Piggy Banks Info

Greetings all! Today we proudly welcome 2 brand new lines of piggy banks to our product line. The first category is called the the Wade Ceramics Porcelain Banks, and just in case you’ve never heard of Wade Ceramics, they are a legacy of fine ceramic production in the UK. Having been producing fine earthenware and porcelain crafts since 1810 (that’s right –almost 200 years), their product lines have been considered collectibles the world over for decades. The detail and craftsmanship of their ceramics is truly remarkable and has justifiably made them as internationally popular as they are. And speaking of craftsmanship, have you ever seen solid oak or walnut safes combined with antique post office box doors? Well, if you visit our Wooden Combination Safe Coin Banks category you can say you have. A beautiful vintage appeal is exhibited by the combination of the old doors (2 styles are generally offered) with the fine walnut or oak wood. These works of art are all completed with a brass plate around the coin slot at the top. Let us know your comments about these new products and stay tuned for many more new additions!

MARYLAND: Five police dogs are being given special bulletproof vests to protect them for duty, thanks to 2 different organizations: Protect-a-dog (California based) and Frederick County Justice for Dogs. Frederick County K-9 dept is still trying to raise money for 2 more vests that they need, and are relying on the collections from piggy banks that have been placed throughout businesses in the local community. The needed funds to protect the other 2 dogs is approximately $800. Justice for Dogs plans to approach local veterinarians to secure additional placements for these piggy banks. [news source: gazette.net; Bulletproof vests for dogs provides justice, written by Christina Lee]

A family in Humboldt, Wisconsin is responsible for creating a fresh boardgame on the market. Geared towards teaching financial education to children, Bank “O” La first began to take form when Tricia and Bryan Fontaine made up a game on a sheet of paper to help their daughter Brooklyn count nickels, dimes, and quarters. They eventually used 4 sheets of paper for the board; game pieces and piggy banks were incorporated to complete their project. Soon the entire family got hooked on playing the game, providing the inpiration to turn their creation into an educational product for others to enjoy. They invested $40K to produce 5,000 units of the game, which they are now marketing to distributors. Thanks to a demonstration provided at a teachers’ convention in Green Bay, some talk has already been generated about it’s application in the educational system. Thanks to the Fontaine family for taking a chance with their original idea while facilitating children’s financial wisdom in the process. [news source: Green Bay Press Gazette, “Family is counting on Bank ‘O’ La game”, 08-02-06, written by Mike Hoeft]

In Wisconsin, the president of Central States Warehouse began a mentoring program for kids by first having 11-year old D’Andre McNeill “shadow” him for a day while he ran the company. The president, Cliff LeCleir, credits the origin of the mentoring program to a piggy bank he received while applying for a loan at a Wells Fargo bank. It was perhaps the design of the piggy bank, a little red stagecoach, that frequently prompted people to touch it or pick it up when they saw it. LeCleir says he started charging a quarter per touch as a joke. Charging for each touch may have started out as a joke, but now it appears to be more of an inspired decision as enough money was raised to unfold his mentoring program into existence for deserving children. This story provides a good example of why we observe piggy banks to be a symbol of prosperity. The magic of piggy banks’ giving back can be experienced by those who do not even come into contact with them; prosperous experiences will enrich lives whenever a piggy bank is given some attention. [news source: La Crosse Tribune, “Piggy bank inspires mentoring program” 7-26-06; written by Jenny Dolan]

Did you know that there is a National Teach Children to Save Day? Established by the American Bankers Association’s Education Foundation, this day recognizes the importance of educating America’s youth about saving money. Designated for a Tuesday in the last week of April, the event includes bankers in all parts of the country making presentations to children in grades K-12. This year the event took place on April 25th, and the word is it was the largest combined effort yet.

In Houston, Texas a creative event called Piggy Banks on Parade took place in the 2 weeks surrounding National Teach Children to Save Day. As part of the event, a contest was held in which children in grades K-8 could paint piggy banks in a local pottery studio and enter them for prizes. Kids began painting their piggy banks in mid-March, and these piggy banks were eventually displayed ‘on parade’ at a local Community National Bank, who sponsored Piggy Banks on Parade for the 3rd year in a row. Prizes were finally awarded on April 29th, with recognition going to the “richest piggy bank”, “most creative piggy bank”, and “piggy bank with the most personality.” CNB provided five dollars to each participating child toward the opening of an in-house savings account. Also sponsoring the event were Mad Potter-Bellaire (the pottery studio which facilitated the painting) and The Bellaire Buzz Magazine. Kudos to everyone involved for promoting much needed financial literacy for today’s youth. In 2007, National Teach Children to Save Day will be April 24th. [news source: Houston Business Journal, March 6, 2006, “Bank sponsors piggy banks event during ‘Teach Children to save’”, by Thora Qaddumi]

‘The Piggy Bank’ would seem like an appropriate name for a barbeque restaurant, and it happens to already be taken. In Beacon, New York an old bank building was eventually adapted to become a popular barbeque diner. What is most notable about the restaurant’s structure is the authentic bank vault that remains behind the bar; the vault is now used as the wine cellar. In renovating the building, the owners decided to also include an open kitchen design that now allows customers to view the authentic Piggy Bank smoker at work. The restaurant boasts it’s southern knowledge of “Real Q” (slow cooked pork made over smoldering hardwood at low heat), but not having tried it (yet), we can at least compliment the restaurant on it’s name for now. Please visit The Piggy Bank’s website to see their menu and directions.

Here’s an interesting take on the origin of “piggy bank”, if only because this idea is accompanied by a plaque in White Cloud, Kansas. According to the community legend, it started in the early 20th century. The plaque tells of a 10 year-old boy named Wilbur Chapman who was so moved by a sermon about lepers that he decided to help a boy he knew of who was suffering from leprosy. His generocity took the form of raising a pig which he later sold for $25.00. He gave the full amount of money to the sick boy; this act captured the community so much that, evidently, a Pig Bank Movement was started to help others with leprosy, which may be responsible for birthing the name “piggy bank” (at least as far as the locals are concerned). Claiming that this story single-handedly accounts for peoples’ referring to coin banks as ‘piggy banks’ is inconsistent with the popular explanation, but this story compliments the widely accepted theory regardless.

Ever heard of summer camp that teaches kids to become financially responsible? Kathernine C. Harris, owner of Turning Point Financial Services in North Carolina, has been running such a money camp for the past 2 years. Catering to children 10 and older, the program emphasizes learning about responsible financial planning including risk management. The camp incorporates games, role-playing, and other group activities to make the experience of becoming financially savvy fun for kids.
In Reno, another such camp incorporated piggy banks in their endeavor to help teach financial wisdom to children. The camp was put together by Rainshadow Community Charter High School and Remcor Real Estate, the latter of which donated piggy banks to the youngsters. The piggy banks were distibuted in pairs–one to represent expendable income, the other for savings. Using the piggy banks with games such as Monopoly, the children were taught about interest, credit, and wise investing.

[news sources: RENO GAZETTE JOURNAL -”Area teens attend ‘loot’ camp”, by Annie Flanzraich posted 7-17-06; THE NEWS AND OBSERVER -”Passing the piggy-bank stage”, by Vicki Lee Parker, posted 7-16-06]
We think that money camps like these are a timely idea and hope to hear about more financial education programs made for children. Piggy banks not only make the best introduction to the much needed principles of financial wisdom, but they can also be easily incorporated into learning programs that even teach the complex principles of interest, credit, and investments. When children can physically interact with these principles using real money and piggy banks, the elements are in place for permanent learning from experience vs. the philosophical lessons given on paper or oral instruction.

In international news, a Russian family was so angered by the theft of their 1-year old’s piggy bank money that they had police jail the thief –the 1-year old’s grandfather. It seems the 40 year old grandpa, who was living with his son’s family in a small apartment, had a history of spending any money he could find on vodka. While the relatives had often kept money hidden, they neglected to hide the 3000 rubles–about $100 worth–in the piggy bank on a shelf above the baby’s bed. The grandfather emptied the piggy bank when most of the family members were out; he then spent the money on vodka. However, the grandson witnessed the piggy bank theft and informed his parents, who in turn called the police. [source: www.mosnews.com/news/2006/06/08/badgrandpa.shtml, accessed 7-07-06]

If you’ve heard any news about the penny recently, chances are it was about their removal from circulated currency. For the first time since their inception, pennies are now costing more to make than their actual value, due to the increased cost of metal. Without a change in economics, it appears as though the penny will be phasing out sooner than later. According to a 2002 polling, 58 percent of Americans store their pennies in piggy banks or some other designated container instead of spending them. Some roll them up to cash them in at the bank [coin sorters make this an easy task], while a small fraction admits to actually throwing pennies away. This is a hot topic since the removal of the penny would mean all prices would be rounded up to the nearest nickel. For the full story, please click here.

If you’re planning on having fun with fireworks today, be on the lookout for a piggy-bank shaped firework called the Thrifty Pig. We don’t know if this is the first firework based on piggy banks, but it may be the most elaborate piggy bank built for a flaming self-destruction. Written on the side is “Hogtown Savings Bank…A Penny Saved is a Penny Burned”. After the fuse is lit, expect some screeching sounds while the piggy circles around and spins it ears. The eyes will start glowing red, the tail will spin and finally gold color erupts from the money slot on its back. It would seem storing money in this piggy bank is not recommended. [source: cjonline.com/stories/070306/lth_louann.shtml, accessed 7-04-06]

A commercial for the Bank of New Zealand has become an instant smash hit with consumers. The ad’s theme? Animated piggy banks. Thousands of CGI piggy banks journey across land and water to reach a paradise resort, where they begin enjoying a plethora of leisure activities including tennis, massage, tai chi, and more. Of course, the resort is a metaphorical Bank of New Zealand, implying to viewers that their money will be very well treated while kept at their establishment. Arguably one of the most entertaining aspects of the commercial is all the meticulous detail packed into each frame. While the animated piggy banks consistently have the same shape, the colors and sizes of the banks vary greatly (some piggy banks randomly show personalized names painted on them). Occasionally we see the piggy banks engaged in activities–like ski-boarding or holding a tennis racket–that requires them to stand; a lot of the humor in the ad’s 45 seconds comes from watching these piggy banks get into uncharacteristically human stances to enjoy themselves. According to Bank of New Zealand’s General Manager of Marketing, Shona Bishop, the response from both customers and staff has been exceedingly positive. “It was a bold new direction for us, but everyone seems to love our piggy banks”, she says. Click here to view this commercial. [news source: http://scoop.co.nz/stories/BU0605/S00472.htm, accessed 7-03-06]

Two other tv ads are notable because they’re also based on a piggy banks theme:

The first is from Geico, featuring a colossal pink piggy bank mindlessly tromping through a downtown metropolitan area like Godzilla would, with shots of horrified onlookers on the ground selling the comparison. Visit Zippyvideos.com and search for “Geico” to see this one.

Next, there’s a current tv ad from Toyota promoting their Yaris. An animated piggy bank in this commercial is subjected to lazer cutting, sawing and hammering by a mechanical arm that protrudes from the hood of a Toyota Yaris. Confused? Well, this commerial seems to generate mixed reactions, but you can make your own assessment by visiting youtube.com and searching for ‘piggy bank yaris’.

Ever hear about piggy banks being emptied for a charitable cause? The following news stories not only reveal that everyday are people using money from piggy banks to help others, but they also document people developing a crucial virtue of financial wisdom–sharing:

Milwaukee, WI: Three children–ages 6, 7, and 13–emptied their piggy banks to help pay for a local policedog’s surgery. The canine, named Falko, required leg surgery to remove a bone chip in its right front leg. After the children were told about the dog by their grandmother, they acted on the desire to donate their total piggy banks savings of $11.07 towards the dog’s medical treatment. [news source: jsonline.com, “A dog’s best friends” 6-26-06 by Lawrence Sussman]

Florida: a group called the Sons of Italy raised about $1,500 for the American Cancer Society, and as part of their campaign they used a donation program involving piggy banks. They sold piggy banks to local merchants, who then displayed them in their establishments to collect money for the cancer society. [news source: orlandosentinel.com, “Piggy-bank money fights cancer” 6-25-06 by Linda Florea]

Covina, CA: Ninety-three thousand dollars was raised by the local community for a 7-year old girl with a rare tongue lesion. The rally for helping the girl became so strong in the community that even children were bringing their piggy banks to school to donate their savings. [news source: pasadenastarnews.com, “Well-wishers raise funds to treat girl’s rare lesion” 6-18-06 by Ruby Gonzales]

It is worthwhile to note that when people of any age are inclined to share the money in their piggy banks, they are demonstrating a healthy understanding of finance.

In world news, an Australian study revealed that 25% of parents are taking money from their kids’ piggy banks on a regular basis. The goods bought with these withdrawals have ranged from everyday necessities like gas and groceries to outrageous purchases like automobiles. Also needed among these parents is money to pay for utility bills. 36 percent of moms admited to the “borrowing” act compared to 16% percent of dads. Of particular surprise is that roughly 90% of these parents believe they are setting a positive example for their children. Even Paul Vivian, Bankwest’s head of retail deposits, told Reuters [news source, see reuters.com] that he was guilty of the “crime” — though his wife always makes sure he puts it back with interest. He also mentioned that kids’ piggy banks are always the one place that could be relied on when you can’t find any money. Finance writer Gay Curtis is convinced parents that take from their children’s piggy banks are sending them the wrong message: “If parents aren’t going to teach them budgeting, saving and goal-setting skills, who is?” See The Age for more.

While an older story, the fact that British banks Halifax and Natwest made a decision last fall to omit piggy banks from both their advertising and in-store promotions has been major news for us. The motive behind this decision was disclosed to be an aversion to offending Muslims, who do not eat pork because the pig is perceived as impure in Islamic culture. What is more, the banks’ decision to ban piggy banks–even if it is exclusive to only those coin banks which are shaped like pigs–has caused a flurry of controversy centered around political correctness. Proponents of the decision believe it is a courteous step toward better public relations, while critics fear this is a setback toward a blander society. We are not an ‘opinion site’, but at the very least here are a couple of the questions raised by this issue: What percentage of Muslims find piggy banks offensive? What standards, if any, should be used when determining if a symbol in Western society is offensive to one of its cultural segments? In this case, if piggy banks are somehow determined to be offensive to any culture, is the act of banning their use or representation in the best interest for the whole society? Jump to The Age for the original story.

To begin our exploration of all things piggy banks, it seems fitting to first acknowledge what defines a coin bank. If you have ever shopped around for something to hold your loose change, you may have already concluded that the variety of coin banks available knows no bounds. The point is that it is the intention of use that defines what a coin bank is –namely, whether or not the object in question will be used to hold loose change. The implications of this are such that coin banks (and piggy banks, if you will) can literally be made from any solid material you can think of. And what about functionality? In addition to sorting capabilities, some coin banks can boast a variety of useful (and not so useful) integrated components such as clocks, desktop organizers, radios, and more undefinable creations that transform them into toys. But back to the point, simply referring to an object a ‘coin bank’ does not necessarily denote any of these features described above, save for the fact that it is intended to hold change. ‘Coin Bank’ is defined by Dictionary.com as “n: a container (usually with a coin slot on top) for keeping money at home“. We are not engineers, but we still think this definition is a little lacking, if only because coin banks can be used to keep change in many places other than home. Instead, we’ll adopt a new definition: “a container (usually with a coin slot on top), that is used to hold coins“. That’s it. The rest is up for grabs, as the below wisegeek.com article helps support (enjoy):

Change has a way of accumulating and before long, there’s too much to put in your wallet or pocketbook. You might end up with a pool of change on the dresser top. Instead, a coin bank on the dresser top will give you a place to put all that change! (Read More…)