Washington Federal boosts financial literacy program

Banking | 28 Aug, 2017 |

Washington Federal’s Superstition Springs branch, which is located at 6835 E. Baseline Road, has partnered with Liberty Arts Academy in Mesa on its Save at School program, a free financial literacy program for schools across Arizona. Through the program, which is provided to schools through Washington Federal at no cost to the school or taxpayers, elementary and middle school students learn to manage finances early in life by making regular deposits into a free savings account.

“We formally kick off the program each semester with an event where we help kids to start savings accounts,” said Charity Rice, branch manager. “Then, we visit the school once or twice a month with curriculum and interactive learning experiences for the kids throughout the year.”

With a parent’s permission, students are able to open a savings account with just a $5 minimum deposit, which Washington Federal will match with an additional $5.

“Throughout the school year, we hope to teach the children terms like ‘deposit,’ ‘withdrawal’ and ‘interest’ as well as the difference between one’s wants and actual needs, something we all struggle with from time to time,” said Rice. “Parents also receive quarterly statements by mail, and students are presented with register books to keep track of their money.”

Washington Federal recognizes the importance of teaching children how to save money early and often, and makes this program available at any time to schools across Arizona. There is also a high school program called Washington Federal Financial Scholars, available at no cost to schools or taxpayers.

Contact your nearest branch about hosting the Save at School program at your neighborhood school by visiting www.washingtonfederal.com

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