SNB Announces New Blue Devil Branch at Wayne Elementary School
WAYNE, NE (September 26, 2019) – State Nebraska Bank & Trust announced it will open a new branch at Wayne Elementary School called the SNB Blue Devil Branch. The in-school savings program was introduced at an all-school assembly last Thursday. With parental permission, students in kindergarten thru 6th grade will be 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 nearly 30 in-school savings programs operating in Nebraska and Iowa. The SNB Blue Devil Branch will be 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 savings and how banks work, but to also become savers themselves.
On weekly Bank Days, students can make deposits into their accounts. The emphasis is on regular savings, not big balances. Bank Days begin October 24th, 2019, and end April 30th, 2020. The SNB Blue Devil Branch will be open every Thursday morning, 7:30-8:20 am, in the school cafeteria to accept student deposits. Cash is encouraged; however, the bank will accept coins limited to one small snack-size bag per deposit. The branch will re-open with each school year.
These special accounts are only active at the SNB Blue Devil Branch. Withdrawals will only be 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. In lieu of interest, students will 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. For more account details, click here.
The bank and school interviewed and selected 24 students from 5th & 6th grades as tellers for this branch. These student tellers will be supervised by bank employees and Andi Diediker, 5th grade math teacher and the school contact for the in-school savings program
All students in grades K-6 will have the opportunity to learn about saving money through this in-school bank. Lessons will also be taught in classrooms about financial literacy, led by Wayne State College faculty and 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 SNB Blue Devil Branch on Thursday, October 24th, 2019, at 8:15am, at Wayne Elementary School.