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SMH columnist wrong on Student Banking

22 June 2004

The following letter was sent to the editor of the Sydney Morning Herald.

Wrong, Padraic McGuinness: the Commonwealth Bank has not withdrawn from schools (Banking has changed; not so the bashing, 22 June). In fact, the Bank’s student banking program, which started in 1931, is today stronger than ever, with one out of every two primary schools participating.

Local branch staff also attend schools to talk about saving. And for high school students (and teachers) the Bank’s DollarsandSense website is proving a valuable online financial literacy resource.

Plus, in 2003, the Bank set up the Commonwealth Bank Foundation with funding of $70m. The specific aim of the Foundation is to support financial literacy education for young Australians, including schoolchildren. Happy to discuss these and other educational initiatives with Paddy, any time.

Bryan Fitzgerald
Commonwealth Bank