Opening a savings account probably doesn’t sit very high on your child’s agenda. If such a thought even appears on your kid’s to-do list, if your kid keeps a to-do list, it probably falls somewhere between visiting the dentist and willfully eating broccoli.
But according to Michael Cummings from First National Community Bank, there may not be a better time to begin saving.
“It’s really important to start at a young age,” he said. “Developing good saving habits early on allows them to continue later in life.”
In an effort to instill those habits in the youth of Northeast Pennsylvania, FNCB invites students from grades two to five to participate in the second annual Piggy Bank Pageant.
Participants design and create their own piggy bank and can drop it off at their local FNCB branch any day during the month of April. One winner from each location receives $25, with a $200 grand prize awarded to the “Best in Show.”
The bank will deposit the money in each winner’s First National Community Bank Youth Savings account.
FNCB encourages students to get creative in their designs. An alligator bank won last year’s competition and only a few shaped like pigs were even submitted, Cummings said.
The Piggy Bank Pageant represents just one of the ways in which the bank reaches out to young people.
Cummings said FNCB bankers volunteer to visit schools to educate students on concepts related to saving as part of the bank’s dedication to serving the region.
“It’s part of what being a community bank is all about,” Cummings said.
Now in its third school year, the bank’s youth saving initiatives have, according to Cummings, reached about 5,000 students, including 1,900 in the 2013-2014 school year alone.
In 2013, FNCB held the Piggy Bank Pageant in October, but is running the event in April this year in recognition of Financial Literacy Month, a national initiative promoting the importance of financial literacy and money management.
Visit www.fncb.com to download the Piggy Bank Pageant registration form or fill one out when you drop of your bank at your local FNCB branch.