OCC News: School-Based Bank Savings Programs: Bringing Financial Education to Students
Comptroller of the Currency John C. Dugan stated, “As a parent, one area of financial literacy that is especially important to me is that our children learn how to make the right financial choices before they leave home. These school-based bank programs are productive collaborations between banks and schools that share a mutual interest in providing financial education to students eager to learn.”
The OCC encourages bank participation in financial literacy initiatives such as school-based bank savings programs. Students involved in these programs receive “hands-on” learning, while banks gain added visibility in the communities they serve.
This Insights report explains how the various school-based bank savings programs operate and describes the potential risks and benefits, including positive consideration under the Community Reinvestment Act, that banks participating in these programs may receive.
via OCC News: School-Based Bank Savings Programs: Bringing Financial Education to Students.