FROM THE OFFICE OF PUBLIC AFFAIRS

April 26, 2005
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Treasury Secretary and U.S. Treasurer Join ABA to Kick Off 9th Annual “Teach Children to Save Day

The Treasury Department today teamed up with the American Bankers Association (ABA) Education Foundation for the 9th Annual "Teach Children to Save Day." Treasury officials joined local bankers across the country to visit primary, elementary, middle and high schools to teach students the importance of saving.

Secretary John W. Snow and U.S. Treasurer Anna Escobedo Cabral joined ABA Chairman Elizabeth A. Duke to kick off the nationwide efforts with fifth-graders from Washington D.C.'s Seaton Elementary at Treasury's Bureau of Engraving and Printing (BEP). Across the country, a total of 23 Treasury officials joined bankers in classrooms from Spokane, Washington to Tampa, Florida to teach lessons that illustrate the value of saving, budgeting and the power of interest. 

In addition to the financial education lesson, Secretary Snow and Treasurer Cabral witnessed the printing of the first paper currency with the new Treasurer's signature today at the BEP.

"I am grateful for the opportunity to serve as Treasurer and honored to have my name on the U.S. currency, along with that of Secretary Snow, a truly gifted and committed leader," said Treasurer Cabral. "I am also pleased to have been able to share today with students from Seaton Elementary. They remind us how important it is to teach children how to use their money to create opportunity and prosperity. It is crucial that we provide them the knowledge and resources they'll need to make educated decisions about their finances. I commend everyone that joined us across the country for Teach Children to Save Day, as well as the teachers, parents and community leaders who are hard at work to provide financial education all year long."

The ABA Education Foundation was founded in 1925 to support the banking industry's efforts to teach personal finance skills in schools and communities. Its programs help children, teenagers and adults develop the skills they need to budget, save, and manage credit. Since the ABA Education Foundation began "Teach Children to Save Day" in 1997, more than 18,300 bankers have reached out to nearly 1.2 million students. This year, 4,100 bankers from across the country taught money skills to an estimated 180,000 students. For more information on "Teach Children to Save Day," please visit http://www.aba.com and click on "Consumer Connection."

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