PNC Financial Services Group and the PNC Foundation have announced the launch of a $12 million initiative that will provide financial education instruction and materials to preschoolers, parents, caregivers, and teachers throughout the bank's fifteen-state service region as well as the District of Columbia.
The initiative includes $7 million for education materials and a public awareness campaign and $5 million in grants to nonprofits that provide financial education and training. Recipients include the Newark Public Library, which was awarded $300,000 for a program that offers city children lessons in spending, saving, and sharing and teaches parents how to reinforce the lessons at home; and Montclair State University, which received $260,000 to provide professional development opportunities to preschool teachers across seven counties in northern New Jersey.
As part of the initiative, PNC expanded its partnership with Sesame Workshop, which this spring and summer will distribute one million bilingual educational kits. The kits include an original Sesame Street DVD, a parent/caregiver guide, and a children's activity book that introduces concepts of spending, sharing, and saving.
"By expanding our efforts with [Sesame Workshop], we can help young children better understand that everything has value," said PNC chair and CEO James E. Rohr, "and show parents how to turn everyday moments into financial learning experiences for their kids."