NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Mutual of America announced today that Piggy Bank Project was named a Merit Finalist award recipient in the 2016 Community Partnership Award competition.
Piggy Bank Project was launched in 2012 by Andson, Inc., a Nevada-based nonprofit, to provide hands-on financial literacy training to young children at an age when healthy money behaviors can be more easily formed. Andson partnered with United Way of Southern Nevada Young Philanthropist Society and the Silver State Schools Credit Union to develop the Project. More than 2,000 students at three elementary schools participate in Andson's year-round financial literacy program. They're encouraged to set savings goals and make deposits at a "bank" Andson sets up at their school. Those deposits are kept by the Silver State Schools Credit Union in savings accounts. At the end of 5th grade, students are given the option to convert their Piggy Bank savings into a regular savings account or withdraw them. "Since 2012, Clark County elementary students have saved $160,187," said Anthony McTaggart, co-founder and COO. "We're working to reach even more students through our Bank on Wheels - a mobile Piggy Bank we're developing to reach not only schools but also libraries, community centers and additional locations throughout the county."