PRINCETON, N.J., March 30 /PRNewswire/ -- Merrill Lynch & Co. (NYSE: MER)
today announced a joint project with the United Nations Children's Fund and
the U.S. Committee for UNICEF as part of an expanded education campaign to
help improve financial literacy around the world.
This effort will feature the distribution of financial literacy curricula,
"Money Matters for the New Millennium," to schools around the world, as well
as a series of public-service announcements explaining how children can become
"agents of change."
"Merrill Lynch is excited about the opportunity to work with UNICEF in its
effort to empower children around the world to make a difference in society
and build a better future for themselves," said John L. Steffens, Merrill
Lynch Vice Chairman. "Merrill Lynch's long-standing commitment to financial
education complements the leadership of UNICEF in recognizing the universal
right to education for every child."
"The U.S. Committee for UNICEF, through its school-based programs such as
Trick-or-Treat for UNICEF, is committed to teaching children about the
importance of giving to help others," said Diane Whitty, Vice President of
Marketing and Development at the U.S. Committee for UNICEF.
For the past six years, Merrill Lynch has designated April as National
Savings Month(SM) to teach children and families the importance of developing
good financial habits at an early age. "Our research has found that children
who learn about saving at a young age save more later in life than those who
do not," said Jyoti Chopra, vice president and manager of Education Services
for Merrill Lynch.
"Over the past 40 years, the personal savings rate in industrialized
nations has dropped dramatically," Ms. Chopra said. In the U.S. alone, the
personal savings rate has dropped from 11.5% in the 1950s to just under
5% in 1998, according to the Department of Commerce, making it one of the
lowest among industrialized nations.
Educational Tools
In addition to its work with UNICEF, Merrill Lynch this year is expanding
its educational efforts with the development of new, free educational
materials for children, families and schools, as well providing its comic
book, video and savings guides. The materials include:
* A Merrill Lynch "Money Matters" edition of Brain Quest, an educational
question and answer deck for "kids" of all ages, produced by Workman
Publishing Co.;
* New Young Entrepreneur Kits for kids and teens which guide them through
the steps of starting their own businesses;
* An Education Pack for teenagers featuring tips on investing, budgeting,
saving for college, credit management and a glossary of financial terms
and definitions; and
* A special InTime college planning guide produced with Time School
Publishing.
As in past years, Merrill Lynch Financial Consultants will conduct
Teach-Ins at local schools on the importance of saving, offering tips and
sharing fun ideas on ways to save and achieve financial goals. For a seminar
in your area, visit http://www.plan.ml.com/events.
The U.S. Committee for UNICEF works for the survival, protection, and
development of children worldwide through education, advocacy, and
fundraising. Created in 1947, it is the oldest of 37 national committees
around the world that support UNICEF's mission. To find out more about the
U.S. Committee for UNICEF, call 800-FOR-KIDS or access its homepage at
http://www.unicefusa.org.
The Merrill Lynch Private Client Group serves more than four million
households, small- to-mid-sized businesses and regional financial institutions
using a planning-based financial-service approach. Among the many services
available to Merrill Lynch clients are brokerage, personal credit, insurance,
home financing and trust services, as well as retirement and group-employee-
benefit services and business financing.
Merrill Lynch clients are served by more than 18,200 Financial Consultants
in more than 900 branch offices worldwide. As of year-end 1998 investors had
entrusted Merrill Lynch with more than $1.4 trillion in client assets.
SOURCE Merrill Lynch & Co.
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Related links:
http://www.merrilllynch.com
Company News On-Call:
http://www.prnewswire.com/comp/555800.html or fax,
800-758-5804, ext. 555800
CONTACT:
Wendell Collins of Merrill Lynch,
609-282-3121, Wendell_Collins@ml.com; Marissa Buckanoff of United
States Committee for UNICEF, 212-922-2485,
mbuckanoff@unicefusa.org
NOTE TO EDITORS: If you are a client of AP Television, APTN will
be carrying video coverage of today's "Teach-in" with PS 134
launching the new UNICEF-Merrill Lynch curriculum; if you are not
an APTN subscriber, please call Fred Yager at MLTV for footage,
212-449-7355.
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