Slater Elementary debuts SunTrust Youth bank with assist from Mayor Kasim Reed

Successful school partnerships go beyond businesses providing pizza during PTA meetings. At Slater Elementary, a successful school partnership with SunTrust Bank even proves to be lucrative for students.

On Oct. 6, the school debuted its youth bank, which allows students to create an account and make deposits throughout the school year. When the focus turns to summer vacation, they can withdraw funds, or re-invest their money during the next year. To promote fiscal responsibility, SunTrust will donate incremental matches up to $25 based on the student’s balance.

“It’s innovative, it’s cutting-edge, it’s exactly what we need to be doing as a city and a nation,” said Atlanta Mayor Kasim Reed, who helped students celebrate the mini branch.

Once the bank was officially open for business, students of all ages filed in with their pennies and dollars earned from babysitting, or earning good grades. APS parent Shawnta Smith was impressed with the program and stopped by to watch as her three children opened accounts.

“This teaches them to save and be more responsible with their money,” said Smith, who gives her children money for cleaning their rooms and performing well in school. “I really like this.”

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