Discover Bank, Lulu Ross Teach Kids to Save

Teacher Jay Lingo and Helen Maloney, Customer Service Support for Discover Bank, depositing money for students involved in the Bank at School Program.

Over the past five years Discover Bank has assisted Lulu Ross Elementary School in implementing the Bank at School Program for fourth and fifth grade students. The voluntary program teaches students the fundaments of fiscal literacy including keeping a bank account and balancing a bank register.

Each Wednesday morning the participating students are greeted by teacher Jay Lingo and Helen Maloney, Customer Service Support for Discover Bank, as they assist the students in making deposits and balancing their register books. Each student must fill out a student account application, with parental permission, and are instructed on how to fill out deposit and withdrawal slips.

“The Bank at School program from Discover Bank encourages students to save and to have patience in watching their money grow,” commented Mr. Lingo. “The bank reps come into the school at the beginning of the year to present the program to the fourth graders and they teach the students about the concept of compounding interest and how that can help them earn money by putting it in the bank. Then the fourth and fifth graders that sign up have the opportunity to make deposits for two years here at Ross, and hopefully develop the habit of being life-long savers.”

The Bank at School Program is made possible through a business-education partnership with local schools in Delaware and teaches students lessons that are aligned with the Delaware State Standards in Economics. During the 2012-2011 school year Discover bank helped children save $8720 at four school in Sussex County: Lulu Ross Elementary, Woodbridge Elementary, Phyllis Wheatley Middle School and Greenwood Mennonite School.

“I enjoy making kids feel comfortable when they ask questions and helping them to understand the concept of banking,” stated Ms. Maloney. “The staff at Lulu Ross makes the program as successful as it is. Jay Lingo has always been my contact with the kids and keeps the excitement going within the school.”

Bank at School is a state-wide program supported by the Delaware Financial Literacy Institute, the University of Delaware’s Center for Economic Education and Entrepreneurship, Governor Jack Markell, the State Treasurer’s office and the Delaware Bankers Association.

“One of the greatest things about the program is that the kids are so attentive and you can see you are making a difference,” commented Ms. Maloney. “We have got to support them and make them the strongest people they can be.”

- Advertisement -
- Advertisement -

Latest News

Milford voters pass police station referendum

On Tuesday, Jan. 26, voters in the City of Milford passed a bond referendum allowing the city to borrow...

MSD hopes to expand summer programming for 2021

At the regular meeting of the Milford School District Board of Education, Dr. Bridget Amory, Director of Student Learning, advised board members that there...

MSD moves to full concurrent learning

Milford School District returned to hybrid learning on January 11 following Governor John Carney’s recommendation that school districts in Delaware once again begin in-person...

Milford LIVE Weekly Review – January 26, 2021

Open the Weekly Review PDF Here This Week's Top Headlines Include: Culture Bicentennial fire hydrant artist passes away Education Scott Fitzgerald appointed to MSD Board of Education Milford School District...

Milford School District reviews policy changes

At the regular meeting of the Milford School District Board of Education, several policy changes and updates were reviewed. These policies included changes to...

Must Read

Milford voters pass police station referendum

On Tuesday, Jan. 26, voters in the City of Milford passed a bond referendum allowing the city to borrow...

MSD hopes to expand summer programming for 2021

At the regular meeting of the Milford School District Board of Education, Dr. Bridget Amory, Director of Student Learning,...

MSD moves to full concurrent learning

Milford School District returned to hybrid learning on January 11 following Governor John Carney’s recommendation that school districts in...
- Advertisement -
- Advertisement -

More Articles Like This

- Advertisement -