ABA Banking Journal - April 2008 - (Page 22)

briefing ABA Chairman’s Position ABA Resources Continued from page 21 BRADLEY E. ROCK CEO, Smithtown Bancorp brock@aba.com You never really know a subject until you teach it COACHING YOUNG PEOPLE—TEACHING them, mentoring them, inspiring them—is one of the greatest opportunities anyone can have. I have done that as a high school football coach, and I know that coaches and teachers can make an important difference in the lives of young people. Bankers have a special opportunity to teach youngsters how to handle their money. April 29th is the 12th annual National Teach Children to Save Day when thousands of bankers go into our nation’s schools to teach students essential lessons about saving and money management. ABA’s Education Foundation launched Teach Children to Save Day in 1997. Since then, more than 45,000 bankers have participated, reaching nearly 2.3 million students with lessons on how to save, budget, and distinguish between needs and wants. Those bankers volunteered to take the lead in educating millions on the importance of saving. They demonstrated their personal commitment to the future well-being of those kids and their communities. In a country where so few save and there is so much financial illiteracy, we have it in our power to make a difference. When we teach young people about the fundamental importance of saving today, we are making a down payment on financially literate adults tomorrow. And we can have some fun along the way. It’s been said that you never really know a subject until you teach it, and that’s especially true when you have to teach it to a member of today’s student body. Just as kids would love to get batting tips from a major league player, or music tips from a rock legend, they will really appreciate learning how to save from a banker. Our participation will also be a civics lesson as young people see us taking time from our banks to reach out to them. When they see us giving something back to the community, it will be a lesson they remember. ABA makes it easy for us. Our Education Foundation has created detailed instructions on how to teach savings lessons. The foundation offers two Teach Children to Save resource kits, one for grades K-6 and another for grades 7-12. These turnkey resources include planning materials, helpful hints, communication materials, and age-appropriate interactive lesson plans with activities and resources that families can share. I invite you to call ABA’s Education Foundation at 1-800-BANKERS, or visit www.abaef.com for more information and to order your Teach Children to Save resource kits. And then make plans to teach saving in a school in your community. If you have young children, you may want to go to an elementary school. If you have teenagers at home, seek out a high school. After-school programs and clubs are also great places to offer a program. April 29th, Teach Children to Save Day, is vitally important. It’s important to a nation where far too few people save. It’s important to us as bankers. And it is important to coach our young people on how they can start their own savings program and become financially responsible consumers. Studies show that nine out of ten schoolaged kids have never taken a class in personal finance. And yet they spend an estimated $179 billion a year. We have our work cut out for us. Let’s reach out and touch the future. I’ll see you in class. BJ • Outsourced investor accounting, P&I and T&I bank account reconciliations and loan level quality control services through Mortgage Dynamics Inc. • REO management services from New Vista Asset Management Inc., the nation’s only CRA-focused foreclosure disposition firm. For more information on the ABA/Freddie Mac Alliance call 866-764-2083 or visit www.freddiemac.com/singlefamily/aba.html. ABA endorses Strunk overdraft service ABA has endorsed Strunk and Associates’ Overdraft Privilege Service Program, a depository fee-based discretionary overdraft payment service. This comprehensive and structured overdraft service is designed to complement and enrich a financial institution’s account service portfolio and to strengthen its ability to attract, retain, and grow profitable account relationships. The Strunk turnkey operational package includes processes and business support mechanisms that are configured to meet even the most stringent requirements for successful implementation, integration and control of all overdraft and non-sufficient funds account transactions. Strunk and Associates also backs their clients with verifiable operational procedures and engagements with legal experts specifically dedicated to regulatory compliance in the area of overdraft services. To learn more, go to www.aba.com/CAB or call 1-800-BANKERS. 22 APRIL 2008/ABA BANKING JOURNAL Subscribe at www.ababj.com http://www.freddiemac.com/singlefamily/aba.html http://www.freddiemac.com/singlefamily/aba.html http://www.abaef.com http://www.aba.com/CAB http://www.ababj.com

Table of Contents Feed for the Digital Edition of ABA Banking Journal - April 2008

ABA Banking Journal - April 2008 Contents Editor's Column You Can't Beat Wal-Mart: Or Can You? Snapshot: Non-Interest Income Shoulders More Weight ABA National Conference for Community Bankers Report 100th Anniversary: Then & Now ABA Resources ABA Chairman's Position Banks Plus Insurance: How to Make It Work Pass the Aspirin 2008: Year of Rich Internet Apps? Tough Time For That IPO Your Audience Needs to Know Who You Are Telepresence: Costly But Very Cool Webnotes Better Websites Mean Tougher Compliance Mailbox Banker's Mart To Advertise/Index of Advertisers The Economy

ABA Banking Journal - April 2008

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