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FOR IMMEDIATE RELEASE

ICBA Applauds Reps. Hinojosa and Biggert for Resolution on Financial Literacy Month

ICBA Community Banking Month Opens Opportunity for Financial Education

Washington, D.C. (April 24, 2009)—The Independent Community Bankers of America (ICBA) strongly supports the bi-partisan congressional resolution (H.Res.357) designating April as "Financial Literacy Month” which calls on government, non-profit organizations and the private sector to raise public awareness about the importance of financial education across the country.

“Effective money management is a critical life skill whose importance has become even more apparent given the current economic climate. ICBA commends Reps. Rubén Hinojosa (D-Tex.) and Judy Biggert (R-Ill.) for introducing a resolution that raises awareness of the need for financial education through Financial Literacy Month,” said R. Michael Menzies, ICBA chairman and president and CEO of Easton Bank and Trust Company, Easton, Md. "Financial education is important for today's consumers so that they can make smart decisions when faced with the complex array of financial products and services available to them."

ICBA encourages its nearly 5,000 member community banks to support the goals of Financial Literacy Month by promoting financial literacy programs during ICBA Community Banking Month in April, as well as throughout the year. ICBA has an on-going commitment to improving financial literacy by forging government, nonprofit and private-sector partnerships, such as the Jump$tart Coalition and America Saves.

Each year, ICBA recognizes community banks for their outstanding financial literacy efforts within their community through the ICBA National Community Bank Service Award Financial Literacy Award. For 2008, two community banks received recognition:

  • Harleysville National Bank (HNB, Harleysville, Penn., for its on-site bank branch at Emmaus High School in Emmaus, Penn. that offers full service banking and financial literacy courses to students, faculty, staff and parents; and its “Books for Bucks” program for that rewards elementary and middle-school aged children with one dollar for each book they read outside of the school year and deposits their earnings into a savings account, so they can learn responsible savings practices.

  • First State Bank and Trust Company, Fremont, Neb., for First State Bank & Trust University (FSBTU), which addresses the fundamentals of financial literacy, as well as provides education in other select subjects.

For more information, visit www.icba.org.