WAYNE – An in-school savings program will be re-opening this week at the Wayne elementary school.
According to a release from State Nebraska Bank & Trust, the Blue Devil Branch will resume on Thursday, February 4. This program allows students in kindergarten through sixth grade to open a savings account at school with parental permission with the goal of teaching local Wayne students how banks work and how to become life-long saver.
With safety protocols in place, the bank will reopen in the gym with a central drop box for deposits every Thursday morning before school starts. Twenty-four student tellers from 5th and 6th grades have been hired and trained to accept deposits. Money will be counted offsite by bank employees, and earned incentives, along with account balances, will be distributed through the classroom teacher.
Last year, close to 200 students saved nearly $7,000 through the Blue Devil Branch. This unique program is part of a state-wide effort led by the Nebraska Council on Economic Education to teach financial literacy to youth. There are more than 30 in-school savings programs operating in Nebraska and Iowa. The SNB Blue Devil Branch was the first in-school bank in northeast Nebraska.
These special savings accounts are only active at the SNB Blue Devil Branch. In place of interest, students receive incentives from State Nebraska Bank & Trust based on frequency of deposits. On the student’s first deposit, no matter when that occurs, State Nebraska Bank & Trust will deposit $5.00 into the student’s account as an incentive to participate in the program.
Student tellers are supervised by bank employees and Andi Diediker, 5th grade math teacher and the school contact for the in-school savings program. Wayne State College students also taught lessons on financial literacy by video to all elementary students. For more details about the Blue Devil Branch, visit www.statenebank.com/about/blue-devil-branch.