'Bank in School' program introduced at Chappell Chamber of Commerce meeting

CHAPPELL -- The Adams Bank and Trust is promoting a University of Nebraska-Lincoln program that teaches finances in schools.

The Bank in School program was started by UNL in 2002. The idea is to form a unique partnership within the community to get young children involved in good lifelong financial habits. Meredith Toyne of Adams Bank & Trust in Chappell presented the program before the Chappell Chamber of Commerce November 6. The goal of the program is to increase economic and financial literacy across the state, she said.

"How Adams Bank and Trust participates is we take deposits weekly during the school year. The first deposit the child makes we match up to $5. So if they do $5, they get $5 from the bank. Every quarter we have a scholarship drawing. Of every kid that deposits for that quarter, they end up getting $25 put in to their account, so there's another $25 up for grabs for the students," Toyne said.

She said once a student wins, they are taken out of the pool, allowing other students a chance. Each participating student also earns awards.

"Every depositor earns prizes based on depositor dollars. Part of the program that we enhanced last year is at the end of fifth grade when each depositor receives their check, if they deposit it in an account that's existing at Adams Bank or open their own account at Adams Bank, they get another $5 free for from the bank," she said.

In addition to supporting students starting bank accounts, Adams Bank & Trust works in the classrooms.

"On the education side, we do class presentations with each grade, depending on our staff at the bank. We send fun packets home with the kids that they can do with their families, trying to get their parents and siblings involved in identifying money, how to count money, how to save money. Depending on the grade level, different packets that go home, teach them a little bit more about saving money, why to save money, how to split your money into different categories for spending, fun,  savings, bills," she said.

In addition to money management, students also learn how to conduct themselves in an interview.

Adams Bank & Trust wants to grow the program, and is seeking more business involvement. 

"I want to involve the businesses in the community. This is kind of something that a couple other schools have come up with. How it works is businesses that are involved, on your day to be the partner with us, you match a dollar per kid that deposits. It doesn't matter how much the kid deposits that day, you match with a dollar," she said.

The plan is to start in January.

To learn more about the Bank in School program, contact Toyne at [email protected], or call 308-874-2800.