Hershey Panthers In School Savings Program
Dear Parent(s)/Guardians,
Hershey State Bank and Hershey Public Schools have joined together to open the Hershey Panther Branch of Hershey State Bank for students in grades Kindergarten-6th ! Our first day of business will be Thursday, October 13, 2022 with the branch open every Thursday morning after that for students to make deposits into their own savings account. The bank will match the initial deposit of all new depositors up to the $5. Any new depositors throughout the year will be matched but not existing depositors. 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.
All students (existing and new) must return this permission slip if they wish to participate for the 2022-23 school year. If you have questions, call Mrs. Elliott or Mr. Thomsen at the School.
Sincerely,
Mr. Thomsen Elementary Principal
-------------------------Please return this section to your student’s teacher---------------------
______________________________
(Student Name)
Has permission to open a savings account at the Hershey Panther Branch of Hershey State Bank. By signing this permission letter, we hereby release Hershey Public Schools and its employees and agents and agree to indemnify and hold Hershey Public Schools harmless, from any and all liability or losses relating to any deposits made or alleged to be made by our child.
_________________________ __________________________
(Parent signature) (Student signature)
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(Date)