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BAR HARBOR BANK & TRUST TEACHES CHILDREN TO SAVE ON APRIL 12

April 5, 2019

:                    BAR HARBOR BANK & TRUST TEACHES CHILDREN TO SAVE

Bar Harbor, Maine — Bar Harbor Bank & Trust is celebrating national Teach Children to Save Day on April 12, sponsored by the American Bankers Association (ABA) Foundation.  Geared toward grades K-8, Teach Children to Save is a national program that organizes banker volunteers to help young people develop a lifelong savings habit, putting them on a path to becoming smart money-managing adults.  If you are interested in having a Bar Harbor Bank & Trust employee teach a savings lesson at your school, or to a local community group, please contact Zoe Zalta, Marketing Coordinator at 888-853-7100 x10519.  Lessons can be taught any time of year.

“For over a decade Bar Harbor Bank & Trust has been partnering with the ABA to provide this financial literacy program to the communities we serve. Year after year, schools welcome our employees into their classrooms to engage with students and teach them the importance of saving money,” said Zoe Zalta, Marketing Coordinator at Bar Harbor Bank & Trust.  “Teach Children to Save is a great opportunity for us to share our passion for financial education and improve our local community.”

Bar Harbor Bank & Trust offers the following tips for money-savvy parents raising money-smart kids:

  • Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents' personal finance habits. Share this Roadmap to Financial Responsibility with your kids.
  • Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones. See this list of eight ways to talk openly with your kids about saving money.
  • Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
  • Open a savings account for your children and take them with you to make deposits so they can learn how to be hands-on in their money management.
  • Let friends and family know about your child’s savings goal.  They will be more likely to give cash for special occasions, which means more trips to the bank.
  • Put the literacy in financial literacy. Encourage your children to read books that cover various money concepts. Not only will they become strong readers, but they will be smart money managers, too. Click here for a list of titles for all ages. 
  • Engage your community. Many schools, banks and community organizations share your commitment to creating a money-savvy generation.  Engage a coalition of support to provide youth with the education they need to succeed.

Established by the American Bankers Association Foundation in 1997, Teach Children to Save and the Foundation’s other financial education initiatives have helped reached 10.5 million young people through the commitment of more than 260,000 banker volunteers. The ABA Foundation provides financial education initiatives and resources that help bankers make their communities better.  The association’s signature initiatives, Teach Children to Save, Get Smart About Credit, Lights, Camera, Save! and Safe Banking for Seniors bring bankers and students of all ages together to enhance financial education.

Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Operating over 50 locations across Maine, New Hampshire and Vermont, Bar Harbor Bank & Trust is headquartered in Bar Harbor, Maine and has more than $3.6 billion in assets.  As a leading Northern New England community bank, Bar Harbor Bank & Trust offers a full range of personal and business banking services, as well as wealth management services through its subsidiaries Bar Harbor Trust Services and Charter Trust Company.  For more information about Bar Harbor Bank & Trust, visit www.barharbor.bank or call 888-853-7100.  Member FDIC.

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As part of Bar Harbor Bank & Trust’s celebration of national Teach Children to Save Day, Ginny MacLeod, Branch Relationship Manager in Southwest Harbor, Maine, taught a savings lesson to third and fourth graders at the Tremont Consolidated School in Bass Harbor.  If you are interested in having a Bar Harbor Bank & Trust employee teach a savings lesson at your school, or to a local community group, please contact Zoe Zalta, Marketing Coordinator at 888-853-7100 x10519.

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