[Congressional Record Volume 153, Number 66 (Tuesday, April 24, 2007)]
[Extensions of Remarks]
[Page E839]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

[[Page E839]]


          HONORING SARIE TOSTE OF HUMBOLDT COUNTY, CALIFORNIA

                                 ______
                                 

                           HON. MIKE THOMPSON

                             of california

                    in the house of representatives

                        Tuesday, April 24, 2007

  Mr. THOMPSON of California. Madam Speaker, I rise today to recognize 
Sarie Toste, a distinguished educator in Humboldt County, California, 
and a recognized leader in educating young children on the importance 
of learning to save money. Sarie spearheads a program in elementary 
schools across Northern California that helps child learn the 
fundamentals of financial literacy.
  Sarie initiated the first ``Learn to Earn'' program 11 years ago as 
the superintendent at Pacific Union Elementary School, when she 
realized that the children did not understand that they could save 
their money, watch it grow and help realize future dreams.
  ``Learn to Earn'' is a collaborative effort with a regional financial 
institution, Umpqua Bank, which provides weekly on-campus banking. The 
children sign up, deposit $1 and receive a passbook. Every week a bank 
representative visits the school and accepts student deposits. The 
children set savings goals, calculate interest earned and watch their 
account grow.
  With over seventy schools throughout Northern California, the nearly 
6,000 young savers have banked $1.5 million making ``Learn to Earn'' 
the largest, most successful school savings program in California. The 
curriculum that has been developed helps teachers introduce the basic 
concepts of sound money management.
  This is in sharp contrast to the savings habits of our nation's 
adults. Today, America's savings rate is negative, the lowest rate 
since the Great Depression. Even more alarming is the dramatic increase 
in personal debt, which has grown over the past decade by approximately 
300 percent.
  Madam Speaker, it is appropriate that today, on ``National Teach 
Children to Save Day'' we recognize the outstanding commitment of Sarie 
Toste for her foresight and dedication to the future of our children 
and teaching them how to ``Learn to Earn.''

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