May 30, 2003

PEOPLE'S BANK EXECUTIVES TEACH "PRINCIPLES OF BANKING" TO LOCAL FIFTH GRADERS

Mansfield Middle School Students Benefit from Bankers' Expertise

BRIDGEPORT, CONN. - Executives from the People's Bank Storrs branch presented "Principles of Banking" to more than 150 fifth graders at Mansfield Middle School on May 30. Wendi Richardson, assistant vice president and financial services manager at People's, and Sandra McCartney, senior financial services associate, combined their financial expertise with their commitment to the community in facilitating the 40-minute course, which they designed. They plan to offer the class to other area schools in the coming year.

"At the UConn branch," said Richardson, "we've seen lots of college students who are unfamiliar with how to write checks or balance a checkbook. By teaching the basics of banking at an early age, we hope to give the children a strong foundation in the basics of handling money. People's is very involved in our communities and youth development is a key focus for the bank so we really see this as a terrific opportunity for us as well as the students."

The course covers the history of money, checking/savings accounts and the principle of compounding interest. The class is geared toward fifth graders because they study money as part of their math lessons and are familiar with decimals and other mathematical concepts essential to understanding money and banking.

"To keep the children involved," added McCartney, "we designed the course with rewards for spot quizzes and lots of participation." McCartney said that, courtesy of the bank, each class also will receive a copy of The Wall Street Journal Guide to Understanding Money and Investing, published by Light Bulb Press.

People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with assets of $12 billion, 155 branches and more than 230 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 19th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.