Student-run bank opens at Clinton Elementary School

CLINTON, Ill. (WAND) - First National Bank and Trust Company announced it has opened a student-run branch at Clinton Elementary School.

First National Bank and Trust Company along with Clinton Community School District and Clinton Community Education Foundation announced the student-run Maroons Branch at Clinton Elementary opened Wednesday, Jan. 18.

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"It's a bank that's connected to the First National Bank in Clinton," shared 5th grader, Russell Sosamon.

The student bank is designed to introduce the concept of saving money at an early age.

"It's a lot of fun seeing the kids get momentum in saving their money and seeing it start to pile up. They each have a little register, so they know how much money they have in their account and they can start those habits early," said Josh Shofner, President of First National Bank and Trust Company.

First National Bank and Trust Company has a dedicated employee that is committed to financial literacy year-round. Shofner shared that she works with schools and at-risk communities to provide them with information and tools they can use to be financially responsible.

The Clinton Community Education Foundation Chairman, Parker Toohill, shared this statement about the bank:

"The Clinton Community Educational Foundation is thrilled to be helping First National Bank and Trust Company facilitate the In-School Banking program at Clinton Elementary School. The board feels this is a fabulous opportunity for students at CES to learn about saving and financial literacy from a young age. Having had two banking days so far, board members assisting on banking days have remarked on how excited the kids are to deposit their money and grow their savings. The second week of banking saw even more interest and excitement as students began to see their accounts grow. The Clinton Community Educational Foundation would like to thank Mrs. Unruh for bringing this opportunity to the boards attention, and we are very excited to see where it will go in the future."

Clinton Elementary School Principal Sacha Young said the bank is a great learning opportunity for her students. She sees the academic skills they learn, but also the real-life skills like talking to their peers and managing a bank account.

"This allows them to learn about financial literacy and how to save for the future. It creates goal plans about what they want to save for and how much they need to do that."

CES Maroons Branch reinforces the idea throughout elementary, middle, and high school curricula of the importance of financial literacy and being financially responsible. 5th grader Cami Aughenbaugh, who works as a teller, believes it's a great opportunity to help her younger peers.

"We can help our other students, like younger ones, then they can accomplish learning more about how to count money."

Principal Young said there is talk about opening a student-run bank at the Junior High School. First National Bank and Trust Company shared they have plans to open a student-run bank at a Piatt County School next.