(TOPEKA, Kan.) - Kansas State Treasurer Lynn Jenkins announced the kick off to her "Save at School" program that will not only teach students how to save money, but will give them the opportunity to actually save it. The K-State Federal Credit Union opened the first savings account at Woodrow Wilson Elementary School before class began today.
Interested students met with employees from the credit union and went to class with a passbook showing the amount of money in their account and a coin bag for additional deposits.
"Woodrow Wilson Elementary is the first school in Kansas to participate in the Save at School program and we couldn't be more thrilled with the results," said Treasurer Jenkins. "It is crucial that we teach young people that they are primarily responsible for their financial futures."
The "Save at School" program will introduce students to the concepts of money management by having participating students open savings accounts and make deposits on scheduled days at their schools.
"Beginning today, we are going to be at Woodrow Wilson Elementary every Tuesday opening savings accounts and accepting deposits," said Vickie L. Hurt, president of K-State Federal Credit Union. "Two employees will also be helping teach the curriculum provided by the Treasurer's Office."
"We are delighted to be the first credit union in the state to offer this program to Kansas students," Hurt said.
Later in the morning, Treasurer Jenkins spoke with fourth, fifth and sixth graders. Jenkins, a CPA and a parent with an interest in the financial future of all Kansans, told the students that it is never too early to start saving money. The Treasurer then helped open accounts for a few Woodrow Wilson students selected by school officials.
In partnership between the Kansas State Treasurer's office and the Kansas Credit Union Association, more Kansas schools will be offering this program to their students this year. In November, students at Jay Shideler Elementary School in Topeka will be opening saving accounts with the Education Employees Credit Union.
"We want the students to leave class with more than a grade," Jenkins said. "We want them to walk away with a hefty savings account and an understanding of money management."
The Kansas Credit Union Association was organized in 1934 to promote the welfare and interests of credit unions and to assist in the organization of credit unions; to act on behalf of credit unions; and to carry on essential business functions for the common benefit of all member credit unions. The Association's mission is: To assist member credit unions in meeting the needs of their members and potential members in order to further the success of Kansas credit unions. The Association takes leadership roles in: fostering the credit union philosophies of democratic control and "people helping people"; promoting safety and soundness of its member credit unions while giving full support to the credit union cooperative system; developing and maintaining favorable legislation and regulation for credit unions, providing enlightened educational opportunities, generating healthy credit union growth strategies, and making available other credit union programs and services.
K-State Federal Credit Union is a not-for-profit financial cooperative, owned and controlled by its members, chartered in 1946 to meet the financial needs of educational employee groups in the Manhattan area. All employees of an approved employee group are eligible for membership in the credit union. This includes all employees and students of K-State, all employees of Riley County and Riley County public schools, and employees of other select Manhattan area businesses.
Jenkins, a former State Representative and Senator from Topeka, was elected Treasurer on Nov. 5, 2002. She is a Certified Public Accountant and former small business owner. Since being sworn into office in January 2003, Jenkins has expanded investment options in Learning Quest, initiated multiple financial literacy programs, and eliminated the reliance on state general fund dollars to operate the office.