Page 21 - April 24, 2025 Bulletin

Rob Nichols
President and CEO
American Bankers Association
nichols@aba.com
Washington Update
A Legacy of Financial Literacy
Each year, we celebrate Teach Children to Save Day
on the fourth Thursday in April – a day dedicated
to helping kids in grades K-8 learn valuable lessons
about saving money, budgeting and distinguishing
wants from needs.
I’ve been participating in Teach Children to Save
Day events since I became CEO at ABA ten years
ago, and I always look forward to going out into
classrooms and spending time with young people in
our community—just as I know so many of you do.
As we commemorate Teach Children to Save Day
2025, I’m reminded of the incredible legacy of the
ABA Foundation, which is celebrating its 100th
anniversary this year. The foundation was launched
in 1925 (in conjunction with ABA’s 50th anniversary)
as the Foundation for Education in Economics Trust
Fund. Funded through voluntary contributions,
the trust fund sponsored college scholarships and
research grants in economics, banking and finance.
In the 1970s, the foundation launched its first
consumer education program – the Personal
Economics Program – to help volunteer bankers
bring financial education presentations to their
local schools and communities, and in 1997, Teach
Children to Save Day was created.
Education is at the heart of the foundation’s mission,
and today, the organization empowers bankers
with the tools and resources to help build long-term
financial capability for Americans of all ages. We do
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this through our many flagship programs – including
Teach Children to Save; Get Smart About Credit;
Safe Banking for Seniors; and Lights, Camera, Save!
– as well as through training, consumer resources
and campaigns.
I’m incredibly proud of the work the foundation
has done throughout its history to support banks
as they help build long-term financial security,
promote revitalized and resilient communities and
advance economic opportunity for all – and the
work continues! In fact, the foundation has set an
ambitious goal of reaching 5 million people with
financial education programs by 2026.
We are already well on our way: so far, more than
1,100 banks have reached 2.2 million customers
and counting. If you’re not already participating
in these programs, I encourage you to explore
our offerings and join us in this effort. Thanks to
financial support from the foundation’s sponsors,
we are able to provide our programs and resources
for free to every bank in the nation. You can register
at any time at aba.com/FinEd.
As bankers know all too well, you’re never too old
– or too young – to deepen your understanding of
personal finance and increase financial literacy.
By volunteering your time and expertise in your
community, bankers like you can help Americans
of all ages chart their course to a bright financial
future.