Marlborough Savings Bank has been actively involved in a Financial Literacy Program for middle school students since late 2012. The program began at Trottier Middle School in Southborough, Massachusetts and expanded to Immaculate Conception (IC) School in Marlborough, Massachusetts in the fall of 2013. Through this program, representatives from Marlborough Savings Bank teach eighth grade students how to manage expenses, balance a checkbook and how to properly use different bank accounts and bank services. The class is conducted in a simulated real-life environment in which students are given jobs and salaries, living expenses and a budget sheet to aid them in managing their finances.
“We understand how important it is to set a solid foundation for money management. These real life scenarios will help bridge the gap in knowledge of banking products and services,” said Tracy Bartucca, AVP/consumer lending officer of Marlborough Savings Bank in Marlborough, MA.
In addition, the program offered at IC School in Marlborough is part of a mathematics course, dedicating extra attention to the calculation of interest rates on bank accounts.
President and CEO of Marlborough Savings Bank, Rick Bennett said “It’s encouraging to see the level of interest these students have in day-to-day finances, as well as high level banking concepts.”
Trottier Principal Keith Lavoie is pleased with the partnership formed between the school and the bank. “The program has added depth to our course of study that will prepare our students for the ‘real world.’ Combining a hands-on experience with an academic application gives our students a wonderful opportunity,” he said.
Throughout the month of August, we’ll be posting regular posts highlighting financial literacy information, including community banks who are active in their local communities’ financial literacy programs.
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