Texas Department of Banking Webinar featured Lou Garino, local financial literacy expert

THE WOODLANDS, Texas – Numerous studies confirm that bad financial habits tend to be learned in youth, and by the time adulthood is reached the resulting hardships are often unsurmountable. Banking On Kids is a national organization that has a mission to educate children about finances at a young age, before bad habits are formed, with a unique program that established student-run bank branches in area schools. Recently, the Texas Department of Banking hosted a webinar featuring Banking On Kids’ National Account Director – and host of Business Newsmakers Radio – Lou Garino as a guest speaker.

The goal of the FDIC Money Smart for Young People and Banking On Kids Webinar was to learn about the new FDIC Money Smart for Young People curriculum, and Banking on Kids, an in-school bank real world experience program by enabling K-8 students operate a real bank, using real money, sponsored by neighborhood banks. Participants of this webinar included financial institutions, government agencies, non-profit organizations, businesses, teachers, students, consumers, and community leaders who are committed to or are interested in financial education.

Business Newsmakers Radio is a weekly show hosted by Garino, and broadcasts each Monday and Friday on Business 1110 AM KTEK, Bloomberg Radio on the Wall Street Radio Network, from 10 a.m. to 11 a.m., as well as podcasts at www.business1110ktek.com, and at www.BusinessNewsmakersRadio.com.

“This webinar was an ideal forum to educate those in the industry about two critical items: the tragic state of financial literacy of our youth, and the ways to rectify it,” said Garino. “

Garino encourages all area banks to participate in the program. Sponsoring banks average 500 new savings accounts per school, with cradle-to-grave loyalty from new account-holders. As part of a national awareness media campaign for financial literacy, each sponsoring bank will benefit from local and national press releases, radio interviews, social media campaigns, and print and other media coverage of each school's student-run bank opening. Community Reinvestment Act benefits to each bank are numerous, as Banking On Kids has been proven effective in meeting the needs of community development, a process which is documented and highlighted through photo opportunities and letters of appreciation within the communities served.

For more information, please visit www.BankingOnKids.us.