Within five years of the program being in operation, the following results were found:
95% of all students in the schools opened a savings account
90% of students reach the required $10 within one school year,enabling them to start earning interest on their individual account
Some schools have seen as much as $2,000.00 brought in by students on just one banking day
No school has ever recorded more than $25.00 in calculated errors within one school year
98% of the students leaving the elementary school continue to conduct business with the bank when they enter their new middle or high school
A large portion of students have helped their own parents work with banks.
These bank sponsors have benefited from this program not only by earning CRA (Community Reinvestment Credit) but also by seeing the parents of the children involved in the program at their schools coming into the bank for personal and business account activity.
Banking on Kids has opened over 350 “student-run-banks” with over 50 participating bank sponsorships.
When will your bank become a sponsor at your child's school? A better question is how many local area schools will your bank sponsor through your various office locations?