Piggy Banks and Financial Literacy at Saco & Biddeford Savings

For Saco & Biddeford Savings in Saco, Maine, Financial Literacy Month isn’t just for teaching community members about the importance of money management. The $1 billion-asset community bank puts connection, creativity and joy at the core of its mission to educate, and its Piggy Bank Maker Space event last April reflected those principles.

In partnership with Mill Studio Arts in Biddeford, Maine, the community bank held its third annual Piggy Bank Maker Space, a family-friendly event in which children and caregivers leaned into their creative side and worked together to make take-home piggy banks. 

Participating kids also had the chance to win four tickets to a Portland Sea Dogs baseball game and $100 to open their own youth savings account at the community bank. 

Saco & Biddeford Savings community engagement officer Meg Palmer explained that families talked about personal finance as their kids completed a financial literacy worksheet provided by the bank. 

“We have a sheet of paper where we ask kids, ‘What is the name of your piggy bank? What inspired your piggy bank? What are you saving for? When you are able to save enough and purchase the item, what does that mean to you?’” Palmer said.

She notes that the conversations the event sparked among participating families were immensely valuable.

“It’s fun to see the focus between the parents and the kids, and those are the moments that tie into our values,” Palmer said. “Our mission is to support strong, connected communities, and I think this event accomplished that.”