Department of Financial Institutions
DFI Helps Teach Children to Save
FRANKFORT, Ky. (Sept. 25, 2008) – The Kentucky Department of Financial Institutions (DFI) was pleased to assist the Louisville Branch office of the Federal Reserve Bank in presenting “Teach Children To Save Day” in Louisville on Wednesday.
Volunteers from DFI and Louisville-area banks visited first-grade classes in 20 Louisville schools to encourage the very young to start the habit of saving. Volunteers read a story about earning and saving money and answered questions on how to save.
Some of the youngsters were already knowledgeable about saving. Students named goals they might save their money for, like video games, toys and pets. They also thought about ways to earn income, like walking dogs, doing dishes or helping to clean around the home.
“I was impressed with how knowledgeable the students were about saving,” said Rebe Conley, a participating DFI employee.
Each student received a piggy bank made out of recycled currency and a coloring book with a story about saving. Booklets titled “Kids and Money,” offering tips on discussing saving with the family, were sent home to the first-graders’ parents. Additionally, one student in each participating class may receive a $50 savings bond or savings account.
“Saving money is important at any age,” said Kelly May, a participating DFI employee. “Teach Children To Save Day is a wonderful way to reinforce goal setting and responsibility and to give the students a good habit early in life.”
This year marks the third year of the program. To date more than 4,500 first-graders have participated in Teach Children To Save Day. The day was sponsored by the Louisville Branch office of the Federal Reserve Bank of St. Louis, in partnership with the Kentucky Bankers Association, Jefferson County Public Schools, 13 local banks and DFI.
DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve the public through effective and efficient regulation that promotes consumer confidence and economic growth.