SNB Opens Blue Devil Branch at Wayne Elementary
WAYNE, NE (October 28, 2019) – State Nebraska Bank & Trust held a grand opening and ribbon cutting of its new Blue Devil Branch at Wayne Elementary School on Thursday, October 24th. Over 130 elementary students opened savings accounts and nearly 100 made their first deposits as part of a unique program to teach financial literacy to youth. You can watch a video of the grand opening here.
Bank employees and Mr. Andi Diediker, school coordinator for the program, were on hand to supervise and assist the 24 students selected to work as bank tellers. As an incentive, State Nebraska Bank & Trust gave all first-time depositors $5 into each of their accounts along with a special bookmark. The SNB Blue Devil Branch will be open every Thursday morning, 7:30-8:20 am, in the school cafeteria to accept student deposits, until the end of April. The branch will re-open with each school year.
As part of state-wide effort led by the Nebraska Council on Economic Education, the SNB Blue Devil Branch became the 30th in-school savings program, and the first in northeast Nebraska. The goal of this program is to provide local Wayne students opportunities to not only learn about savings and how banks work, but to also become savers themselves. The emphasis is on regular savings, not big balances. Over 20 lessons were taught about financial literacy in each classroom under the leadership of Dr. Lindsey Doctorman, professor of economics at Wayne State College, and five college students who volunteered their time because they love economics.
These special accounts are only active at the SNB Blue Devil Branch. Withdrawals will only be allowed when the student leaves Wayne Elementary School or graduates from 6th grade. At that time, a check will be issued for the balance in the student’s account. In lieu of interest, students will receive incentives from State Nebraska Bank & Trust based on frequency of deposits. On the student’s first deposit, no matter when that occurs, State Nebraska Bank & Trust will deposit $5.00 into the student’s account as an incentive to participate in the program. For more account details, click here.
Pictured at the grand opening and ribbon cutting are all the student tellers with bank employees, school staff, and the Wayne Ambassadors.
For coverage of the event, see below:
- State Nebraska Bank & Trust’s Facebook post with pictures from the event