Turn Those Big Dreamers Into Big Savers.
Save$um School Program
You’ve got some big dreamers on your hands, and Athol Savings Bank is ready to turn them into big savers. We’ve heard all about their dreams to own trampoline parks, live in big mansions and become famous influencers. Let’s show them that having solid savings is the first step to achieving those goals.
We’re proud of how the Save$um School Program has helped students reach financial and classroom success at several area participating schools,* including:
- Athol Community Elementary School, Athol, MA
- Toy Town Elementary School, Winchendon, MA
- JR Briggs Elementary School, Ashburnham, MA
- Templeton Elementary School, Templeton, MA
- Petersham Center School, Petersham, MA
- Gardner Elementary School, Gardner, MA
*Please note that Save$um accounts are not just for students in participating schools. They may be opened for children at any of our Branch locations.
Become a Student Teller
ASB’s Save$um School Program invites students Grade 3 and above that are ready for some extra responsibilities to fill out a job application, interview with an ASB team member, and then be “hired” to work as student tellers at the Save$um Bank in their school. The student tellers will receive training and supervision from Athol Savings Bank staff and parent volunteers.
Become a Parent Volunteer
The Save$um Banking Program is as successful as it is thanks to our parent volunteers. All you need is an extra hour or two each week to help our kids become responsible savers and spenders. If you would like to get involved in this transformative process, please complete the form below. We look forward to hearing from you.
Save$um Banking Program
ASB’s Save$um Banking Program has already given generations of young savers real-world banking experience. Parents see their kids gain financial self-discipline. Kids get the satisfaction of watching their efforts add up in their savings.
How does it work?
Save$um gives students the opportunity to develop money management skills, learn how to reach financial goals, and become a “Save$um” saver by:
- Getting started at a young age
- Adding to their account regularly
- Letting savings accumulate long enough to increase in value
We’re welcoming all savers, new and experienced.
If your child has participated in our program in prior school years, they can continue making deposits to their Save$um bank account. All they need to do is bring in their passbook and cash deposit on opening day and get the savings started again.
If your child is new to the school or the program, we’re excited to get them started. You’ll find more information about the structure and benefits of this educational program in our full brochure. We believe there’s no greater contribution to a child’s education than teaching them the value of saving money and financial literacy. We can’t wait to see your ambitious child grow their savings by leaps and bounds.
For more information about ASB’s Save$um Banking & School Program, please call us at 978-249-3200 and ask to speak with a Save$um employee. You can also email us at Savesum@ibankasb.com and we will contact you directly.
Frequently Asked Questions
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What is a “Save$um” account?
Students who open a “Save$um” account earn a variable rate of interest (if the balance is $10.00 or more) and receive a $5.00 incentive from ASB. Once a student makes 25 deposits, ASB deposits another $5.00 bonus to the student’s account.
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How do I get started?
Fill out the Let’s Get Started form with your child’s basic information and your permission. Once the online form has been submitted, your child will receive an Account Agreement to be filled out and sent back to the school along with their initial deposit. ASB will then open their Save$um account. We accept deposits during school banking hours or in any ASB branch.
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Can withdrawals be made from a “Save$um” account?
Withdrawals can only be done in an ASB branch and the students must have their passbook with them. Students may make deposits on school banking day or in any ASB branch.
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How are the deposits processed?
“Save$um” student tellers, under the supervision of parent volunteers and ASB staff, count, verify and record all deposits. ASB staff do the actual posting of deposits, and the bank returns your child’s passbook to their school within two days.
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Does the “Save$um” program offer Certificate of Deposit accounts?
Yes. Athol Savings Bank offers “Save$um” students who accumulate $250.00 or more the opportunity to transfer their money to a Certificate of Deposit account, which earns a higher rate of interest.