‘Piggy Bank’ Program helps young students gain financial footing

It isn't unusual for a new bank to open, but when that bank opens in an elementary school — wedged in among the milk cartons and construction paper art — that's worth noting.

The new bank opened Nov. 9 at Long Elementary School, 2000 S. Walnut Road, and is the third bank created as part of the "Piggy Bank" Program with the help of the United Way's Young Philanthropists Society.

"Today marks a bright future for over 700 students who will now have access to their very own savings account through the "Piggy Bank" Program and the financial literacy curriculum that works in tandem with it in the classroom," said Bob Morgan, United Way of Southern Nevada's president and CEO, during the opening ceremony.

Students bring in deposits from the savings accounts on a weekly basis. The account is an actual bank account through Silver State Schools Credit Union and earns interest.

"Through the 'Piggy Bank' Program, students will learn in an experiential way how to save for goals like education, college, medical care and their very own home," Morgan said.

Justin Micatrotto, UWSN Young Philanthropists Society co-chairman, chief marketing officer for MRG Marketing & Management and co-owner of several Raising Cane's Chicken Fingers restaurants in the valley, said that some of the early participants in the program at the other schools had planned to save money for bicycles or video games, but that many of the students he had spoken with at Long Elementary had set their saving goals on college.

Micatrotto was one of several speakers at the event who praised the other community partners involved and expressed pride in their own involvement with the project.

"Our goal is to make a difference in children's lives through volunteerism, mentorship and events," Micatrotto said of the Young Philanthropists Society. "We do that by harvesting the energy, commitment and diverse skill sets of the next generation of leaders."

Katie Decker is the principal of both Long Elementary School and Walter Bracken STEAM Academy, 1200 N. 27th St., where the "Piggy Bank" Program was created to help children learn how to save. The program is also at Hollingsworth Elementary School, 1776 E. Ogden Ave.

"Students who go through the program really have a jump-start on learning the importance of having a savings account," said Rebecca Freeman, director of marketing for Silver State Credit Union. "We're really proud to be a part of something that helps kids in our community become financially successful and confident."

Nevada State Sen. Ruben Kihuen of Senate District 10 said that he hoped the program would have a larger effect in the community and that the children taking part in it would pass their newly learned financial literacy on to their parents and eventually on to their own children.

"Financial literacy leads to financial prosperity," Kihuen said.

Visit uwsn.org/yps.

— To reach East Valley View reporter F. Andrew Taylor, email ataylor@viewnews.com or call 702-380-4532.