Bright Futures School Bank, a partnership between Bank of Lancaster and Lancaster Middle School (LMS), recently completed its 10th year of operation.
The school bank made history in the Northern Neck when its doors opened and it has received both State and National recognition, including the Virginia Tech Excellence in Education Award for its quality and significant contribution to education in Virginia, said Hazel Farmer, senior vice president and consumer education director for Bank of Lancaster.
The program was designed to address financial literacy standards of learning, she said. The school bank is staffed and operated 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.
“Not only does the student bank provide an opportunity for young people to learn to save, but the students who work the bank are learning life lessons about the work world. And these young people are to be commended,” said Farmer.
“Students in the seventh and eighth grades, who are in good academic standing, are eligible to apply for the positions. They complete a job application and then all applicants go through a detailed interview process,” she explained. “Once selected to work the school bank, they not only undergo teller training or a marketing training program but also go through programs to help them understand privacy, confidentiality and they sign a Code of Ethics. On the days they are assigned to work the school bank, they miss several class periods so they have to make up all assignments. If they have a test or something they need to do on their assigned day, it is their responsibility to work with the school bank branch manager to find a replacement.
“Bank of Lancaster is so proud to be a part of this educational endeavor for the students at LMS,” said Farmer. “We commend LMS for providing this opportunity for its students. We extend a special thanks to LMS’s Brenda Pittman, who manages the program on the school side.”
Student bankers for the 2016-17 school session were Asia Ball, Tabitha Baugh, Noah Booth, Jaylyn Carter, Macs Crittenden, Kaylee Donovan, Kylie Ewell, Brookelyn Farrell, Tristan McDaniels, Karson Roop, Dayshanna Sanford, Olivia Saunders, Aniya Smith, Daniel Smith, Hailey Smith, Bradley Wilmore, Spirit Yarbrough and Kat Zeiler.
Bright Futures School Bank Top Savers for the 2016-17 school year are first, Harris Clarke; second, Kaylee Donovan; and third, Ayla Saunders.
“Top Savers are recognized for the number of times they save, not for the amount of their deposits. These young people understand the rewards and joys of saving on a regular basis and we are very proud of them and of all who have participated in making the school bank’s 10th year of operation such a success,” said Farmer.