Basseterre, St. Kitts (PMO) – ASPIRE students gained valuable hands‑on exposure to the banking system yesterday, Wednesday, July 15, during an interactive savings account deposit exercise at the St. Kitts‑Nevis‑Anguilla National Bank.
The activity allowed students to experience banking procedures firsthand by completing deposit slips, interacting with bank tellers, making deposits into their personal ASPIRE savings accounts, and reviewing their account balances. Parents and guardians accompanied the students throughout the process, reinforcing the important role families play in helping children develop positive financial habits from an early age.
Prime Minister and Minister of Finance, Hon. Dr Terrance Drew, explained that the initiative is designed to take financial literacy beyond the classroom, enabling young people to apply the principles of saving, investing, and responsible money management in practical settings.
“This is the purpose of today’s exercise,” Prime Minister Drew said. “I say to our young people: you may not fully understand the significance of this right now, but I assure you that as you grow into adulthood, you will recognise the value of what you are learning — and how it sets the course for a strong financial future.”
Adding further incentive, Prime Minister Drew personally matched each participating student’s deposits, up to a maximum of EC$200. This gesture provided an immediate boost to their savings while encouraging parents and guardians to continue supporting regular contributions to their children’s accounts.
The Prime Minister encouraged students to monitor their accounts, set aside a portion of any money they receive, and build the discipline to distinguish between immediate wants and long‑term needs. He also urged parents to help their children access account information online, so they can actively watch their savings grow over time.
Under the ASPIRE Program, every eligible citizen between the ages of five and eighteen receives an initial contribution of EC$1,000** from the Government. Of this amount, **EC$500 is placed into a savings account, while the remaining EC$500 is invested in shares of local companies.
The program is further supported by financial literacy lessons integrated into the school curriculum.
To date, more than 4,000 ASPIRE accounts have been opened, representing over EC$4 million invested in the financial future of the nation’s children. The initiative reflects the Government’s broader commitment to equipping young people with the knowledge, assets, and confidence required to build secure and prosperous lives.
