Savings Program at Sharps Chapel Elementary School

I was at Sharps Chapel Elementary School again this morning reading to the kids during their library time.  As I was leaving, I said good-bye to a friendly woman sitting at a small child’s school desk in the main lobby.  But this time I decided to finally stop and find out more about who she was and what she was doing.

As it turns out, she was a representative of Citizens Bank and was there to accept deposits from children who had signed up for the children’s saving account program that Citizens Bank offers at all the schools.

There are 75 students signed up for the savings accounts, but as it turns out, only 10-15 deposit money to their accounts each week — not a very high percentage of participation.

My first thought was “how can we improve the numbers who participate”?  I learned that they were given $1.00 from Citizens Bank as an incentive to open the account.  So this gave me an idea that I took to the principal, Mr. Bryan Shoffner, for approval.  Here is what I proposed.

Starting at the first of the year, whoever makes a deposit, of any amount, their names will be put into a pool for that week and a name will be drawn at random to receive  $1.00 to be deposited into their account.

We hope that this will be ample incentive to encourage savings — a very worthwhile skill that will benefit them for their entire lives.

I had no idea this kind of program was going on.  Kudos to Citizens Bank and Kathryn Love who comes every week to make this possible.

Life is an Adventure!