To teach young people the benefits of saving money, Fairfield-based Kearny Bank is rolling out a new program. “Pays for A’s” will provide students in grades K-12 an opportunity to bolster their bank accounts each time they earn a grade of “A” or the equivalent on their report card.
Any student registered for a Kearny Bank “Kid’s Club” account who has achieved appropriate grades may simply bring their report card into any of Kearny Bank’s 42 branches. One dollar will then be added to their account — up to a maximum of $15 per marking period – for every A, score of 93 or higher on a scale of 100, or “E” for “exceeds expectations.”
“This program clearly isn’t about money – it’s about emphasizing that a good, solid education is one of the key building blocks in our society,” says Linda Hanlon, Kearny Bank’s senior vice president / director of retail banking. “We decided to implement Pays for A’s to encourage academic excellence, and to acknowledge the far-reaching importance of learning.”
Only grades from the current marking period, within four weeks of posting, are eligible for submission. Participating students must be enrolled in a public, private, or charter school.
“As a financial institution, Kearny Bank embraces the value of individuals and families saving a percentage of income,” explains Eric Kesselman, Kearny Bank’s first vice president / director of marketing. “This Pays for A’s program enables us to highlight the importance of savings, while also providing students, from a very early age, with a lesson on exactly how to save their money.”
Any student under the age of 18 who presents a report card for consideration under the savings program must be accompanied by a parent or legal guardian.