Cattle Bank and Trust is opening its newest Lincoln branch on Oct. 25, but this will be no ordinary bank. The latest location is at Kooser Elementary School, and the tellers will be nine and 10 years old.
Kooser Elementary has been working with Cattle Bank for months to open this student bank. Principal Kellie Joy talked to KLIN News about its purpose.
“It is an opportunity for students to have a personal savings account while they’re in elementary school,” said Joy. We’re going to open our bank for our second grade through fifth grade students so they can learn a little bit about … what it’s like to have a savings plan, making goals for your future, and providing some leadership opportunities.”
Joy told KLIN News that older students will work at the bank in partnership with adult tellers at Cattle Bank. Students will be able to deposit money into a savings account, and then the Cattle Bank tellers will transport that money to another Cattle Bank branch. Students are unable to withdraw money as long as they are enrolled at Kooser Elementary.
“Our fourth and fifth grade students have responsibilities as tellers,” said Joy. We chose 17 students this year who were part of the process. They had to apply, be interviewed, and then went through two weeks of training to be a teller.”
Kooser is the 11th Nebraska elementary school to work with Cattle Bank for such a project.