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UNION BANK SUPPORTS AMERICA SAVES WEEK AS PART OF YEAR-LONG FINANCIAL EDUCATION PROGRAM
For Immediate Release
LOS ANGELES, Feb. 18, 2011 - As part of its long-standing commitment to financial literacy and in an ongoing effort to educate consumers about the importance of saving money, Union Bank, N.A., today announced additional details of its year-long financial education program. The program kicked off earlier this year when the bank announced its partnership with Operation HOPE (HOPE) as founding sponsor of the Five Million Kids initiative. In February, the bank will support the fifth annual America Saves Week, which will run from February 20 - 27, 2011, and financial education activities will continue during Financial Literacy Month (April) and throughout the year.
America Saves Week, a national campaign organized by the Consumer Federation of America and the American Savings Education Council, aims to increase awareness of saving money, reducing debt and building wealth, and individuals are encouraged to create a savings plan or assess their current plan. In honor of America Saves Week, Union Bank is offering a special savings bonus at select branches when a new customer opens an eligible Union Bank savings account. The account must be opened with a minimum of $50, followed by $25 deposits for the next three consecutive months. The offer is available in select branches through April 30, 2011. The bank is also supporting the special savings offer with local grassroots marketing and advertising. Numerous resources to help consumers start and maintain a savings plan are also available at www.americasaves.org.
"At Union Bank, financial education remains a top priority, as we recognize the importance of educating customers, and especially our youth, about a variety of financial topics, including saving and committing to a consistent savings plan," said Pierre Habis, senior executive vice president and head of Community Banking. "Our support of important national initiatives such as Five Million Kids and America Saves Week help us reach mass audiences with educational tips and specific tools, and we value our partnerships with such committed organizations."
Union Bank’s five-year commitment to HOPE focuses on the Five Million Kids initiative, the award-winning Banking on Our Future youth financial literacy program, and the HOPE Banking Center Network. The partnership includes Union Bank employees serving as HOPE Corps volunteers, playing an integral role in providing financial education to local schools. In 2010, bank executives and bankers volunteered and taught more than 3,500 students, grades fifth through 12th, one hour per week for up to four weeks. During 2011, executives and bankers will again be matched with schools throughout California. The bank encourages employees to teach financial education, and gives retail employees eight hours of paid time a year to volunteer for CRA-qualified nonprofit organizations, with an emphasis on financial education.
Union Bank executives will also continue to partner with other community and nonprofit organizations, including Junior Achievement, Boys and Girls Clubs, Conservation Corps of Long Beach, United Way, and many others, to conduct financial education workshops throughout the year. Financial Literacy Month, which is recognized in the month of April, emphasizes the importance of understanding personal financial choices and promotes teaching individuals, youth in particular, how to establish and maintain healthy financial habits.