko Elementary in Auburn, Washington.
Murphy kicked off the Spring 2000 enrollment initiative by helping students with their savings accounts on Bank Day at Ilalko Elementary. Murphy acted as the teller, helping students enter their deposits and check their balances over the Internet. Murphy was assisted by a representative from Columbia Bank, a longstanding Save For America banking partner, and Pam Costi-Smith, principal of Ilalko Elementary.
All young people in Washington need to learn the value of saving for the future and experiencing a sense of accomplishment, said Murphy.Save For America, the only U.S. Department of Education approved school savings program, helps our students prepare for the financial responsibilities we all face as adults.
Murphy also recently proclaimed May as Teach Washington Children to Save Month. During the month of May, SaveForAmerica.org will host its Open Enrollment. Elementary and secondary schools that are interested in the SaveForAmerica.org Program will be able to enroll at www.saveforamerica.org until the end of May.
Students as young as kindergarten age enter deposit amounts into their accounts at participating local financial institutions over the Internet on in-school Bank Days using Websaver. Volunteers collect the money and bring it to a local financial institution for deposit.
Students also learn about money management, interest earnings and the banking system through a financial curriculum approved by the U.S. Department of Education. SaveForAmerica.org displays, and updates daily, the total amount saved by students since the program began.
Established in 1982, SaveForAmerica.org is a Bellevue, Washington-based nonprofit that works with schools and financial institutions in 48 states across the country to help children learn the value of saving, investing and spending wisely.
SaveForAmerica.org has been funded by the U. S. Dept. of Education. Also, like a bank, it transmits electronic debits for its U.S. Savings Bonds for Kids Project via agreement with the U. S. Dept. of the Treasury. In April 2000, SaveForAmerica.orgjoined the National Partners for Financial Empowerment, which was recently formed by the U.S. Department of the Treasury.