September 20, 2011 – Treynor, IA – TS Bank is proud to announce that its newest in-school branch has more than doubled its savings goal since it began in September of 2010.
The bank is open once a week for second through fifth grade students, with 12 fifth graders serving as the Client Service Representatives. Nearly 70% of the students in these grades at Treynor Elementary are participating in the program. And, since the TSBank Cardinal Branch launch in September 2010, students have surpassed their initial savings goal of $6,000 to an impressive $20,000.
The purpose of the student bank is to introduce the concept of saving money at an early age and reinforce the idea throughout the elementary curriculum. Secondly, it is a way to demonstrate that saving money should be part of a student’s personal financial plan, and that both parents and children can work together to meet savings objectives.
“We’re thrilled that our students are taking it so seriously, and couldn’t be more proud of them. Financial literacy is such a critical skill, and has been ignored for a very long time. But with the help of TS Bank and the TS Institute, we’re making significant progress by teaching these young people how to grow into successful, financially savvy adults,” stated Bob Mantell, TS Institute Director.
TS Bank and the TS Institute was also given the Iowa Bankers Association Community Betterment Award this year for its financial literacy efforts at the IBA Conference on September 20, 2011. In addition to the Cardinal Branch success, the TS Institute will be featured at this year’s American Bankers Association (ABA) marketing conference in Baltimore, MD, September 18-20.
Becki Drahota, President of Mills Financial Marketing, an Iowa-based financial marketing firm, will present TS Bank’s financial literacy efforts as a case study in her keynote address entitled, “The Financial Industry’s Bum Rap: How Your Bank Can Help Repair It, Restore It and Earn Back Respect!”
“TS Bank has broken the mold in their proactive effort to integrate financial literacy into schools on a consistent basis. We believe in its importance, and look forward to presenting their efforts as best practice at the conference,” said Becki Drahota, President of Mills Financial Marketing.
The ABA conference attracts hundreds of bankers from financial institutions nationwide, and will provide a platform for TS Bank to answer questions from other organizations wanting to adopt and implement this strategy in their own community.
“We are grateful for the opportunity to present our initiatives on a national level, and look forward to connecting with other bankers and local school districts to establish more student banks. Our long-term vision and desire for this program is to reach far beyond Iowa state lines to become a nationwide initiative,” said Mantell.
The TS Institute, established in 2009, is a foundation committed to creating a stronger, more financially savvy future generation through a K-12 financial literacy program. The TS Institute vision is to extend this program to state and regional levels. To learn more or to get your school involved visit the TS Institute online.