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By Michael Souza
PBN Staff Writer
WATERBURY, Conn. - More than 50 employees from Webster Bank will participated in Junior Achievement’s “JA in a Day” program at Tinker Elementary School in Waterbury on May 24 as part of the bank’s commitment to financial literacy.
Member banks of the Connecticut Bankers Association such as Webster collaborate with their communities to provide such programs to state residents. Banks often deliver the programs they develop as well as partner with organizations like Junior Achievement, the American Bankers Association, the Federal Deposit Insurance Corporation and others to meet this need.
Financial literacy is the ability to understand money and how to manage it so that a person can make informed financial decisions. Financial literacy often is the first step toward financial stability and helps consumers save, better protect and manage their money, prepare for unexpected life events, and plan for short- and long-term goals.
Webster Bank has participated in financial literacy programs for the past six years, not only in Waterbury, where the bank is headquartered, but also in Hartford and New Haven and throughout Webster’s footprint.
“Financial literacy is crucial at every stage in life, whether you are a senior graduating from high school, or a senior looking toward retirement, and our CBA member banks understand the significance of that,” said Gerald Noonan, president of the CBA. “That is why this initiative is important for us. It is a way to give back to our local communities on behalf of financial literacy.”
The Connecticut Bankers Association represents the financial institutions in the state of Connecticut, encourages and facilitates the interchange of information and ideas among its members and serves the collective needs of its members, their customers and their communities.