Armed with information and good intentions, a group of local students took to the street last Saturday to inform families about the importance of saving for the future.
The students from Esteban Torres High School, Ramona Opportunity High School, and Youth Build High School, joined Pan American Bank for what was billed as a “financial literacy community canvassing event.”
The 20 student volunteers walked the neighborhood to inform residents of the importance of financial literacy and to promote youth savings accounts as a tool to improve college attendance. “Studies have found that youth with a savings account in their name are 7X more likely to go to college,” they said in a press release about the event.
Pan American Bank, headquartered in East Los Angeles, has made financial literacy the hallmark of its mission, going so far as committing to provide free savings accounts with no opening deposit required, no minimum balance and no monthly fee to 14,000 eastside youth. The Bank opens accounts for non-citizens with a Matricula Consular. Interested parents and students should contact Rosario Osornio at (323) 264-3310.