LITTLE ROCK, Ark. — An Arkansas bank is partnering up with a Little Rock School to help teach kids financial stability.
First Security Bank and David O. Dodd Elementary kicked off a new branch inside the school. It is the second school in the Little Rock School District to have a bank inside their school. It is a way kids can open up accounts and learn to save at an early age.
“This is a skill they really need,” said David O. Dodd Elementary Principal Melinda Modica.
Modica asked staff what they wanted to see happen for the school.
“Financial literacy kept coming up in the conversation as well as economics,” said Modica.
That is when the idea for First Security to partner with Dodd Elementary.
“Parents are excited. We have over 30 accounts already open and more are flooding in,” said Modica.
The four students working at the bank went through an interview process. After hired, 4th grader Gracen Davis found out it was not too bad.
“I thought it would be scary, but then I realized it was going to be easy and it was actually kind of fun,” said Davis.
Andrea Lewis with First Security Bank explained how it works.
“They'll come on designated bank days and make their own deposits into the Kids Club Savings and the tellers will handle that transaction, give them a receipt, and send them on their way,” said Lewis.
The mission is to help kids save.
“Five-year-olds get money for Christmas for making good grades. It starts so young, so why not tell them now how important it is to save,” said Lewis.
Fifth-grade bank teller Anthony Bland hopes to share that message with his school.
“You don't want to be in financial debt. If you need something, you have a bank account so you don't have to keep running back to your parents asking them for money,” said Bland.
The bank kicks off Thursday at David O. Dodd. For more information on how the Kids Club Savings works, contact First Security Bank at 501-217-4500 or online.