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From Nickels & Dimes to the Federal Reserve
Forty-one children from the YMCA summer day camp participated in
the Savings Makes Cents Program implemented as part of the NBEDC
Community Outreach program with the help of Downtown New Bedford
Inc, Citizens Union Savings Bank, Community Development, and the
Economic Stabilization Trust.
YMCA Executive Director Michelle Rodericks and Youth Director
Maxine Hebert, lead the children through a series of activities
in preparation for the climax of the program—a trip to Boston
and a tour of the Federal Reserve Bank. For some, this was their
first visit to Boston. The children behaved magnificently and
were great ambassadors for the city of New Bedford.
To help save their money, the children created their own piggy
banks as part of an art project. They made weekly contributions
or “deposits” to save spending money for the field trip. Prior
to embarking for Boston, the children were greeted by Kevin
Pelland, Vice President at the Citizens Union Savings at the
bank’s headquarters in downtown New Bedford. Mr. Pelland
explained how important it is to save money, how money earns
interest, and how money is re-invested after deposits are made.
The children enjoyed walking around the bank, interacting with
bank employees and peeking in the vault. The bank made a $1.00
contribution to each of the children’s piggy banks.
At the Federal Reserve Bank, Beth Badger from the Trust greeted
the youngsters and later acted as tour guide around the city of
Boston. The children toured the Federal Reserve Bank and
participated in fun learning activities. They had lunch at the
food court in busy South Station. While they were able to spend
their savings on lunch or dessert, the day campers learned they
could save some money for buying something else at another time.
After lunch it was off to Faneuil Hall –the kids where dazzled
by outside musicians, street performers, and even magicians.
This was the second annual trip for the NBEDC. Last year 40
children from the YWCA participated and we are looking forward
to working with more youth next year. |
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