WAYNE – This week will mark the opening of the SNB Blue Devil Branch where elementary students will be able to open a savings account at school.
According to a release from State Nebraska Bank & Trust, Wayne elementary school and SNB have joined efforts to offer a unique in-school savings program for students.
Named the SNB Blue Devil Branch, students in kindergarten through sixth grade will be able to take part in this program with parental permission. The branch will open on Thursday, October 24 and be available each Thursday from 7:30 – 8:20 a.m. in the elementary school cafeteria to accept student deposits.
The new branch will be staffed by fifth and sixth grade student tellers under supervision by bank employees and Andi Diediker, fifth grade math teacher and the program’s school contact. The branch will be closed over the summer months and reopen each school year.
These special savings accounts are only active at the SNB Blue Devil Branch. On the student’s first deposit, State Nebraska Bank & Trust will deposit $5.00 into the student’s account to help them get started. Instead of interest, students will receive fun incentives from the bank based on frequency of deposits, such as coupons to the Scholastic Book Fair, the Majestic Theatre, the Wayne Aquatic Center concessions and Udder Delights. Students will maintain their accounts during their time at school, with withdrawals allowed when either the student leaves or graduates from sixth grade. More account details can be found at www.statenebank.com/about/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. Currently, there are nearly 30 in-school savings programs operating in Nebraska and Iowa. The SNB Blue Devil Branch is the first in-school bank in northeast Nebraska. Lessons will also be taught in classrooms about financial literacy, led by Wayne State College economics professor Dr. Lindsey Doctorman and her team of college students, in partnership with the Nebraska Council on Economic Education.
The community is invited to attend a ribbon cutting and grand opening ceremony for the new branch on Thursday, October 24 at 7:30 a.m. from the elementary school (312 Douglas Street).