Victory State Bank Brings Money Management Into Staten Island Classroom

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STATEN ISLAND, N.Y. — Victory State Bank delivers education – literally.

Anna Williams, Victory State Bank first vice president and Community Reinvestment Act officer, shares financial know-how with students at Morris Intermediate School (IS 61) in the Staten Island community of Brighton Heights.

Representatives from Staten Island’s only community-based commercial bank recently visited Morris Intermediate School (IS 61) in Brighton Heights, in the spirit of  a “Teach Children to Save” initiative.

A total of four lessons were given to classes of approximately 30 students each.

 “Good financial habits can begin early,” said Ralph Branca, president and CEO of Victory State Bank.  “We hope to make a difference in the lives of students by providing them with key money-management skills during their formative years.”

The financial lesson plan included such essentials as “setting goals, decision making, budgeting and pooling money,” said Tracie Diggs, community development officer at Victory State Bank. “The students worked in groups of four and devised a budget for a mock birthday party.”

Each lesson included a worksheet, predetermined budget and instructions.

 The students responded positively to the team setting, said Anna Williams, Victory State Bank first vice president and Community Reinvestment Act officer.

 “The children learned and had fun at the same time. We met our objectives of teaching them how to identify income and expenses; create a simple budget; recognize the benefits of pooling money, and consider ways to keep their money safe,” Ms. Williams said.

 Each student received a calculator and pen, several pieces of literature titled, “Careers in Banking” and “Banking Terminology” for future reference.

About Victory State Bank

VSB Bancorp Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a Staten Island-based commercial bank, commenced operations on Nov. 17, 1997.  The Bank’s initial capitalization of $7.0 million was primarily raised within the Staten Island community. The Bancorp’s total equity has increased to $26 million, primarily through the retention of earnings. Victory State operates five full-service locations on Staten Island: The main office in Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank.

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