Success with Student Savings!
In its first year of operation, the SNB Blue Devil Branch had over 170 students open accounts at school. The students made nearly 1,400 deposits and saved nearly $7,000! Along the way, these students also earned over 700 incentive items like bookmarks, coupons, and school supplies. More importantly, these students had opportunities to not only learn about saving and how banks work, but to become savers themselves.
What is the SNB Blue Devil Branch?
Wayne Elementary School and State Nebraska Bank & Trust are offering an in-school savings program for students called the SNB Blue Devil Branch. With parental permission, students in kindergarten thru 6th grade are able to open a savings account at school.
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 30 in-school savings programs in Nebraska and Iowa. The SNB Blue Devil Branch is the first in-school bank in northeast Nebraska. The goal of this program is to provide local Wayne students opportunities to not only learn about saving and how banks work, but to also become savers themselves.
What are the benefits to students and families?
The SNB Blue Devil Branch helps young people build the financial skills necessary to thrive in the future. On weekly Bank Days, students can make deposits into their accounts. The emphasis is on regular savings, not big balances. All students in grades K-6 have the opportunity to learn about saving money through this in-school bank. Lessons are also taught to each classroom about financial literacy by Wayne State College faculty and students.
What’s different about the SNB Blue Devil Branch?
- All money deposited is under one large Wayne Elementary School umbrella account. Information about each student’s deposits is maintained separately and kept confidential.
- This SNB Blue Devil account is only active at the SNB Blue Devil Branch.
- Withdrawals are only allowed when the student leaves Wayne Elementary School or graduates from 6th grade. At that time, a check will be issued for the balance in the student’s account.
- Each student has his or her own account register kept at school where bank tellers record deposits.
- In lieu of interest, students receive incentives (in Spanish) 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.
- 5th & 6th grade students are hired as tellers for this branch and supervised by bank employees and school staff.
Parent Permission Form
Download the Parent Permission Form so your child can open an account at the SNB Blue Devil Branch. Please sign and return to school via your teacher or the office at any time during the school year. Start saving today!
When is the SNB Blue Devil Branch open?
The opening of the bank is currently on hold due to evolving concerns with COVID-19. Under normal circumstances, bank days are every Thursday morning at 7:45am in the school gym. Cash is encouraged; however, we accept coins limited to one small snack-size bag per deposit. The branch will re-open with each school year.
How do I become a teller?
In the spring, letters are sent home to all 4th and 5th grade students at Wayne Elementary School inviting them to apply to be a bank teller for the following school year. Students must fill out an application, solve math problems, and obtain parental approval. Representatives from the bank and school will review applications and conduct a brief interview with each student. Selected students will receive a Teller Contract to sign, a special bank shirt and nametag to wear on Bank Days, and training in the fall.
Upon completion of a school year working at the branch, tellers who fulfill their job duties will have the opportunity to take a field trip to the University of Nebraska Omaha for a special event celebrating the in-school savings programs across the state (as permitted by health and safety guidelines). One Stellar Teller per school will also be recognized for his or her hard work.
Who do I contact for more info?