It’s never too early to start saving, and Community Plus Savings Bank is reinforcing that philosophy with their Youth Savers program in Lake Orion Schools.
The school-based program sponsored by Community Plus Savings is run by adult volunteers with student tellers and computer operators in the schools. Savings day for students is one day a week.
‘I was a volunteer at Blanche Sims? Youth-Savers program in 1997,? said Karol Farrington, currently the bank’s school coordinator for the Youth Savers program. ‘They program started in 1998 at Lake Orion High School.?
Youth Savers is now available in all of Lake Orion’s schools, including St Joseph School. About 30 students at LOHS have interned with Community Plus Savings Bank through the high school’s co-op program.
‘One is now a full-time employee, and others have worked here part-time,? said bank vice president Terry Lehman of the Lapeer Road location.
Youth Savers is also currently running in Oxford and Rochester Adams high schools. Adult volunteers for the program come through the school’s PTO, working one day a week. They take deposits from the students to the bank.
At LOHS, the bank has a branch set up at the school, for students and faculty to use.
‘The students get a monthly prize when they save, like a $15 gift certificate to Blockbuster or a book store,? Farrington said.
‘At each savings level, there are other incentives,? said Lehman. ‘Once they reach a certain level, we start putting money into their accounts.?
Through the program, students use Youth Savers software, with adult supervision, to record deposits on the computer. Students who are saving get a computer-generated receipt along with a small gift. They can deposit as little as 25 cents.
With each initial deposit of $25, the bank donates $5 to the school’s PTA/PTO.
‘It really is to try to teach the kids the value of savings,? Lehman said. ‘We also offer Internet banking…for the parents, it’s a good way to interact with the kids and get computer experience. The kids can check their accounts online.?
Since LOHS has their own bank branch, students saving there can check their account balance through the bank’s website that is online with the other branches.
‘The elementary program is really driven by volunteers,? Farrington said. ‘We are looking for adult volunteers for the Orion Oaks Youth Savers program right now.?
Webber Elementary just started the program in November.
‘So many new accounts have already been opened there,? said Farrington.
To show appreciation, Community Plus Savings Bank President Brian Ashley held a volunteer breakfast at Paint Creek Country Club recently.
‘Our name is Community Plus, but we began as the Rochester Hills Schools Credit Union,? said Lehman. ‘We changed to become a bank because credit unions are really limited in who they can serve…We always want to serve as large a section of the community as we can.?
The branch at LOHS is open during lunch time for students and faculty to come deposit and withdraw from their accounts.
The bank also gives away scholarships at LOHS, and has helped with a reading program for the elementary schools.
‘We do have that commitment to the community,? Lehman said.
The Community Plus Savings Bank in Lake Orion is located at 688 S. Lapeer Road. For more information about Youth Savers, call 693-5770.