Community Christian School and Riverstone Bank have partnered on the very first student-led bank branch to be opened inside a Panhandle school.
Eagle River Bank, a division of Riverstone Bank, opened Thursday morning in the CCS gymnasium, with 5th grade student tellers taking opening deposits, which included an incentive of a small piggy bank for each child, as well as a matching deposit of up to five dollars added to their new savings account.
Riverstone Bank Nebraska Market President Doug Couse told KNEB News the branch will help the kids learn about saving money and how banks truly operate. “I think a lot of people tend to think this is money, this is what we use for money,” said Couse, holding up a smartphone he pulled from a back pocket. “What you see behind me going on, where the kids are learning how to deposit, where the tellers are learning how to help that transaction, really is important that thr kids understand there’s tangible money involved. We really want them to understand the importance of starting a savings habit, rather than spending, because it’s very easy to spend.”
Once opened, the FDIC-insured accounts remain active through 5th Grade, or until a student leaves the school, and there are incentives as the kids hit weekly benchmarks for consistency of saving.
At their 5th grade graduation, each saver will be presented with a check for the amount in their Eagle River account, and the account will be closed.
