Third grade is not too young to start learning about the
benefits of saving and setting goals for the future.
The Save-At-School program, sponsored by school districts and
San Benito Bank, teaches children in elementary school the
advantages of saving for their life goals.
Third grade is not too young to start learning about the benefits of saving and setting goals for the future.
The Save-At-School program, sponsored by school districts and San Benito Bank, teaches children in elementary school the advantages of saving for their life goals.
“They’re never too young,” said Susan Paura, assistant vice president and client relationship officer at San Benito Bank. “Starting habits young is very important.”
More than 300 kids participate in the program. In its seventh year, Save-At-School allows the students to open a “joint passbook” savings account with an adult – usually a parent. Accounts can be opened for $1 and deposits as small as 25 cents can be made, Paura said.
Students can make deposits once a month when bank representatives visit the school sites. Participating schools are Calaveras, Cerra Vista, Gabilan, Ladd Lane, R.O. Hardin, San Juan and Sunnyslope schools.
“Students take pride in this account. They feel the importance and confidence,” Paura said.
The program also focuses on how money can grow because of interest earned.
The joint passbook account is offered by the bank free of any monthly service and maintenance charges. When the students turn 18, it becomes a regular savings account with the charges.
There is no charge to the schools or students to participate in the program, Paura said.
“This is not something we’re making money off of,” she said.
In the recent past, not as many people are opening savings accounts and less is being taught to students about finances – something Paura said she is trying to reverse.
“Over the past 20 years, the number of savings accounts has gone down,” Paura said. “Teaching kids and people how to save has become something of the past.”
For more information about Save-At-School, call Paura at 637-2265, ext. 105.
