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THE BANK OF GLEN BURNIE JOINS ‘TEACH CHILDREN TO SAVE’ CAMPAIGN

April 24 marks 19th annual Teach Children to Save Day

GLEN BURNIE, MD (April 24, 2015) – THE BANK OF GLEN BURNIE partnered with George Cromwell Elementary and Point Pleasant Elementary to celebrate Teach Children to Save Day with savings education on Friday, April 24. More than 100 local youths learned about budgeting, savings money, and calculating interest.

Established by the American Bankers Association in 1997, Teach Children to Save has reached 7.2 million young people through the commitment of 210,000 banker volunteers. 

“It is always a great pleasure to go to schools and share financial knowledge with the children who are the future of our county, state and nation,” said President and CEO Michael Livingston.

The Bank of Glen Burnie offers a Youth Savings program for children 17 years and under, where children can save money and receive interest over time. With a $50 minimum opening balance, parents can help their children start saving for a car, apartment, college and more. Further information on our Youth Savings program can be found on www.BofGB.com/personal-savings

In addition, The Bank of Glen Burnie 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 onscientious 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.
  • 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’ll be more likely to give cash for special occasions, which means more trips to the bank.
  • 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.

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The Bank of Glen Burnie® is a safe, sound, community-oriented locally owned bank, committed to excellence in satisfying the needs of our customers, shareholders and employees. Founded in 1949, The Bank of Glen Burnie serves the Anne Arundel County, Maryland community with eight branches. Visit www.thebankofglenburnie.com for more information.