|
ABA Education Foundation
History
In 1925, in commemoration of its 50th anniversary, the American Bankers Association created the Foundation for Education in Economics. The Foundation supported education in economics by sponsoring college scholarships and providing research grants in economics, banking and finance.
For many years, the Foundation focused on granting loans to college students, special students and graduate students majoring in banking, economics or a related subject. Starting in 1964, the Foundation shifted its focus away from granting scholarships and fellowships to making contributions to other economic education organizations.
In 1971, the name of the trust fund was changed to Fund for Education in Economics. It was during this period that the Personal Economics Program was developed and implemented.
In 1992, after considerable discussion and planning, the Fund Board of Trustees voted to change the Fund for Education in Economics to the American Bankers Association Education Foundation (ABA Education Foundation). This change was not simply a name change but also reflected the Board’s decision to seek 501(c)(3) status.
Starting in 1995, the Foundation’s began to focus on providing programs and assisting the banking industry with its consumer education. At the time, its primary outreach program was the Personal Economics Program, established in 1977 as a coordinated effort to assist volunteer bankers to make presentations in their local schools and communities.
Currently, the Foundation is best known for its two annual financial education events: Teach Children to Save Day and Get Smart about Credit Day. On these days, bankers trade in their balance sheets for black boards and teach students the financial facts of life in classrooms across the country. Through these events, nearly 69,000 bankers have taught personal finance skills to more than 3 million children and young adults.
The Foundation also counsels bankers on how to start a financial education program and provides tips and ideas through its monthly e-newsletter, The Spirit of Banking. Other banker resources include the Get Smart about Credit e-Learning program and the Money Talks newsletter series designed for bank’s customers to use when teaching the young people in their life about money management. The Foundation is guided by a board of banker advisors and works in partnership with leading financial education and industry trade groups.
Questions? Contact the ABA Education Foundation.
| 
