Standing in front of a roomful of students, Randy Kunkle was back at the school where he spent his kindergarten days.

The regional community reinvestment officer at M&T Bank had gotten a lot taller and picked up bits of wisdom about money since his time at R. Elisabeth MacClary Elementary in Newark. That’s why he was here: To share insights on finances with third-grade students as part of the annual Teach Children to Save Day. This event, which takes place every spring, is one of a number of economic educational events offered throughout the year in partnerships between schools, teachers, organizations and the University of Delaware’s Center for Economic Education and Entrepreneurship at the Lerner College of Business and Economics.

Kunkle read the children a tale from a comic book written by Greg Koseluk of the Delaware Bankers’ Association. It’s part of a series featuring magician the Great Investo, whose money skills could use some refinement. He gets advice from his common-sense assistant Penny as they take readers on educational journeys through topics like how money in banks benefits the community and how they can save for personal goals.

There were “Wows” and laughter from the students as the Great Investo accidentally made a giant but useless dollar bill in an ill-conceived get-rich-quick scheme, and they helpfully chipped in screeching sound effects for car tires when the scene calls for it. After the session, they waved their hands for the chance to answer Kunkle’s questions. 

These kinds of events not only educate, but help make teachers aware of the many professional development opportunities and instructional materials CEEE offers.

“It’s not just this one-day event, we have lots of wonderful lessons that you can use in your classroom to take this a step further with the students,” said Bonnie Meszaros, longtime associate director of CEEE, who is moving into a part-time role this year. 

CEEE also has a Bank at School Program that allows children to earn a small amount of interest during the year. “It’s really about that whole habit to get kids into the idea of saving,” Meszaros said. 

Every year for Teach Children to Save Day, volunteer bankers fan out to schools around the state. This past April, 200 third- and fourth-grade classroom teachers registered with nearly 5,000 students participating. 

The series of visits that spread out over the course of one week allow the volunteers from many area banks to visit multiple schools. It’s a partnership between CEEE and the Delaware Financial Education Alliance, an offshoot of a larger national effort through the American Bankers Association. 

Teacher Lisa Lemmon said when the district sent out the email about participating, “I immediately signed up because I knew I wanted to take advantage of it.” 

Lemmon’s goal as a teacher is to have well-rounded students. Her take is that when someone new comes in to present in the classroom, it opens up a whole world of questioning, and you never know what that will lead to. 

“They hold onto these memories, they really do,” Lemmon said.

“I think economics is one of those things that kids need to start (learning) at a young age,” she said. “Financial responsibility is imperative in our society, work ethics (are) imperative in our society, and I think if we don’t teach it and we don’t focus on it at school, it’s not always going to be addressed, necessarily, in the home.” 

Her students had plenty of questions for Kunkle. They were particularly interested in how much money he makes — he sidestepped that one, informing them he earns more than $15.  

When responding to the question “What is interest?” a student guessed, “It’s when you like money?” When Kunkle explained the concept, one boy asked, “So if that happens, you’re technically getting free money?” 

The youngsters came up with a range of ideas for items they could save for in the short term, from a bunny to a trip around the world. Prompted to ponder their adult future, they suggested saving for a car or a house. One far-seeing child mentioned retirement. 

The event has been running long enough that some of the children’s parents may have taken part. Meszaros helped develop the program 25 years ago. 

Back then, she said, “Not much attention was given to the importance of saving with young children in the schools.” In consultation with members of the Delaware Bankers Association, Meszaros reviewed the national program. She felt they could improve the curriculum, so they developed their own. 

“I thought it was really important that we help students understand why they should save (and) the idea of compound interest,” she says. “... We know they have interest in money at a young age.” 

She wanted to communicate the ethic of saving, starting with a little and growing it over time, which makes a difference for future financial stability, Meszaros said. 

Kunkle said volunteering to work with kids for this day is popular at M&T bank, where 45 volunteers stepped up this past spring, the most of any participating bank. He’s volunteered to go to schools for the event for about 15 years now. 

He tries to educate people of all ages about financial basics. “I didn’t have parents who talked to me much about it,” he said. “I probably learned the hard way, as a young adult, the issues of getting a credit card and not balancing your checkbook.” That’s often the case in families, he thinks, and noted that not all Delaware school districts have added financial literacy courses. 

He’s seen more awareness of the basics among students over the years — when he asks students in third and fourth grade how many of them have a bank account, he sees more hands than he used to. 

“If we help one child understand (how money moves through the economy), it’s one more child than knew about it yesterday,” Kunkle said. 

Looking back at the way the program has grown, Meszaros said, “It’s very satisfying to know that you’ve created something that teachers and bankers continue to find valuable for students.” 

The Center for Economic Education and Entrepreneurship aims to promote financial literacy so that Delaware schoolchildren can learn the economic skills they need to thrive. Many CEEE programs that support this vision are possible, in part, because of a recent generous gift from UD alumni Robert Siegfried, Jr., C.P.A., BE81, and Kathleen Siegfried, AS85. The Siegfrieds are long-time supporters of entrepreneurial and leadership-focused initiatives at the University.