How To Teach Your Kids About Money

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OneUnited Bank, the nation’s largest Black bank, is proud to announce its 9th Annual “I Got Bank!” Financial Literacy Contest where ten children will win a $1,000 savings account for the best essays and the best art projects that represent the “I Got Bank!” theme. In addition, OneUnited Bank President & Owner Teri Williams, author of “I Got Bank! What My Granddad Taught Me About Money” (Beckham), will give away signed copies of her book on the following dates and cities (refreshments will be served):

Los Angeles:             Wednesday May 8, 2019, 3:30pm-5:30pm at Jefferson-Vassie D. Wright – Memorial Branch Library, 2211 West Jefferson Blvd, Los Angeles, CA 90018.

Boston:                      Thursday May 16, 2019, 4pm – 6:00pm at Grove Hall Library, 41 Geneva Ave, Dorchester MA 02121.

Why did you write I Got Bank: What my Granddad taught me about money”?

I wrote this book because there are so few books written on financial literacy for children. It was important to me to create a children’s book about money especially for our community. Why not start teaching financial literacy at a young age? I always say if a child reads this book they’ll be rich adults and gain the skills necessary to create generational wealth for lifetimes to come. All the rules of “the system” are covered in a way that a child can understand, retain and put to immediate use.

Tell us about the I Got Bank Youth Essay and Art Competition.

My book was the inspiration for the competition. We’ve presented this incredible opportunity for urban youth for the past 9 years old, and it only gets better and better. Children age 8 to 12 are encouraged to read any children’s financial literacy book (it can be mine or any other) then write a 250 word essay or create a piece of art based on what was learned in the book. We read all entries and whittle it down to 10 essays or art and the winners receive a $1,000 savings account. Deadline for entries is June 29, 2019 – more information at www.oneunited.com/book

 OneUnited has presented this competition for 9 years, how has it changed over the years?

The response to this competition continues to grow and I couldn’t be happier about that. We get entries from all over the country every year and the essays and art are so great, it’s a tough task to pick just ten.  We have learned that our kids are brilliant when given the opportunity to express themselves about money, and it’s made even more special with the chance to earn $1,000 just for reading a book.

Tell us about the Bank Black Movement.

Killer Mike sparked the Bank Black Movement almost 3 years ago when several Black men were killed at the hands of law enforcement. He urged that in addition to protests and marches in response to these murders, Black America should move their money to one of the 19 Black owned banks, even if it was just $100. What Killer Mike knows is it’s always about the money.

Follow the money! The challenge caught on and Black America has responded with over $50 million being moved to Black owned banks since the movement began in summer 2016. Black owned banks are more likely to hire Black people and provide loans to the Black community so it makes sense to #BankBlack and #BuyBlack

PHOTO: OneUnitedBank

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