Academic journal article ABA Banking Journal

New ABA Toolbox on Financial Education

Academic journal article ABA Banking Journal

New ABA Toolbox on Financial Education

Article excerpt

ABA has introduced its latest toolbox for bankers, which focuses on how banks can promote financial education and financial literacy in their communities.

The toolbox can be downloaded online from aba.com. Print copies have also been sent to chief executives of ABA-member institutions.

"If we as bankers don't help stop the cycle of financial illiteracy and consumer exploitation of society's oldest, youngest and least-able Americans, who will?" asked ABA Chairman Harris Simmons in the toolbox's cover memo.

"Our individual institutions and our industry as a whole can make a tremendous difference in this important area and positively affect the lives of so many Americans," said Simmons, who is chairman, president and CEO of Zions Bancorporation, Salt Lake City. "But it won't happen on its own. All of us need to commit to do more to expand people's understanding of money, of us, and of our business."

The ABA Toolbox on Financial Education is divided into five sections: starting a financial education program at your bank; using your bank's website to educate; teaching a one-time or annual event; developing long-term educational programs; and communicating about financial education. …

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