ASPIRE Banking Exercise Gives Students a Practical Head Start on Their Financial Future

Basseterre, St. Kitts, July 16, 2026 (PMO) – ASPIRE Students received 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 exercise allowed students to experience the banking process 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 activity, reinforcing the important role of families in developing positive financial habits from an early age.

Prime Minister and Minister of Finance, Hon. Dr. Terrance Drew, said the initiative was designed to move financial literacy beyond the classroom by allowing young people to apply the principles of saving, investment and responsible money management in a practical setting.

“This is what this exercise is about today,” Prime Minister Drew said. “So I say to our young people, you may not understand the fullness of this at this particular time, but I can assure you that as you grow and you become adults and you recognize the power of what you are being given in terms of setting a sail a strong financial future.”

Adding further significance to the exercise, Prime Minister Drew personally matched the deposits made by each participating student, up to a maximum of EC$200. The initiative provided an immediate boost to the students’ savings while encouraging parents and guardians to continue supporting regular deposits into their children’s accounts.

The Prime Minister encouraged the students to monitor their accounts, save a portion of the money they receive and develop the discipline of distinguishing between immediate wants and long-term needs. He also urged parents to help their children access their account information online so they could actively observe their savings grow.

Under the ASPIRE Program, every eligible citizen between the ages of five and eighteen receives an EC$1,000 contribution from the Government. Of that amount, EC$500 is placed into a savings account, while the remaining EC$500 is invested in shares in local companies. The program is also supported by financial literacy education delivered through the school curriculum.

More than 4,000 ASPIRE accounts have already been opened, with over EC$4 million invested in the financial future of the nation’s children. The program reflects the Government’s wider commitment to equipping young people with the knowledge, assets and confidence needed to build secure and prosperous lives.

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