Hershey State Bank and Hershey Public Schools have joined together to open the Hershey Panther Branch of Hershey State Bank for students in grades K-6! Our first day of business will be this Thursday, March 31, 2022 with the branch open every Thursday morning thereafter, for students to make deposits into their own savings account. Hershey State Bank will match any deposit up to $5 made on opening day (March 31st)!
We will be hosting an opening ceremony/ribbon cutting event on Wednesday, March 30 at 3:00 PM in the East Gym. The public is welcome to attend. A Parent Permission Slip was sent March 4, 2022. If interested, or if you need another permission slip, please contact your child’s classroom teacher or call the elementary office. Students must receive parent permission before deposits can be made.
A school branch fits perfectly with Hershey State Bank’s philosophy of educating children on the importance of saving so they are better prepared to handle their finances in the future.
What does all this mean to you and your child? Your student will now be able to open a savings account, with your permission, and start saving towards short- and long-term goals they have like a new toy, iPod, a car, or even college.
The Hershey Panther Branch is a unique setup and is only active at Hershey Public Schools. Some important things to note about the branch are:
All money deposited will be under one large school account, however, information about each child’s deposits will be maintained separately.
Withdrawals from this account will not be allowed at school until the child graduates 6th grade or leaves the school.
Withdrawals and deposits to the child’s account will not be allowed at Hershey State Bank
When a child leaves our school, or graduates 6th grade, a check will be issued for their balance in the account.
The branch will be open each Thursday to accept student deposits.
Each student will have their own ledger to record their deposits. These will be maintained at the school and will not go home with the student.
In lieu of interest, children receive incentives provided by Hershey State Bank.
The goal of this program is to provide our students the opportunities to not only learn about savings and how financial institutions operate, but to also become savers themselves. We are building a community of economists here at Hershey Public Schools and want your child to become a savvy saver.