MSB Blog

Teach Children to Save Day brings awareness to the importance of teaching young people about not only saving, but also spending, budgeting, banking, credit, and investing. At Monson Savings Bank, we believe it is essential to teach children about finances from a very young age. In fact, we take pride in teaching young people about money every day.

How We Provide Financial Literacy Education

As a local, community bank, we have invested in the youth of our communities by offering and teaching Financial Literacy school programs, providing student-focused bank account options along with in-branch assistance, and providing financial assistance to school programs. Most recently, Monson Savings Bank has partnered with Banzai, an interactive online tool that can be found easily from the Bank’s website. It provides access to engaging lessons, calculators, tools and resources covering various financial topics. Banzai program also has an in school component that allows schools to utilize the program in classrooms compliments of Monson Savings. Visit Banzai here: https://monsonsavings.teachbanzai.com/wellness

Our Passion for Financial Literacy

Monson Savings Bank’s passion and dedication to financial literacy education is evident when you talk about it with leaders and employees of the Bank. Dan Moriarty, President and CEO of Monson Savings Bank, recently reflected on the importantance of financial literacy and why Monson Savings has made it our mission to make it accessible in many ways.

“Several years ago Monson Savings Bank recognized that there was a need for financial literacy education among children of the area. We decided to be the leader for financial literacy in our communities,” said Dan Moriarty, Monson Savings Bank President and CEO.  “Everyone can benefit from learning more about financial literacy, but it is especially important for young people because it builds a foundation for lifelong financial success.”

Monson Savings Bank's Wilbraham Branch Manager and Retail Banking Officer, Carolyn Balicki, recently reflected on a time she assisted in teaching a young person about banking and saving money to reach a financial goal.

“Helping children and teens learn about banking is one of my favorite parts of my job. I recently had the opportunity to help a young man open his first Teen Checking and Savings accounts. When he and his father came in to open the accounts, he excitedly told me that the savings account was to save for a new iPhone and his father rolled his eyes like ‘yeah right!’ His parents agreed to pay for the cellphone plan if he could purchase the phone on his own,” said Carolyn Balicki, Wilbraham Branch Manager and Retail Banking Officer. “The determined young man got to work earning and saving money. He started mowing lawns and doing yardwork for neighbors. His parents kept bringing him into the bank to make savings deposits. Within a year he had saved enough to buy his new iPhone. He knocked on my door and said ‘guess what?’ as he proudly held up his new phone. It was a very rewarding moment for me, it makes me happy to help young people reach their banking goals.”

Monson Savings Bank takes financial education out of the bank and directly to young people with financial literacy presentations at local schools. Monson Branch Manager and Retail Banking and Security Officer, Wil Morales, shares what he has found rewarding about teaching the upcoming generations of local communities.

“A memorable and rewarding moment I had was teaching a financial literacy class at Monson High School. It was a blessing to see young people so engaged and interested in finances. They were particularly interested in learning about the benefits of setting goals and budgeting money,” said Wil Morales, Monson Branch Manager and Retail Banking and Security Officer. “Some students I taught are the sons and daughters of our existing customers, and it was amazing to see that generational relationship continue to grow. Several students were existing customers themselves already and some became new customers after the financial literacy class. When I see the students coming into our branch I always remind them about how important it is to budget their money and that we are always here to help them reach their banking goals.”

As a part of our initiative to continue to be a financial literacy leader for the local communities, Monson Savings Bank has also partnered with Banzai to make learning about money easier at home and in classrooms. The interactive Banzai tools are not only available to children, but also to adults looking to learn about various financial topics. Lena Buteau, Vice President Retail Branch Administration, shares her excitement about Banzai.

“At Monson Savings Bank, one of our passions is teaching young people about financial literacy. In addition to our financial literacy presentations at local schools, we have partnered with Banzai to offer fun, interactive, and educational games for elementary and high school aged students. These games can be accessed anywhere and they are ever changing, staying up to date with relevant information. Not only are they a great tool for young people, they are designed to reach people at just about every stage of their life and financial situations. Anyone looking to learn how to manage their finances better, get some valuable money tips, and achieve their financial goals should take a look at the Monson Savings Bank's website to see what Banzai has to offer.”

Learn More & Get Started

You can learn more about Monson Savings Bank’s Financial Literacy and Wellness Initiative’s and start using the Banzai tools and resources by visiting: https://www.monsonsavings.bank/plan-learn/financial-wellness.

Other Resources

American Bankers Association: The ABA offers tips, interactive lessons and resources to help youth understand money concepts: www.aba.com.