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Cadence Bank and United Way - 'Teach Children to Save Day'

BIRMINGHAM, Ala. – Cadence Bank is partnering with United Way of Central Alabama to celebrate Teach Children to Save Day with students at South Hampton Elementary School on April 23 at 9:00 a.m. More than 150 students in six classrooms of kindergarteners and first graders will explore the difference between needs and wants to learn how to cut spending and build savings.

Established by the American Bankers Association Education Foundation in 1997, Teach Children to Save Day has reached more than 5.6 million young people through the commitment of nearly 122,000 banker volunteers.

Sam Tortorici, Cadence Bank CEO and vice president/chair-elect of the United Way of Central Alabama, said, “We will share our banking knowledge to motivate students at South Hampton Elementary to become lifelong savers. And, by partnering with United Way’s Success By 6 program, our interactions will be in terms young children can understand and put to use in their every day lives.”

Cadence Bank 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 conscientious spender and an active saver. Children tend to emulate their parents' personal finance habits.
  • 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 them make mistakes. As they get older, give them responsibility over how they manage their money. When they make a mistake, use it as a teachable moment to discuss the right way to handle money.

The American Bankers Association

The American Bankers Association provides programs and resources that help bankers engage their communities around financial education. Signature programs, Teach Children to Save Day and Get Smart About Credit, bring bankers and students together to increase financial literacy through hands-on learning.

About Cadence Bank

Cadence Bank, N.A., based in Birmingham, Ala., is a $5.7 billion bank with more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 126 years of financial expertise, Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. These products and services include commercial and consumer banking, small business banking, treasury management, international banking, specialized lending, commercial real estate, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer loans, mortgages, home equity lines and loans, and credit cards. Cadence Bank and its affiliates, Linscomb & Williams and Cadence Insurance Agency, are wholly owned subsidiaries of Houston-based Cadence Bancorp, LLC. Additional information about Cadence Bank is available at Cadence Bank, N.A. Member FDIC. Equal Housing Lender.

Contact Information: 

Danielle Kernell

Cadence Bank, N.A.
713-871-4051 direct | 713-392-7709 mobile

[email protected]

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