Bank of Lancaster Recognizes Top Savers at Lancaster Middle School's Bright Futures Bank24-Feb-2011
(Left to Right:) Stacey Akers and Jill Hand, Bank of Lancaster employees who supervise the Lancaster Middle School “Bright Futures Bank,” were at the school on Tuesday, February 15th to reward top savers (l to r) Alyssa Booth, Javian Robinson and Jovani Robinson. Bright Futures Bank, now in its 4th year of operation, was opened to help young people understand the importance of learning to save; and these students were rewarded for not the dollar amount of their deposits but for the number of times they saved.
Bright Futures Bank, a partnership between Bank of Lancaster and Lancaster Middle School, is now in its 4th year of operation. This school bank made history in the Northern Neck when its doors opened; and it has received State and National recognition, including in 2009 the Excellence in Education Award from Virginia Tech for its quality and significant contribution to education in Virginia.
The program was designed to address financial literacy standards of learning, and the school bank is staffed and run by the students with supervision from Bank of Lancaster personnel. The banking partnership provides a model where students actively participate as bank managers, tellers and marketing agents.
Periodically throughout the year Bank of Lancaster rewards the top savers. This recognition is for the number of deposits made, not the dollar amount of the deposits. Those recognized this quarter were Alyssa Booth, Javian Robinson and Jovani Robinson.
Hazel Farmer, the Bank’s Senior Vice President and Consumer Education Director, stated “as community bankers, we want to help young people understand the difference between a want and a need. If we can help them understand about personal money management, we can help them have a more financially secure tomorrow. Statistics provided to us through both the American and Virginia Bankers Association, and other organizations such as the Virginia Council on Economic Education and the Jumpstart Coalition, show that if a child learns to save at an early age, learns that discipline of saving a portion of their allowance, birthday money, Christmas money, that child is more likely to further their education and even own a home when they become an adult. Through Bright Futures Bank, we want to increase awareness because the more informed these young people are, the better choices they will make. Bright Futures Bank is a big step in setting Lancaster Middle School students on the path to a brighter future.”