FDIC Digital Sign, using the official FDIC wordmark. This digital sign indicates the deposit institution is backed by the full faith and credit of the US government.
FDIC Digital Sign, using the official FDIC wordmark. This digital sign indicates the deposit institution is backed by the full faith and credit of the US government.

School House Savings

Establish a Select Savings Account through local participating elementary schools, helping the next generation become smart savers. Children can then make deposits at their school on Banking Day!

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 School (New Haven)
  • Bridport Central School
  • Bristol Elementary School
  • Hinesburg Community School
  • Otter Creek Academy (Leicester, Whiting, Sudbury)
  • Salisbury Community School
  • Shoreham Elementary School
  • Vergennes Union Elementary School

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.

Let’s get saving!

Securely begin your application process online today!

Apply now

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.