STATE TREASURER TOUTS SAVINGS PROGRAM TO SCHOOLCHILDREN

State Treasurer Bob Holden touted the value of savings to fifth graders at Clippard Elementary School Friday.

Holden visited the school to promote the "Dollar$ and $ense" program in which banks assist schools in teaching money management to students.

The program began as a pilot program involving 350 students in six Kansas City schools two years ago. The students saved over $7,000 in five months, Holden said.

The bank-at-school program was expanded to the whole state last year.

This year, the project has doubled in size to include more than 400 classrooms, 200 banks and over 10,000 students.

It is a voluntary program on the part of banks and schools. They can target the program to third, fourth or fifth graders.

In Cape Girardeau, South East Missouri Bank is working with 105 fifth graders at Clippard and Washington elementary schools.

The bank provides each fifth grader with a savings account and puts a dollar into each account. Students then are encouraged to place their own money into their savings accounts and watch their investments grow.

Once a month, bank representatives visit the schools to allow students to make deposits and help teach the children various aspects of money management.

Ginger Lemonds, investment executive with South East Missouri Bank, said the bank will accept pocket change from the children.

"We are taking quarters, dimes, whatever," she said.

The program kicked off locally two weeks ago, with some fifth graders depositing bags of pennies.

Holden said he wants Missouri to have the largest number of children savers in the nation.

Students told Holden they want to save money to buy everything from cars to a college education.

"If you start saving today, you'll have the money to do it," he said.

Last year, participating students statewide saved $22, on average.

Holden said the state's role is to match banks with schools. Holden and his staff spend less than $5,000 a year promoting it.

"To me, it shows how government can be the most effective," he said.

Holden has been mentioned as a possible Democratic candidate for governor in 2000. But he told reporters Friday that he wasn't looking ahead to that election.

He said that if he doesn't do a good job as treasurer, he won't even have a shot at being governor.

Holden is in his second and final term as state treasurer. "I cannot run for re-election," he said.

He said he plans to work for passage of a measure that will be on the November 1998 ballot. It would make changes in the state's investment procedures that could generate an additional $7 to $10 million a year in interest on state funds.

Holden said the state has earned over half a billion dollars in interest on its investments in the last five years.

The state treasurer doesn't get the public attention that other statewide officeholders do.

But Holden said, "It is probably the most fundamentally important office other than governor because it deals with the money."

Said Holden, "I think we have built a solid record in fiscal management, economic development and job creation."

Holden said those are "meat and potato" issues that affect all Missourians.