What is the School Banking Club?
The School Banking Club is a savings approach designed to help children establish and maintain their own savings account. It is sponsored by First Niagara Bank and run by volunteers from the school. It makes it easy for kids to save since they can make deposits at the most convenient location for them - School! The account belongs to the child. They can see for themselves how saving even a small amount of money each week can really add up.

The school must designate one day of the week that will be "Bank Day" throughout the school year. During the typical Bank Day, the volunteers accept cash, coins and checks from the students. A volunteer then enters each student's deposit into a computer. Each student receives a receipt for their deposit - just like a real bank. At the end of banking, a volunteer verifies the total amount received to a deposit report and copies the deposit information to a disk. Finally, a volunteer brings all of the money collected to a First Niagara Bank branch.

Who is eligible to have a school banking account and bank at school?

• Students who attend a participating school
• Parent Banking Volunteers
• School Staff

What does the School Banking Club do to encourage children to save?
First Niagara Bank will make a $1.00 incentive deposit to a student's account once the account is activated by the student's first deposit. The account earns a competitive interest rate so students can watch their money grow. Each time a student makes a deposit at school, they receive a sticker. To keep students interested in their accounts, the Bank sponsors contests for School Banking Club members during the school year.

What is required if a school would like the students to participate in the First Niagara School Banking Club?
The school must provide the parent volunteers access to a suitable computer with a printer to be used on Bank Day for an allotted amount of time. An officer of the parent organization must sign a volunteer agreement. The agreement states that it is their responsibility to ensure that the school's deposits are taken to a local branch of First Niagara Bank. The supplies necessary for school banking, such as receipts, computer diskettes, a cash box, proof sheets, incentives, etc., are provided by First Niagara Bank.

What are the computer requirements?
The type of software provided for school banking will depend on the computer used. The same computer must be available every banking day.

Where should School Banking be held?
That depends entirely on the school building and the computer availability. It could be held in the library, the cafeteria, a hallway, etc. A First Niagara Bank representative can help your volunteers and school administrators determine the best location for your school.

How long does School Banking take each week?
It takes less than 30 seconds for a student to make a deposit. If deposits are collected during a school's lunchtime, volunteers may be needed for 2 hours. If deposits are collected first thing in the morning, School Banking can be completed in less than an hour. The amount of time required also depends on the number of students who bank. If large participation causes School Banking to last for an extended length of time, a second computer can be used to speed up the process.

Do you have to be a computer expert to volunteer for the School Banking Club?
Not at all. While at least one volunteer for each Bank Day should be comfortable using the computer, School Banking involves other responsibilities that are very important, such as accepting and verifying the student's deposits, giving the students their receipts, and totaling the day's deposits.

Who can volunteer to help the School Banking Club?
The volunteers can be parents, teachers, grandparents, and retired teachers.whoever is interested.

Can withdrawals be made at school?
No. Only deposits can be made at school. Deposits and withdrawals can be made at any First Niagara Bank branch throughout the year. All withdrawals must have both the student saver's signature and the counter signature of the parent/guardian listed on the new account card.

What is the School Banking Coordinator?
Each school must have one volunteer who will act as the main contact between the Bank and the school.

What are the School Banking Coordinator's responsibilities?

• Elicit the support of enough volunteers to hold School Banking on a weekly basis.
• Schedule the banking volunteers throughout the year. If a volunteer cannot attend his or her scheduled bank day, a substitute should be available.
• Learn the banking software during a pre-arranged session. Any volunteers not present at the training session must be taught by the trained volunteers.
• Make sure that the money, bank report and disks are delivered to a local First Niagara Bank branch on the same day as banking.
• Provide continuous support of the School Banking Club by communicating to the Principal, volunteers, parents, and students regarding:
  • Contests sponsored by First Niagara Bank to encourage saving
  • Changes in school bank day procedures or account features
  • Distribution of new account applications to incoming grades.

How do I get the First Niagara Bank School Banking Club started at my child's school?
Contact our School Banking Department at schoolbanking@fnfg.com to learn more about the start up process or to schedule a presentation at an upcoming PTA/PTO meeting.