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Community Banks Join with Education and Treasury Departments To Promote National Financial Capability Challenge

ICBA Encourages Students To Learn More about How To Manage Their Money during Financial Literacy

Washington, D.C. (April 1, 2010)—April is Financial Literacy Month, and the Independent Community Bankers of America (ICBA) is proud to join with the Treasury and Education departments in promoting the National Financial Capability Challenge.

The Challenge is an awards program designed to increase the financial knowledge and capability of high school-aged youth across the United States so they can take control over their financial futures. It challenges high school teachers and other educators to teach the basics of personal finance to their students and rewards students, educators, schools and states for their participation and success. The program’s goal is for 1 million students to take the challenge.

“Managing money wisely is critical to success in life,” said Jim MacPhee, ICBA chairman and CEO of Kalamazoo County State Bank in Schoolcraft, Mich. “The more consumers know, the better they are at managing their finances. And the better they manage their finances, the more likely they are to enjoy a secure financial future. That’s why it’s especially important to reach high school students and get them started on the right financial path early.”

ICBA has an ongoing commitment to financial literacy programs, encouraging community banks to provide programs within their communities and forging government, nonprofit and private-sector partnerships.

“Community banks are committed to giving their customers the information they need to make solid financial decisions,” said MacPhee. “You’re never too young to learn how to manage money. During Financial Literacy Month, we hope people of all ages will stop by their community bank and learn how to plan for a stable and successful financial future.”

For more information about the National Financial Literacy Challenge, visit http://challenge.treas.gov/index.htm. To learn more about community banking, visit www.icba.org. To find a community bank near you, visit ICBA’s community bank locator by clicking here.

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