The Banking on Kids program was initiated in 1995 by Dr. Ed Anhalt. This program is designed to help teach elementary and/or middle school students (and their parents) to become better money managers.
The program allows local banks to help sponsor neighborhood elementary and middle schools by opening student-run banks within the school, and allowing students to create savings accounts which become interest bearing after they reach $10.00. Students in the upper grades are appointed officers of the bank, and the student-run bank is open once a week for monetary transactions.
Within five years of the program being in operation, the following results were found: