The gymnasium at North Park Elementary in Broken Bow was buzzing with the talk of money on Tuesday morning. Year number two of the Indians Savings Bank, an official branch of Nebraska State Bank & Trust Company (NSB), begins on Wednesday for Broken Bow students in Kindergarten through 5th grades.
Students filed into the gym to meet the 5th grade tellers who will be providing them with customer service throughout the year. Their names were announced as they were sent on a circle through the room to cheers and music.
The Indians Savings Bank was started last year through an initiative by the Nebraska Council on Economic Education with the goal of providing elementary students the opportunities to not only learn about savings and how financial institutions operate, but to also become savers themselves.
Starting this Wednesday, the branch will be open each Wednesday morning for students to make deposits into their own savings accounts. The student tellers will help their fellow students with their deposits while under the supervision of NSB staff. Each student teller had submitted an employment application before being trained prior to business day number one.
Withdrawals won’t be allowed until the child graduates 5th grade or leaves the school. In lieu of interest, students receive incentives provided by NSB when they deposit into their savings accounts.
