SACO, Maine (September 3rd, 2024) – Saco & Biddeford Savings (SBSI) announced a partnership with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures. Starting today, SBSI customers will have free access to Greenlight’s award-winning family finance app, available through the Greenlight for Banks program.
91% of kids and teens believe they need financial knowledge and skills to achieve their life goals, and 94% of parents agree . Still, only 35 states require a personal finance course for students, and teens score an average of 64% on the National Financial Literacy Test, showing a clear gap in financial education that is accessible and effective. Parents also rank personal financial as the #1 most difficult life skill to teach their children with 81% saying they wish they had more financial education tools and resources .
Greenlight offers a debit card and app that teaches kids and teens how to earn, save, give and spend wisely – all with parental supervision. Using the Greelight app, parents can send money instantly, automate allowance payments, manage chores, set flexible spending control, get real-time notifications of all transactions and more. Kids get hands-on money management experience, along with access to Greenlight Level Up™, an in-app financial literacy game with a best-in-class curriculum, educational challenges and rewards.
“We are thrilled to announce Greenlight at SBSI,” said Mark Jones, CEO & President. “This is a pioneering step that positions us as the first bank in Maine to offer this product. This launch underscores our commitment to providing new services in our relentless pursuit of excellence. We look forward to empowering our customers and their families with this new offering which we feel can contribute to shaping the financial future of the next generation.”
SBSI customers can receive a free* Greenlight Select subscription by registering by clicking here and adding their SBSI account as a funding source. For more information about Greenlight, visit our website https://www.sbsavings.bank/banking/digital-banking/greenlight.
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About Saco & Biddeford Savings Institution
Founded in 1827, Saco & Biddeford Savings is Maine’s oldest bank. For 197 years, SBSI has continued to meet the ever-changing needs of the customers and communities it serves. Fulfilling its commitment to mutuality, SBSI, in conjunction with Paquin & Carroll Insurance, has contributed more than $5.2 million to area organizations over the last 10 years. For more information, visit www.sbsavings.bank, Instagram at @SBSavings, Facebook at @sacobiddefordsavings, or visit one of their locations in Saco, Biddeford, Old Orchard Beach, Portland, Scarborough, South Portland or Westbrook. Member FDIC and an Equal Housing Lender.
*Saco & Biddeford Savings Institution customers are eligible for the Greenlight SELECT plan at no cost when they connect their Saco & Biddeford Savings Institution account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 11/14/2026. Offer subject to change and partner participation.
