Urbandale Rolling Green Students: Show Us the Money

Rolling Green fourth-grader Dylan Smith knows exactly why he likes working at the Urbandale elementary school's student bank.

"It's all the money I get to deal with," said Smith, 11.

He might also like the bankers' hours — which at Rolling Green are 40 minutes once a week. 

Thursday mornings from 8:20 a.m. until school starts at 9 a.m., students line up at a table in the school's lobby, clutching a dollar, a $5 bill or maybe a check to deposit in their bank account.

Selected fourth- and fifth-graders (you have to fill out a job application and interview to work at the Rolling Green Student Bank) wait on them, looking up their account numbers, helping them with their deposit slips and writing receipts.

Preschooler Mallory Smith, 4, endorses a check by printing "Mallory" in large letters across the back. 

Mallory doesn't really understand why she is doing this, but she seems to be pretty excited about writing her name. 

Students Apply for the Bank Jobs

Tyler Koning, a fourth-grader with a dollar in his hand, approaches the bank and asks, "Is it hard to put in money?"

As it turns out — no. Tyler is a new customer, wooed by a marketing pitch from Dylan. He got $5 in his savings account just for opening the account. And Dylan got $5 for referring him.

That's the marketing lesson. Some of the students are tellers and others are on the bank's board of directors, said Heather Lancaster, the First American Bank employee who supervises the student bank.

Student directors like Riley came up with marketing ideas like a pizza party for customers, Rolling Green Student Bank T-shirts, and a sign in front of the school on banking day. 

Saving for a Rainy Day

Kamryn Koning, a second-grader, also deposited a dollar. Kamryn says she's saving for a Harry Potter book. She usually puts away $1 of the $5 she receives for doing household chores.

Jason Joynes, First American Bank assistant vice president and branch manager, said the bank has been a business partner to the school for eight years, so opening a student bank was a logical way to expand that partnership.

Students involved learn about the banking business, how interest works, and about marketing and financial literacy.

"Hopefully, they learn the benefits of saving," he said.