Savings rewards for primary school kids

Commonwealth Bank’s reinvigoration of school banking for primary schools will improve the financial literacy of more than one million Australian school children over the next five years, under the banner of onemillionkids.

Commonwealth Bank CEO, Ralph Norris, said the reinvigoration of school banking is the first in a series of major initiatives targeting young Australians.

“Many Australians across all generations remember fondly their first Commonwealth Bank savings account and the school banking experience. Now we’re making this program bigger and better than ever, to reach more schools and more students,” he said.

“The program currently encompasses 2,500 schools and more than 90,000 students and over the next five years we aim to have well over 4,000 schools involved and over 300,000 students actively saving.”

The reinvigoration of the Commonwealth Bank’s school banking program will include the recruitment of 45 School Liaison Officers across the country, a series of interactive, practical and fun activities, including savings rewards and online games, new money box designs to add to our traditional tin money boxes, and school visits from savings superheroes, the Dollarmites, significant technology upgrades including new software and online support that will make school banking easier for school coordinators.

Mr Norris said the Group would also be extending the award-winning StartSmart financial literacy workshops to primary schools from February 2010.

Source: Commonwealth Bank