LAKE SUCCESS, N.Y. , April 25, 2013 /PRNewswire/ -- Astoria Federal Savings, Long Island's fourth-largest bank by deposit market share and the second largest community bank headquartered in New York, today announced the launch of its eighth annual essay contest in celebration of Teach Children to Save Day . The contest asks children ages 5-12 to complete the statement: "If I save a lot today, in the future I could..." and submit their essay to their local branch.
"The children who participate in the Teach Children to Save essay contest never cease to amaze us, and we look forward to helping the children begin to think about the importance of saving," said Brian Edwards, executive vice president of Astoria Federal Savings. "We enjoy getting involved in the many communities we serve, and especially in providing financial literacy programs to help people better manage their finances and understand what it means to save."
Established by the American Bankers Association (ABA) in 1997, Teach Children to Save Day focuses on providing savings education to local youths and encouraging them to become lifelong savers. During the celebration of this day, children and parents throughout Brooklyn, Queens, Nassau, Suffolk and Westchester can visit any Astoria branch to pick up an official entry form for the essay contest, or they can access it online at www.astoriafederal.com. Essays should be no more than 250 words and must be submitted at an Astoria branch no later than May 31.
In addition to the essay contest, students and participants are also invited to join in the other festivities that will be taking place at Astoria branches between Sunday, April 21 and Saturday, April 27. During that time, students are encouraged to stop by and open a free Student Savers account, and Astoria will provide an opening deposit of $5.00. There will also be raffles, bank tours and special giveaways.
In June, an essay contest winner will be selected from each branch, and those winners will go on to compete for the Grand Prize, as well as for first and second prizes in the following age groups: 5-7, 8-10, 11-12. The Grand Prize winner and their school will each receive a new laptop computer, while first prize winners will receive $250 American Express ® Gift Cards, and second prize winners will receive $100 gift cards. In addition, every child selected as a local branch winner will receive a $25 gift card, a Teach Children to Save celebration award certificate, an Education First medal and have their photo taken for community recognition.
Astoria branch managers from throughout its neighborhood network will also participate in its school outreach programs in cooperation with the ABA Education Foundation. Throughout the remainder of the school year, branch managers will visit classrooms and after-school programs to deliver age-appropriate lessons on saving money.
"By engaging children at a young age we are able to help them develop good saving and spending habits that they will carry with them throughout their lives," continued Edwards. "Whether it's figuring out how to make the most of their allowance or budget their paycheck when they are older, it's about setting goals and priorities and planning for the future."
The Teach Children to Save celebration, essay contest and school outreach program, are part of Astoria's Education First initiative, which was created to inspire lifelong learning in the communities it serves. Education First also encompasses the special Student Saver accounts targeted to young people, and includes Kids Tools for School, to help children be prepared on the first day of school by providing them with new school supplies, as well as The First Home Club ™ to promote responsible homeownership.
For additional information about Astoria's Education First initiative, Teach Children to Save celebration, essay contest, and school outreach program, please call 1-800- ASTORIA or visit www.astoriafederal.com.
About Astoria Federal
Astoria Financial Corporation (NYSE: AF), with assets of $16.2 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $10.4 billion, is the largest thrift depository in New York and embraces its philosophy of " Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website, www.astoriafederal.com. Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states. Astoria Federal originates residential mortgage loans through its banking and loan production offices in New York, a broker network in four states, primarily along the East Coast, and through correspondent relationships covering nine states and the District of Columbia. Astoria Federal also originates multi-family and commercial real estate loans, primarily on rent controlled and rent stabilized apartment buildings, located in New York City and the metropolitan area.
SOURCE Astoria Federal Savings