Saco & Biddeford Savings is partnering with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures, according to the bank. Starting today, SBSI customers will have free access to Greenlight’s award-winning family finance app, available through the Greenlight for Banks program.

Ninety-one % of kids and teens believe they need financial knowledge and skills to achieve their life goals, and 94% of parents agree. Still, only 35 states require a personal finance course for students, and teens score an average of 64% on the National Financial Literacy Test, showing a clear gap in financial education that is accessible and effective. Parents also rank personal finances as the #1 most difficult life skill to teach their children with 81% saying they wish they had more financial education tools and resources.

Greenlight offers a debit card and app that teaches kids and teens how to earn, save, give and spend wisely – all with parental supervision. Using the Greenlight app, parents can send money instantly, automate allowance payments, manage chores, set flexible spending control, get real-time notifications of all transactions and more. Kids get hands-on money management experience, along with access to Greenlight Level Up™, an in-app financial literacy game with a best-in-class curriculum, educational challenges and rewards.

“We are thrilled to announce Greenlight at SBSI,” said Mark Jones, CEO and president. “This is a pioneering step that positions us as the first bank in Maine to offer this product. This launch underscores our commitment to providing new services in our relentless pursuit of excellence. We look forward to empowering our customers and their families with this new offering which we feel can contribute to shaping the financial future of the next generation.”

SBSI customers can receive a free* Greenlight Select subscription by registering by clicking here and adding their SBSI account as a funding source. For more information about Greenlight, visit the website sbsavings.bank/banking/digital-banking/greenlight.