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Village Oaks Elementary School
Lotus Bank continues to grow its partnership with Village Oaks Elementary School in Novi, Michigan by developing an in-school banking program for students grade K-4. All students in these grades are offered an opportunity to open a free savings account at Lotus Bank. Representatives from Lotus Bank visit the school twice a month to oversee the program. Student volunteers from the fourth grade class are trained to accept deposits from the students, write receipts and record deposit amounts.
Lotus Bank is providing a hands-on learning experience to the Village Oaks students on the concept of saving money, earning interest and daily bank operations.
Teach Children to Save Day
Each year, Lotus Bank representatives present the Teach Children to Save program developed by the ABA Education Foundation. This program was created to bring a clear and thorough understanding to young people of basic money and savings concepts and why those are important.
Rob Smigielski, Banking Officer, along with Linda Abraham, Personal Banker, discuss saving strategies, and various economic concepts with the school’s third grade classes. The presentation includes games and activities aimed at developing concepts about saving, how compounding interest makes money grow, how to budget and determining needs and wants.