Appoquinimink High School students no longer have to leave school to open a savings account in order to prepare for the future.
Students, staff and administrators from the Appoquinimink School District recently celebrated a new addition to the school’s mall-like thoroughfare. Right down the hall from the recently opened school store sits the brand new Bank in School.
Provided by Wilmington Trust, the bank is intended to give students a hands-on experience in the banking world, while providing a convenient and educational place for the teens to save their money.
The branch, fully run by students in the banking and financial services pathway, offers three teller stations and will operate at least three days a week during school lunches.
“It’s really an authentic experience,” said Veronica Marine, business teacher at AHS. “Students working in the bank will help their fellow students and the staff with all their banking needs.”
Marine said the bank will initially only provide savings accounts for the students, but as the bankers get more comfortable and their curriculum advances, the branch will begin to offer checking accounts and credit products.
She said the savings accounts will help students prepare for future milestones, such as the purchase of high school rings, vacation, prom and college.
“We’re teaching them how to save their money for all these big events they’re going to want to invest in,” Marine said.
The school commemorated the opening of the bank with a dedication ceremony March 1, which included guests from the district and several state officials.
During the ceremony, Superintendent Dr. Tony Marchio said he was very excited about the partnership with Wilmington Trust, and he thinks the bank will allow students to make connections between their class lessons and real world experiences.
“This is going to be great for our students, great for our teachers and great for our community,” he said. “We feel it will drive those connections and really make a difference in the lives of our students.”
Gov. Jack Markell said in a speech that he has been involved with the Bank in School program for 11 years, but this is the first time he has visited one in a high school.
“This is an experience that not all that many kids get to have when they’re your age,” he told students. “I hope you make the absolute most of it. Remember you are ambassadors, not just for the bank, but for the whole industry and everyone in Delaware.”
Marine said 14 students will work in the bank, and each of them got a taste of the interview process when they had to create a résumé and cover letter, then interview with district officials.
Student banker Chanelle Mitchell said she wanted to work in the bank because of the benefits it will have on her future.
“I really like hands-on experiences and really being able to see how it all works up close,” she said.
Mitchell said she thinks many students will take advantage of the bank’s services, especially since it’s so convenient for them.
“A lot of my friends are already asking me about what’s offered and when it will be open,” she said.
Rebecca DePorte, senior vice president and head of Wilmington Trust’s Personal Finance Services department, said she is happy to partner with the district and wishes there were things like this when she was in school.
“It teaches the importance of managing money, understanding how to save, the risk of credit and the importance of building good credit,” she said. “The earlier they learn it, the more engrained it will be in them as they grow up.”
