Print | Email

tcm:9-59294

UNION BANK PARTNERS WITH NATIONALLY RECOGNIZED CHILDREN’S AUTHORS TO TEACH KIDS ABOUT MONEY



For Immediate Release

Contacts:
Tanya Peebles-Hill
(213) 236-5329
tanya.peebleshill@unionbank.com

Jane Yedinak
(415) 765-3241
jane.yedinak@unionbank.com


Survey reveals more than three fourths of U.S. youth want to learn more about how to save money


SAN FRANCISCO, July 11, 2013 – In an effort to demonstrate its commitment to responsible banking and financial education, Union Bank, N.A., today unveiled a new, limited edition children’s book, What a Bank Can Do, by nationally recognized children’s authors John and Diane Tuzee. The bank also announced the results of its national YouthQuery survey, conducted online by Harris Interactive® from June 13-26, 2013, providing insight into the financial needs and desires of 8 to 18 year olds.

The survey of more than 1,200 U.S. youth reveals that 83 percent agree that they should spend less of their money in order to save more, and 76 percent want to learn more about how to save money. Eighty percent agree it is very important for someone their age to have a savings account, and the majority of U.S. youth also want to talk more with the adults in their life (e.g., parents, teachers) about how to save money (63 percent) and wish they had better sources of information about how to save money (61 percent).

“This study is eye opening, and confirms that our nation’s youth are hungry for knowledge, including learning and talking more about how to save with teachers, parents and other adults,” says Union Bank Executive Vice President George Leis, regional president for the bank’s Central Coast division, which is hosting a special book signing in San Luis Obispo with the Tuzees in July. “What a Bank Can Do tells a great story about the importance of saving and the role that banks have in our communities and our nation, and we hope it will be a fun learning tool for all adults to share with the youth in their lives. Educating and empowering youth using tools like this book will help build and sustain strong communities for the future.”

Colorful and easy-to-read, What a Bank Can Do explores the fun and importance of saving money through its main characters Luke and Linda, who first learn with their toy banks and later with their own bank accounts. With rhyming verse-text, the book reminds children of “one thing that’s kind of simple…always save more than you spend…” To help tell its story, What a Bank Can Do also features bold, lively illustrations by Mike Kasun, a nationally recognized commercial artist.

“It was clear to us that there’s a great need for books like What a Bank Can Do and other learning materials,” says Leis. “We support financial education throughout the year at Union Bank, and it is one of our core areas of philanthropic giving – supporting this book is a natural continuation of our commitment.”

Union Bank provided underwriting support for the development and initial distribution of What a Bank Can Do, donating many copies to schools and youth groups. The Tuzees hope the story, a 30-page journey sure to please the young and young-at-heart, will generate interest from other underwriters to support additional copies. “We’re pleased that Union Bank stepped up to support our initial print of nearly 5,000 copies, and we want to create a demand for more books,” says John Tuzee.

“We want to spread the word about What a Bank Can Do and the important story it tells,” says Leis. “The book is a great addition to John and Diane Tuzee’s collection and especially relevant for Union Bank and the financial industry at large.”

To preview What a Bank Can Do online, please click here: What_A_Bank_Can_Do.pdf.



Survey Methodology
Harris Interactive® conducted the survey online within the United States on behalf of Union Bank from June 13-26, 2013, among 1,211 8-18 year olds. Results were weighted as needed for age, sex, race/ethnicity, parental education, education, urbanicity and region. All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal. Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the U.S. 8-18 year old population. Because the sample is based on those who agreed to be invited to participate in the Harris Interactive online research panel, no estimates of theoretical sampling error can be calculated.

About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at March 31, 2013. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 443 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on March 31, 2013. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world's largest financial organizations. In July 2013, American Banker Magazine and the Reputation Institute ranked Union Bank #1 for reputation among its customers. Visit www.unionbank.com for more information.