Torrington Savings Bank Partners with Greenlight on Financial Literacy Month to Help Parents Raise Financially Smart Kids and Teens

Torrington Savings Bank is pleased to announce their partnership with Greenlight® Financial Technology, Inc. (“Greenlight”) to better serve families and help the next generation build healthy financial futures. Starting today, aligning with the Bank’s mission to offer financial literacy education, Torrington Savings Bank customers will have free† access to Greenlight’s award-winning family finance app, available through the Greenlight for Banks program.

April is National Financial Literacy month and 91% of kids and teens believe they need financial knowledge and skills to achieve their life goals. 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 finance 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 quickly send money, automate allowance payments, manage chores, set flexible spending controls, 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.

Jennifer Silva, VP of Marketing at TSB recently began testing the Greenlight app with her 13-year-old son during the Bank’s Friends and Family rollout of the program. She states, “Greenlight truly is a parent’s partner in teaching financial literacy in a way that’s both educational and easy to use. Incentivizing for things like chores & tracking how money is being spent is building a solid foundation around finances and providing my teen the confidence to make healthy money choices – all in one secure platform. Plus, the ability to add his debit card to his phone’s digital wallet provides me the peace of mind that if cash or the debit card is ever lost, he’ll still have access to money whether on school field trips or out and about with friends.”

Torrington Savings Bank customers can receive a free† Greenlight subscription by registering at TorringtonSavings.bank/greenlight and adding their TSB account as a funding source.

Lesa Vanotti, Torrington Savings Bank’s President & CEO states, “TSB is thrilled to be one of the first banks in our market to offer a secure and fun financial education option to our young customers. This tool allows us to connect with our young customers and their parents or caregivers as a partner to form healthy financial habits that will stay with them well into adulthood.”

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†Torrington Savings Bank customers are eligible for the Greenlight SELECT plan at no cost when they connect their Torrington Savings Bank checking account as the Greenlight funding source for the entirety of the promotion. Subject to minimum balance requirements and identity verification. Upgrades will result in additional fees. Upon termination of promotion, members will be responsible for associated monthly fees. See terms for details. Offer subject to change and partner participation.
*Survey insights were collected by Greenlight through a Researchscape survey fielded between March 22 and March 24, 2024, among 2,310 respondents in the U.S., split between kids and teens ages 10-19 and parents of 10–19-year-olds.
**Survey insights were collected by Greenlight through a Researchscape survey fielded between February 9-12, 2023, among 1,034 U.S. respondents, all of whom were working parents of 8-18 year olds.

© 2025 Greenlight Financial Technology, Inc. Patents Pending. The Greenlight card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.

Posted on: Wednesday April 9, 2025