, Newburyport, MA

Local News

April 11, 2013

Bank helps students understand financial world


This year’s volunteer pool included local doctors, attorneys, company CEOs, CPAs, Chamber executives, retired educators, financial planners and lenders, as well as a number of volunteers from the Federal Deposit Insurance Corporation (FDIC).

Former high school principals John Elwell and Mary Larnard manned the Education and Training Booth, while Dr. Daryl Colden and physical therapist Rick Silverman were just two of the volunteers at the Nutrition booth.

Financial planners Tyler Dolan and John Leary guided students on saving and investing for the future wealth, while in the booth next door, Topsfield police Sgt. Rick Lebel, Ipswich school resource officer Shawn Smith and Newburyport High School resource officer Greg Whitney cautioned students on subjects such as identity theft, texting while driving and other safety issues. Nearly 50 of the bank’s own employees and board of trustee members were also volunteers.

“Recent statistics indicating that students are leaving high school with severely limited financial knowledge and skills are very troubling,” said Michael J. Jones, Institution for Savings president and CEO, in a press release.

“This event has been overwhelming successful here and in other regions at helping high school students navigate the myriad of financial decisions they will need to make as they go off into the world of work or college. It fits in nicely with the bank’s comprehensive financial literacy initiative we launched last year to educate different segments of our community about financial skills, and we were happy to be able to bring it to our communities.”

One student wrote on his post-event evaluation: “It was a really good day! I learned a lot and it made me realize how much my parents go through.”

Elwell said of the event: “Just wanted to take a moment to commend you and your staff for the well-organized and effective Credit for Life Fair. I was amazed at how so many students were actively and maturely engaged in the activities. Having been involved in planning events such as this so much in the past, I can fully appreciate the planning, effort, and anxiety that can takes place while pulling something like this off.

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