Saving is fun and rewarding!
We work with local schools because we want to help children learn the satisfaction of saving for something they really want. This is a great way to introduce your children to banking and start building strong financial habits.
How does it work?
1. Fill out your child’s application
If they are old enough, invite them to be part of this step!
2. Help your child establish their savings goal!
Big or small, picking a goal they can work towards helps keep up motivation and seeing concrete results teaches the value of saving.
3. Bring weekly deposits to banking day at school
Once a week your child can bring their deposits to school and watch their money grow!
Schoolhouse Savings account details
- No minimum balance
- Interest credited monthly
- NBM deposits first dollar
- An early closure fee may apply (on accounts open less than one year)
- Other fees and charges may apply
Current participating schools
- Beeman Elementary (New Haven)
- Bridport Central
- Bristol Elementary
- Hinesburg Community
- Otter Creek Academy (Leicester, Whiting, Sudbury)
- Salisbury Community
- Shoreham Elementary
- Vergennes Elementary
Is your child’s school not on the list? Contact us and we can get in touch with the school and see if it’s feasible to start.
To open your new NBM account for your child, we will need the following information.
- Social Security number and date of birth for all individuals on the account
- Phone number and email address
- Physical address (no post office boxes)
- Mailing address (if different from physical address)
- License, passport, or state-issued ID for all adults on the account
- Name of the student’s school
Frequently asked questions
Unfortunately, you won’t be able to participate in School House Savings. However, you can still open a savings account for your child! There’s no minimum balance or monthly maintenance fee. Learn More >>
If your child transfers to a different participating school, just let us know so our volunteers are aware. If your child is transferring to a school that is not participating, you will still have the savings account, you just won’t be able to make deposits at school.
Just let us know that you would like to participate in School House Savings! We will add your child’s name to the banking list for your child’s school.
Nothing! NBM will deposit the first dollar. There is also no minimum balance you have to maintain.