Education assisted by Katahdin Trust

15 years ago

    HOULTON — Katahdin Trust Company helped achieve the ABA Education Foundation’s nationwide goal of providing one million children with financial education in 2009 by reaching over 1,000 students throughout Aroostook County and northern Penobscot.     The foundation launched the Million Child Challenge on April 21, 2009, its 14th annual Teach Children to Save Day. The ambitious goal was set to help meet the increased demand for financial education caused by the faltering economy. In 2008, bankers reached about 600,000 children through the Foundation’s Teach Children to Save and Get Smart About Credit programs.
    “Many students graduate knowing more about ancient Egypt than managing a bank account, which is scary in today’s economy,” explained Vicki J. Smith, Senior Vice President Marketing & Communications. “The Million Child Challenge gave us a great opportunity to address this problem and help prepare northern Maine’s youth for a successful financial future.”   
    Katahdin Trust Company used the Million Child Challenge as an opportunity to visit classrooms and speak with young people about using money responsibly. Lessons focused on good personal finance skills such as budgeting, saving, building a strong credit history and using credit wisely.
    “Without banks like Katahdin Trust Company, meeting the challenge would not have been possible,” said Laura Fisher, director of the ABA Education Foundation. “We have a big job ahead of us in creating a financially literate America, but bankers have shown they are ready and willing to do their part.” 
    Participating in the Million Child Challenge is just one of the many ways in which Katahdin Trust Company contributes to the communities it serves.   
    Katahdin Trust Company, with roots dating back to 1918, has over $492 million in assets and provides banking services to individuals and businesses from fourteen branch offices in northern Maine, loan production offices in Bangor and Scarborough, and online at katahdintrust.com. Katahdin Bankshares Corp., parent company of Katahdin Trust Company, is listed on the NASDAQ Over-the-Counter Bulletin Board (www.otcbb.com) under the trading symbol of KTHN.