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70 participants and over $120,000 in deposits spurred by highly successful educational program
(Leominster, Mass.) Fidelity Bank’s drive to boost youth financial literacy skills took Central Massachusetts by storm this summer with over 70 young entrepreneurs learning to run businesses, save money, and have fun through the Bank’s Lemonade Learning Club. All told, participants saved over $120,000 through the three-month program.
The program, which ended on August 31, was designed to teach young people, aged 18 and under, about the basics of running a business, saving money, budgeting, and other money management skills.
Following enrollment in a Fidelity Bank Growth Savings account, children received a comprehensive lemonade stand starter kit, including a one-gallon pitcher, wooden mixing spoon, lemonade mix packet, apron, money bag, stickers, flyers, and a lemonade recipe book. In addition, they received valuable support materials on the basics of running the business, including how to track sales and expenses, calculate profit along with simple-to-use worksheets, and a glossary of basic financial terms.
“The sheer number of kids and their zest for this program proves that you can never start learning too early about the importance of earning, budgeting, saving, and spending,” said Sheila King-Goodwin, chief community banking officer, Fidelity Bank. “Our Lemonade Learning Club takes a caring approach to teaching children the importance of saving money while giving them the clarity and confidence to make informed financial decisions, which is what our LifeDesign banking promise is all about.”
Although the program has officially ended for the summer, fun and engaging learning resources remain available to parents and their children, including blogs and recommended age-appropriate books.
“The Lemonade Learning Club provided a fun catalyst to boosting the financial literacy of our youth,” added King-Goodwin. “We have been impressed with the creativity and ingenuity of these young entrepreneurs and we look forward to kicking off a new season next summer.”
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About Fidelity Bank:
Founded in 1888, Fidelity Bank is one of the strongest independent community banks in Central and Eastern Massachusetts. For more than 20 years, Fidelity Bank’s unique LifeDesign approach to banking is a promise to provide the care and clarity needed to make informed decisions with confidence. The Bank offers a range of personal and business banking solutions to clients in 13 full-service banking centers in Leominster, Worcester, Fitchburg, Needham, Gardner, Shirley, Barre, Millbury, Paxton, Princeton, and Winchendon. The Bank has consistently earned a “5 Star” rating from BauerFinancial, Inc., the nation’s leading independent bank rating and research firm. Fidelity Bank was the only bank in Central and Western Massachusetts recognized as one of Forbes “America’s Best Banks in Each State 2022,” in addition to being voted Worcester Telegram & Gazette Best Financial Services in Central Massachusetts and placing on the Boston Globe’s Top Places to Work list six times. As of June 30, 2024, the bank had total assets of approximately $1.5 billion. For more information, visit fidelitybankonline.com.
