Banks, Kids, Schools
One of the fascinating shifts in banking over the past 60 years is the decline of in-school banking programs—initiatives where banks regularly visited schools to collect student savings deposits and help young learners build real-world money habits. These programs were more than symbolic; they provided early, hands-on experiences with saving, goal setting, and delayed gratification. By participating in routine deposit days and interacting directly with bank professionals, students—and often their families—gained foundational financial skills in a safe, structured environment.
But what impact has the disappearance of these programs had on youth and family financial literacy proficiency?
It’s worth considering how the loss of these simple, consistent touchpoints may have contributed to the persistent gaps in financial knowledge we see today. These programs didn’t just benefit kids—they had a multiplier effect, strengthening families and communities as well.
With fewer early opportunities for engagement, many children grow up without a basic, foundational understanding of how money works or the habits needed for long-term financial well-being.
While most youth financial literacy efforts today are focused on high school and college-age students—and these initiatives are absolutely valuable—it's time to shift more investment and priority to programs for young children. If we truly want to close financial education gaps and create generational cultural change, we must begin earlier. The earlier children are exposed to money concepts, the more likely they are to internalize healthy financial behaviors that stick. Waiting until the teen years is often too late to reverse attitudes and habits already formed in early childhood.
This challenge is further compounded by the reality that many parents and teachers feel ill-equipped to teach money lessons themselves. Surveys consistently show that adults often lack confidence in their own financial knowledge, making them hesitant to pass on guidance to children. Without formal training or easy-to-use resources, educators may avoid the topic altogether, and parents may delay or sidestep essential money conversations at home. This creates a cycle where financial literacy is delayed, deprioritized, or overlooked—widening the gap that programs like in-school banking once helped bridge.
Families in low- and moderate-income communities may feel the impact even more acutely, as they are less likely to have access to trusted, accessible financial education pathways. In today’s economy—where financial decisions are increasingly complex and impactful—the absence of early, community-based financial learning leaves many children at a disadvantage.
The good news? This gap presents an opportunity. Banks, credit unions, educators, schools, non-profits, entrepreneurs, and community leaders can come together to reimagine early financial education in modern, innovative ways—reviving the spirit of in-school banking and restoring its role in shaping confident, financially capable young people. Community reinvestment programs offer a powerful platform for banking and financial service enterprises to invest in these early financial literacy efforts, directly benefiting the neighborhoods they serve. Sometimes, looking forward means bringing back the best of what worked in the past—with fresh energy and purpose.
Reach Out
Have questions, suggestions, or want to learn more? Contact Team Sammy! We're here to help and share our 25 years of firsthand, 'in-the-trenches' experience. Together, let's make quality early-age and family financial literacy more accessible and impactful!
Email: contact@sammyrabbit.com
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Back to School Sponsor Strategies that Boost Financial Literacy for Kids
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Is It Time to Bring Back Banking in Schools—Starting in Kindergarten?