Having a college savings account containing even $1 will increase the likelihood a child will attend college from 45% to 71%.
Presenting the Piggy Bank Program
As a compliment to Andson Money Curriculum, Andson developed an innovative financial capabilities initiative called the Piggy Bank Program. In partnership with Silver State Schools Credit Union and local federally insured financial institutions, the Andson Piggy Bank is essentially a bank for students directly inside their schools.
As of May 2018, students have saved over $327,000 by way of over 48,000 deposits!
Edutopia is a comprehensive website and online community that increases knowledge, sharing, and adoption of what works in K-12 education. They recently featured the Piggy Bank Program, through which K-5 students at Walter Bracken STEAM Academy had saved over $30,000 at that point.
The schools participating in this program are Hollingsworth STEAM Academy, Bracken STEAM Academy, Long STEAM Academy, Laura Dearing Elementary and C.H.Decker Elementary schools. The Piggy Bank Program works by having a walk up counter (just like a real bank) where students can deposit and keep track of savings to reach their short and long-term goals. After the students complete the fifth grade, they get their savings back in the form of a check. With that money, the students are encouraged to keep saving toward their goals through SSSCU or another financial institution. "The best part of the program is that it's teaching our parents what they need to discuss with their children regarding money." noted Bracken principal, Katie Decker. This program truly inspires students to save money and instills the knowledge and excitement to carry on the habit of saving beyond all levels of schooling.
Past Piggy Bank Program Events and Recognition
• The Piggy Bank Program returned for a 2nd year to Hollingsworth Elementary. Read the blog HERE.
• Andson receives $25,000 from Mutual of America Foundation for the Piggy Bank Program! Learn more HERE.
• Bracken’s 5th Year Anniversary with The Piggy Bank Program:
Friday is a day that brings much excitement to elementary schoolers - pizza day, no homework, last day of the week! But for studious young learners at Bracken STEAM Academy, Friday also means it’s time for The Piggy Bank Program! September 16th 2016, Andson returned to Bracken to re-open their special savings program. This wasn’t just any regular re-opening though, this was the official start of The Piggy Bank’s fifth year. What does that mean for our little savers? That means that those who were once in the first grade, are now in their final year of elementary school and have been saving their entire elementary careers! Oh how time flies!
We couldn’t be more proud of how far each and every student has come. They all worked so hard to achieve their unique savings goals.