Howard Bank Wins Second Financial Literacy Award

 

Howard Bank has won the Independent Community Bankers Association’s 2008 Financial Literacy Award. This is the second honor for the local bank’s efforts to improve money management skills and encourage saving among its customers. In September, the bank won the Maryland Bankers Association’s 2007 Consumer Education Award in the Adults and Seniors Category.

Howard Bank is the county’s only locally owned and operated bank.

“As the county’s only locally owned and operated bank, we’re committed to the people of our community,” says bank chairman, president and CEO Mary Ann Scully. As she and her staff see it, part of that commitment is helping customers — from children to senior citizens — better manage their money.

The ICBA award recognizes the bank’s efforts to encourage kids to save.

In partnership with Clemens Crossing, Running Brook and Waterloo Elementary Schools in Columbia and Resurrection St. Paul’s School in Ellicott City, Howard Bank set up in-school banks where students can deposit money in savings accounts.  There is no minimum opening deposit, minimum balance and/or service charge. The banks are open every other week and are staffed mainly by students who serve as tellers, security guards and marketing reps.

“We’ve found that these partnerships enable us to address large groups of children on a regular basis and make saving fun,” Relationship Manager and Vice President Christa Spalding says.