Monson Savings Kicks Off School Banking at Quarry Hill Community School

WARE — Monson Savings Bank and Quarry Hill Community School have teamed up to help Quarry Hill students learn how to bank and save with the introduction of school banking.

Monson Savings staff will set up their “bank” right at Quarry Hill School every Thursday while school is in session. Students may open accounts and make deposits while they’re at school. The program includes several incentives to save. Specifically, students will receive a free gift when they open their account. Then, each time they make a deposit on school banking day, they’ll get a punch on their Superhero Saver Card. All students who fill up their card by the end of the year will receive 20 entries into a drawing for a Kindle Fire.

There are 34 school banking days during the year and 20 “punches” on the card, so 20 deposits of any amount will make a student eligible for the drawing.
“We’re very pleased to be able to offer this program,” said Jennifer Beaudry, Principal of Quarry Hill School, “because it involves real life learning and the opportunity for students to start saving and managing their money early in life.”

School banking is part of Monson Savings’ overall Dollars & Sense program, said Steve Lowell, President of the institution. “We have become increasingly concerned about financial literacy and the fact that many people lack the money management knowledge and skills they need to ensure long-term stability for themselves. We’re convinced that teaching kids about banking and saving at a young age will help them to become good money managers throughout life.”