School Banking Program
Since 2000, Watertown Savings Banks has offered local schools the Saving Makes Cents program. It gives students in grades 3-5 the opportunity to learn about the value of money and the importance of saving.
Participating elementary schools include:
- Cunniff School, Watertown
- Hosmer School, Watertown
- Lowell School, Watertown
- Saint Jude School, Waltham
How it Works
- Each fall, Watertown Savings Bank employees make a presentation to 3rd grade classes and give students packets with the program information.
- WSB employees visit the school once a week during the school calendar year on “Banking Day”. They help students open accounts, help the student fill out the deposit ticket, collect deposits, and answer any questions the students may have.
- Upon opening a Student Savings account, the student is provided with a zippered pouch to hold a register, along with a punch card, for tracking his/her deposits.
- The bank employee then brings the deposits back to the bank to be entered into the students’ accounts.
- Account statements are mailed to the student's home each quarter with the deposit records and current balance information. eStatements are available through WSB Online.
- Students receive rewards for every 10 deposits made.
- Withdrawals can only be made at the local bank branch office and requires both the student and the parent/guardian to be present to sign for the withdrawal.
Once students enter 6th grade, they will need to make deposits at the bank.
Call Kelly Cronin, AVP Community Relations for further information at 617-928-2336 or email at firstname.lastname@example.org