State Nebraska Bank & Trust opened its second in-school savings program, the Blue Devil Branch at the Early Learning Center, on Oct.14.
Nearly 50 students deposited and saved close to $300, with 22 students receiving an extra $5 each from State Nebraska Bank & Trust for being first-time depositors.
This in-school savings program helps young students learn the importance of saving by allowing kindergarten through sixth grade students to open a savings account at school with parental permission. On weekly “Bank Days,” students can make deposits into their school accounts and earn incentives, like bookmarks, school supplies, and coupons to local businesses, based on frequency of deposits. The emphasis is on regular savings, not big balances.
According to Wayne Early Learning Center Principal Courtney Maas, “It’s great to see students at the ELC learn the importance of saving regularly. Whether it’s a dime or a dollar, they are learning how to become lifelong savers.”
The State Nebraska Bank & Trust Blue Devil Branch at the Early Learning Center is open on Tuesdays before school through the end of April. Junior High students and High School FBLA students work as tellers under supervision from bank employees.
“We’re proud to continue supporting children in learning how to save at an early age,” said bank CEO, Matthew Ley. “We’re also excited to give older students the chance to work as tellers and engage with younger students. This hands-on experience can provide tellers with a valuable head start in their future careers.”
This unique savings program is part of a state-wide effort led by the Nebraska Council on Economic Education to teach financial literacy to youth. There are 90 in-school savings programs operating in Nebraska and Iowa. The SNB Blue Devil Branch was the first in-school bank in northeast Nebraska. The savings program is also supported by Wayne State College students who teach financial literacy lessons to elementary students.
The other Blue Devil Branch at Wayne Elementary School is open on Thursdays before school. After six years of operation, Wayne Community Schools students have saved over $46,000 through this in-school savings program.
To open a savings account at school, students must return a permission form signed by a parent. If a student already has a savings account at school, parents do not need to sign this form again. Permission slips are available in both school offices. For questions, contact the SNB Blue Devil Branch coordinator, Jillian Pierson, at (402) 375-1130, or visit https://statenebank.com/about/blue-devil-branch/.
Founded in 1892, State Nebraska Bank & Trust is the only bank locally owned in Wayne, run by the same family for five generations.
