Wise money management is a skill we all need to develop. That's why The Peoples Bank and local schools are joining together to bring students the School Savings Program. The School Savings Program has been recognized as a national model and is the only U.S. Department of Education approved savings program. The program uses computers and the internet to allow students to develop the computer banking skills they will need for the 21st Century. Deposits are recorded on the school's computer by adult volunteers, then transferred electronically to the bank.
Students experience the benefits of savings by participation in a real-life savings program. The curriculum also stresses the relevance of math skills in daily life.
Deposits and Withdrawals
Each Bank Day provides an opportunity for student savers to make a savings deposit at school. A receipt is provided for every deposit. Cash and checks are accepted. Students are never required to make a deposit. Withdrawals are made only at the financial institution. The students' accounts are generally updated by the next banking day to reflect the deposits made at school.
School Savings Accounts are established through the school with the aid of The Peoples Bank. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC).
- Account is in the child's name, and joint with parent
- Deposits may be made at school or any branch of The Peoples Bank
- Interest will be earned on all deposits
- Withdrawals may be made at The Peoples Bank. A parent or guardian must be present and provide identification.
- There are no monthly service charges on this account
- Statements are issued on this account
- No Minimum Deposit and No Monthly Service Charge
Commitment to Education
The Peoples Bank offers the School Savings program as a service to parents, teachers and children in our community. We are proud to be a leader among financial institutions in encouraging America's youth to adopt sound savings principles.
Our employees firmly believe that educating young people today will create better informed adults, capable of making intelligent investment decisions tomorrow.
For more information on how to get your child’s school signed up for the School Savings Program through The Peoples Bank, please email: firstname.lastname@example.org or call our Main Office at 228-435-5511.