SCHOOL BANKING PROGRAM

Blackburn Lake Primary School is excited to offer the Commonwealth Bank School Banking program to all students. It is a fun and engaging way for school children to learn about money and develop good savings habits.

The program is also a fundraising activity, with schools receiving 5% of every individual deposit made at school (up to $10 commission per deposit), along with other benefits.

The School Banking program provides children with an opportunity to make deposits into their personal Commonwealth Bank Youthsaver account at school each week.

To encourage regular savings behaviour the program offers an exciting Rewards Program. Every deposit earns your child a silver Dollarmites token, and once they’ve collected 10 tokens they can redeem them for a reward.

Benefits for schoolsSchool Banking provides a great fundraising opportunity, with participating schools receiving:

$5 for every account activated via the program; 5% of every deposit made at school (up to a maximum of $10

commission per individual deposit) OR; A minimum commission payment of $25 per quarter (provided

at least one deposit or new account is received from the school per quarter).

In 2014 alone, participating schools received over $2 million collectively.

Banking Day is Wednesday

[put in here how much commission Blacky lake received in the previous year.]

Benefits for studentsTo encourage regular savings behaviour the program offers an exciting RewardsProgram. Every deposit earns your child a silver Dollarmites token, and once they’ve collected 10 tokens they can redeem them for a reward.

To keep students motivated and encourage participation, every year a new savings adventure is introduced. In 2015, students are going on a mission to Planet Savings and have eight new reward items to choose from the Outer Space Savers range.

The rewards items available during 2015 are:

ET DVD, released Term 1 Planet Handball, released Term 1 Invisible Ink Martian Pen, released Term 2 Intergalactic Rocket, released Term 2 Glow-in-the-Dark Solar System, released Term 3 Outer Space Savers Money Box, released Term 4 Galactic Glider, released Term 4

How to redeem tokens for a reward

1. Get a 2015 Rewards Card at the start of the year (please ask us for one if you haven’t received it).

2. For every deposit you make, you receive one silver Dollarmite token. Keep them in a safe place at home!

3. When you have collected 10 tokens, choose a reward and fill out the card with your name, class and student ID number.

4. Put your 10 tokens and the card in your deposit wallet, and hand it in on Banking Day.

5. The coordinators will order the reward for you and it should arrive at school within 2 weeks. It will be passed to you through your classroom teacher.

Getting Started

It's easy!

If your child already has a Commonwealth Bank Youthsaver AccountYou can start straight away!

Bring in the Dollarmites deposit wallet with the deposit and completed deposit book on banking day.

If the child does not already have a Commonwealth Bank Youthsaver AccountYou will need to open a "Youthsaver" account. This can be done in any of the following ways:

At any Commonwealth Bank branch (no forms to fill in!). Please take idenitification for yourself and your child (such as a driver’s licence and birth certificate).

Online with NetBank - if you are an existing Commonwealth bank customer with access to NetBank.

Download a Youthsaver Application Form. Here’s the link to the form: https://www.commbank.com.au/content/dam/commbank/personal/apply-online/download-printed-forms/001-557.pdf

Once you have received the wallet and deposit book, you can start banking.

Making DepositsBanking Day is every Wednesday (except the last Wednesday of the final term).

1. Put the money in your wallet and fill out the deposit slip and stub in your deposit book with: your name student ID number bank account number date amount of deposit

2. Bring your deposit and bank book to school on Banking Day.

3. The wallets are put into a satchel and brought up to the Staffroom, usually after the 9 o’clock bell has gone.

4. The coordinators will process the deposits through a secure online portal, count the cash and deposit it at a Commonwealth Bank branch.

5. The online portal is also used to order reward items (see How to Redeem Tokens for Your Reward for more details click here).

6. All bank wallets are returned to the classroom teacher in the satchel on the same day. Reward items will also be given out through your teacher.

Important Notes! A "Student Number" will be allocated to each child when they

make their first deposit at school. This number will be written on the inside cover of their deposit book.

The deposit slip and stub must be completed in full each week by the parent or child before bringing the book to school on Student Banking Day.

Foreign currency is not accepted. Only one deposit per child can be processed each Student

Banking Day.

Helping OutThe School Banking Program at Blackburn Lake Primary is run completely by volunteers.

We have one School Banking Supervisor and a team of School Banking Co-ordinators, who are rostered on once every three weeks.

Volunteers are always welcome and without them this program cannot run.

If you are interested in volunteering or would like more information, please contact the School Banking Supervisor.

Contact UsIf you have any further questions about the School Banking Program, please:

Call us – contact details may be found in our newsletter article [Link to newsletters page] or

Drop into the Staffroom on Banking Day – we are usually there between 9-10am; or

Pop a note into your child’s banking wallet.