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Why Save For America?

By the time Young Americans finish college, 83% will already owe an average credit card balance of $2,327*. Save For America is designed to reverse this alarming youth trend by providing children with regular savings experiences at an early age. The emphasis is in making school savings beneficial for students, educators, volunteers and Financial Institutions, so that children can 'learn by doing', over the long-term.

*Nellie Mae, April 2002

Top 5 Reasons to Save For America
Articles and Press Coverage
Credentials and Accolades
Quotes and Testimonials

Top 5 Reasons to Save For America

1. Save For America is the ONLY school savings program validated by the U.S. Department of Education's National Diffusion Network as a National Model.

"As students learn more about the value of saving, they will have the opportunity to work with their parents in setting goals and gaining the good financial management habits they need to plan well for the future." 
Richard W. Riley, Secretary, U.S. Department of Education 

2. Save For America is designed to reverse the growing youth debt trend by creating a new generation of saversT.

  • FACT: Average Deposit Amount $6.93
  • FACT: Average Deposit Frequency 61%

3. Parents and educators APPRECIATE the effort to help their children learn to save-a life skill that most schools can't fit into the curriculum. 

"We think everybody needs to be more active in the educational process. If it helps the schools and the teachers, well then that's even better."
Chevis Swetman, Chairman & CEO, The Peoples Bank, Biloxi, MS, THE MISSISSIPPI BANKER, October 2001  

4. Save For America is often used as a supplemental, extra-curricular program. This helps improve schools' math proficiency test scores without requiring any class time!

"It's (Save For America) a good learning experience for my daughter's math skills and to learn about saving."

--Laurie Webster, Parent
--Article: "Student Bankers", Middletown Press, 1-30-2002 

5. Students may open and fund accounts with 1 Partner Financial Institution or with many!
--Article: North Iowa Community School, BUFFALO CENTER TRIBUNE, 3-17-2004
--Article: Money Smart Kids - The Herald Press - 1-4-2004.pdf

Articles and Press Coverage

Recent Articles
Recent Press Releases

Recent Articles

Record Journal CT, "It's a lesson these students can bank on" January 16, 2005 PDF Format
Record Journal CT, "It's a lesson these students can bank on", January 16, 2005 - On the first Thursday of every month Strong School is turned into a bank. Like a traditional bank there are tellers, and students, like their parents, come up to either one of the windows to do their banking.

Hartford Courant, "Student Savings Plans Bank on Future", January 18, 2005 PDF Format
Hartford Courant, "Student Savings Plans Bank on Future", January 18, 2005 - Bank's Program in Schools Brings Both Profit and a Deposit of Goodwill...

North Iowa Community School, BUFFALO CENTER TRIBUNE, March 17, 2004
North Iowa Community School, BUFFALO CENTER TRIBUNE, March 17, 2004 - Superintendent and Elementary Principal Larry D. Hill has a little less weight in his wallet these days. Supt. Hill recently challenged his elementary students to add to their savings accounts...

Money Smart Kids - The Herald Press - January 4, 2004.pdf
Money Smart Kids, The Herald Press, January 1, 2004 - Parents who are searching for ways to teach their elementary school student the value of a dollar...

"Student Bankers", Middletown Press, January 30, 2002
Student Bankers, Middletown Press, January 30, 2002 - Children brought envelopes filled with money to school Tuesday morning to make their first deposits into the school savings account..." 

NYPOST.com Children's Express, Wednesday, November 15, 2000
NYPOST.com Children's Express, November 15th, 2000 - A lot of people think that children spend money as soon as they get it. This may be true for some young people but not for nine-year-old twins Gabriel and Dylan Greene...

CDA Press Article, Wednesday, October 4, 2000
CDA Press Article, Wednesday, October 4, 2000 - Bank opens accounts for the children...

Seattle Times Article, Saturday, October 31, 1998
Seattle Times Article, Saturday, October 31, 1998 - How money grows - Whether your school has a savings program or your child opens an account at a local bank, the money can build. Here's what the "How to Make a Million Calculator," at ...

Seattle Times Article, Saturday, October 31, 1998
Seattle Times Article, Saturday, October 31, 1998 - School bank days teach students about money - The children come to school with a handful of pennies, a quarter, sometimes a couple of dollars or a check made out for a week's allowance...

Recent Press Releases

SFA partners with 401kidz.com, Wednesday, November 22, 2000
SEATTLE and BELLEVUE, Wash., November 22nd, 2000 - This holiday season, instead of kids trading Pokemon cards, why not trade shares of Cisco, Microsoft and AT&T? Bellevue-based Save For America®, a national Internet-based save-at-school program has announced a partnership with Seattle-based IFSG, Inc. to offer a long-term stock investing program designed for kids...

Olympic Event, Wednesday, May 17, 2000 PDF Format
DATELINE (May 17, 2000) - Washington State Treasurer Michael Murphy has proclaimed May the "Teach Washington's Children To Save Month" and is promoting the Spring 2000 Save for Washington Enrollment Initiative, an Internet-based school savings program, at Olympic Elementary in Longview, Washington...

Ilalko Event, Wednesday, April 26, 2000 PDF Format
DATELINE (April 26, 2000) - Washington State Treasurer Michael Murphy proclaimed May the "Teach Washington's 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...

SFA Month, Saturday, April 1, 2000 PDF Format
OLYMPIA, WA.(April X, 2000) - Washington State Treasurer Michael Murphy has proclaimed April "Teach Washington's Children To Save Month" to encourage families, schools and financial institutions to educate Washington's youths about saving for their future...

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Credentials and Accolades

Department of the Treasury
NPFE Letter from Secretary Summers
Commission on Savings and Investment
U.S. Department of Education
Journal National Partnership Awards

Department of the Treasury
".through a Memorandum of Agreement with the Bureau of Public Debt, is (SFA) charged with the responsibility of implementing an innovative educational program that will all America children to purchase U.S. Savings Bonds on the Internet. They will be able to develop the savings habit by making regular deposits from their schools directly into their savings accounts at local banks."."Save For America is the only U.S. Department of Education approved national school savings program.".(In reference to our Chairman) "As Honorary Chairman of the National U.S. Savings Bond Campaign, I would appreciate it if you would extend [her] the assistance and cooperation she needs to create a new generation of savers in your state."
Mary Ellen Withrow, Treasurer of the United States, Honorary Chairman, U.S. Savings Bond Campaign

NPFE Letter from Secretary Summers
".thank you for joining the national coalition - the National Partners for Financial Empowerment (NPFE)." "Together we hope to improve personal savings and financial empowerment for all Americans. Your commitment to the partnership will bring greater visibility and depth to the importance of financial literacy and access nationwide."
Lawrence H. Summers, Secretary of the Treasury

Commission on Savings and Investment (CSIA)
Best Business and Community Partnership Program in the United States, April 1995

Presented April 4, 1995 at the National Press Club in Washington, D.C. by the Commission on Savings and Investment in America to Save For America for the Best Business and Community Partnership Program in the United States 1994.

U.S. Department of Education
"I am pleased to send my personal greetings in recognition of your support of the "Save For America" Program."."As students learn more about the value of saving, they will have the opportunity to work with their parents in setting goals and gaining the good financial management habits they need to plan well for the future."
Richard W. Riley, Secretary, U.S. Department of Education

Award of Excellence, 1992 Partnerships in Education, Journal National Partnership Awards
"I am asking America's younger citizens to help lead the way in my campaign to SAVE FOR AMERICA by signing up for a savings account at school. The support of America's parents, bankers, educators, and adult volunteers combined with the enthusiasm of youth will ensure the success of this important campaign. America will be reinvigorated with improved productivity and our citizens will be rewarded for their thrift with a better quality of life for all Americans."
George Bush, Former President of the United States

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Quotes and Testimonials

Volunteers
Parents/Kids
Educators
Sponsors
Government Officials

Volunteers

"It's great that the kids can put in from a penny to whatever. Save for America gives all kids an opportunity to save."
Sue Zeller, Volunteer, Harrison Elementary School, Cottage Grove, Oregon

"We have thoroughly enjoyed the Save for America program at Ilalko Elementary! Our PTA parents and our teachers were excited and supportive from the very beginning .we wanted our children to learn the same saving practices that banking taught us. .the use of the Internet to record the deposits.is helping teach our kids about the new era in banking technology."
Teresa Sidlowski, Parent Volunteer, Auburn, Washington

"The kids think that the best part of making a deposit are the treats they receive. Soneday they will realize the treats were a very small part of what they have gained."
Dawn Harder, Parent, AHST Elementary School

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Parents/Kids

"Too many kids graduate from school and don't know how to manage money. You can't start these lessons too soon. They will have to do this all their lives."
Roxie Watson, Parent, Texas, Dallas Morning News, October 2000

"I got tired of using the push mower and decided to save up for a rider."
Christopher Clemo, Saver, Oregon, ABA Education Foundation Newsletter, Summer 1998

"It's not too hard for me to do.I know where to add my numbers in my savings registers. And I know how to add my account."
Gabriel Greene, Saver, Children's Express/NYPost.com, November 2000

"It's important because I need to know to save money so when I grow up I can use it the right way. You should save up all the money that you need and you should give some of the money for the kids in America that need more money."
Dylan Greene, Saver, Children's Express/NYPost.com, November 2000

"It's not how much they put in that's important, but that they have fun."
Ann Siebert, personal banker/parent, Sterling Savings Bank, CDA Press.com, October 2000

"My daughter lays her money all over the house. She puts $5 in one purse and then forgets where she puts it. the program is a great idea."
Bobbi Wilson, parent, Washington, The Daily News - Longview, June 2000

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Educators

"Delight Valley Elementary is pleased to be a part of Save for America through Siuslaw Valley Bank. A large number of our students participate in this wonderful program and learn the importance of a consistent, diligent savings plan. They are learning they can set goals and achieve them."
Ali Nice, Principal, Delight Valley Elementary School, Cottage Grove, Oregon

"Ilalko Elementary School is proud to be a part of Save for America through Columbia Bank. Many students of all ages participate in this worthwhile program. Students are learning the value of establishing a savings plan and watching it grow."
Pam Costi-Smith, Principal, Ilalko Elementary School, Auburn, Washington

"The A-H-S-T Elementary Staff of Avoca appreciates the positive working relationship we have with Midstates Bank in teaching our children to save. In education we promote life-long learners. With the Save for America program, we are promoting life-long savers."
Barb Olson, Principal, A-H-S-T Elementary School, Avoca, Iowa

"It's an awesome program because kids are learning to be responsible and how to save their money. We're trying to work it into our curriculum. They're learning all about addition, subtraction and how to do balances. Banking works with many different categories."
Monica Ashley, Teacher, Rogers Elementary School, Frisco, Texas, Dallas Morning News, October 2000

"Save For America helps the students learn how savings accounts work and gives them a real world perspective as to why math is important."
Quote from Lane County school superintendent in a local paper, ABA Education Foundation Newsletter, Summer 1998

"Children learn about money, practice their math skills, and have fun at the same time!"
National Association of Elementary School Principals, Student News Today, Fall 1997

"It doesn't matter what they bring in. they can bring in a quarter a week. Our whole purpose is trying to teach kids the concept of savings, so that they'll grow up thinking about it."
Karen Acker, Principal, Olympic Elementary School, Washington, The Daily News - Longview, June 2000

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Sponsors

"It hardly seems like ten years have passed since our first Bank Day and twelve since we first discussed SFA at the Principal's Roundtable. The island's student bankers have certainly gained a great savings habit and a solid start towards financial literacy. The student bankers that have been a SFA weekly banker since Kindergarten and continued right through to their eighth grade graduation and have been either a SteadySaver or SuperSaver are recognized on a state level through our Massachusetts state Treasurer's office with Citations....Thank you for providing a vehicle that is so user friendly, educational and supported. I look forward to another successful school "Bank Day" year." 
Patti Leighton, Treasurer, Martha's Vineyard Co-operative Bank, Massachusetts

"Teaching children about Save for America at such a young age helps them form a good foundation for money management. I believe it gives them the discipline and understanding they need to set and achieve high goals for the future."
Sarah Yarr, Siuslaw Valley Bank, Cottage Grove Branch

"Save for America is a wonderful program. It is the foundation of a child's future financial independence."
Ken M. Yokoyama, Senior Vice President, Columbia Bank, Auburn, Washington

"We're proud to be a part of a program like this that is designed to teach young people the importance of saving and managing their money - a practice that will be beneficial to them as they grow to adulthood"
David Hale, President, First Capital Bank, Kentucky

"We want to be part of the community. We live here, and we work here. We all have a personal stake in the education of our children."
Sandra Anderson, Vice President, American Bank of Texas, Dallas Morning News, October 2000

".a very popular "extra" activity for the students of the school, as well as for my employees who coordinate the effort. We have certainly enjoyed this project, and some day we hope to expand this to other schools within the district."
William R. White, Chairman and President, Dearborn Federal Savings Bank

"It's not how much they put in that's important, but that they have fun."
Ann Siebert, personal banker/parent, Sterling Savings Bank, Couer d' Alene Press, October 2000

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Government Officials

"The program teaches children the benefits and values of saving on a regular basis. It is also important to give our kids head start in banking over the Internet."
- Iowa State Treasurer Michael Fitzgerald
Visit the Iowa State Treasurer's web site at: www.treasurer.state.ia.us

"The SAVE FOR AMERICA program is a fun and effective tool all educators and parents can use to teach Oregon school children the value of financial responsibility and allow them to benefit from their greatest financial asset-time. There is no greater gift that we can give our children than the gift of financial security. I am convinced that the children who develop strong savings habits today will have the freedom to achieve more of their goals in the future."
- Oregon State Treasurer Jim Hill.
Visit the Oregon State Treasurer's web site at: www.ost.state.or.us

"All young people in Washington need to learn the value of saving for the future and experience a sense of accomplishment. This is an important life skill. To achieve this goal I whole heartedly support SAVE FOR AMERICA - the National School Savings Program."
- Washington State Treasurer Michael Murphy.
Visit the Washington State Treasurer's web site at: www.wa.gov/tre

"All young people in Minnesota need to learn the value of saving for the future and experience a sense of accomplishment. This is an important life skill. To achieve this goal I whole heartedly support SAVE FOR AMERICA -- the National School Savings Program."
- Minnesota State Treasurer Carol Johnson.
Visit the Minnesota State Treasurer's web site at: www.treasurer.state.mn.us

On the "IMPORTANCE OF IMPROVING FINANCIAL PROFICIENCY OF YOUNG PEOPLE", Treasury Assistant Secretary for Economic Policy DAVID W. WILCOX highlighted Save For America to the Educators convened as " reinforcing the basic lessons that (educators) are teaching in the classroom."
- Treasury Assistant Secretary for Economic Policy Speech THE FEDERAL RESERVE BANK OF DALLAS, November 13, 2000
Visit the U.S. Treasury Department's website at: www.treas.gov

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