Local bank teaches kids to save money

GREATER LAFAYETTE, Ind. (WLFI) – On Saturday, May 17, dozens of kids became business owners for the day as part of Lemonade Day.

But now that all the lemonade has been poured, and the money has been counted – what comes next?

How about saving some of that money?

Old National Bank has a program called Kid$ Start Saving that encourages young people to put their money into a savings account.

All it takes is a few dollars to start an account. Kids can even bring in their piggy bank. There’s no minimum balance either.

Children are also encouraged to donate some of the money they earned on Lemonade Day.

“They’re recommended to keep half of it [the money] for themselves and half of it for a charity in town. Many of them went for the Humane Society and the Cancer Society. It was just a great experience for all of them,” said Gail Brickler of ONB when she appeared on News 18 This Morning.

Starting a savings account could even earn them a scholarship opportunity when it is time for college.

Monica Phillips of ONB said, “We give back a scholarship, the Community Matters Scholarship, to a student for giving back to their community. [There's] two things that they need to have – one, they need to either be a current ONBU student checking account holder or a Kid$ Start Saving holder. And then they also need to have demonstrated that they do give back to the community, along with a letter of recommendation.”

For more information as well as bank locations, head to the ONB website.

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