Children Save a Record Amount through the YPS “Piggy Bank” Program

United Way of Southern Nevada’s (UWSN) Young Philanthropists Society (YPS) is proud to announce that a record-breaking 1,065 children saved over $70,000 with approximately 70 percent participation through the unique “Piggy Bank” savings program during the 2016-17 school year.

The only program of its kind in nation, this financial program incorporates learning through actual banks at Bracken, Long and Hollingsworth STEAM Academies. Designed to teach students financial capability through learning and doing, this fun, hands-on interactive program incorporates classroom curriculum along with experiential learning through actual bank accounts to teach the power of saving. Curriculum includes needs versus wants, goals, budgeting, smart spending and banking.

Over the past five years, YPS collaborated with community partners Silver State Schools Credit Union (SSSCU), Andson Inc., Nevada State Treasurer’s Office and Bracken, Long and Hollingsworth STEAM Academies to "incubate" a program that has received national acclaim for being innovative. The “Piggy Bank” has been recognized as a Mutual of America 2016 Community Partnership Awardee and as a model program by the Corporation for Enterprise Development (CFED).

“‘Piggy Bank’ is a great example of how United Way builds capacity for local organizations,” said Bob Morgan, UWSN President and CEO “We work together to improve lives by supporting innovative programming that tackles multi-generational poverty utilizing cross-sector collaboration.”

“The idea that three organizations can come together to pioneer a new program like The Piggybank still inspires me,” said Anthony McTaggart, COO for Andson. “Building a network from stakeholders and community agencies, and holding ourselves accountable through deep data collection is how we have been so successful. What we’ve learned by creating outcome-based programming in conjunction with United Way and Silver State Schools Credit Union is a model for any community interested in this sort of financial capabilities work.”

Led by YPS co-chairs Justin Micatrotto and Timara Marquis, YPS members volunteered their time to create the program and construct, decorate and paint the rooms housing the “Piggy Banks” that include bank teller counters and wall decals with money saving tips.

From its 2012 opening to date, more than $230,276 was saved by more than 2,300 children. Through programs like the “Piggy Bank,” United Way of Southern Nevada works to increase the financial success of the community by building a solid foundation for families and individuals to obtain economic independence.