ALBION, Neb.- Customers at a Northeast Nebraska bank are a little younger than most would think.

Cornerstone Bank, with the Nebraska Council on Economic Education has started a student-run bank at the school known as the Cardinal Branch.

Council President Dr. Jennifer Davidson says the goal is to encourage saving money from a young age.

“We’re practicing delayed gratification, we really want them to think about savings as a way of life, that’s the whole impious of this program,”said Davidson”. And I will say I have research that this is actually what happens so its just such a good program to start early because if we can get them we’ve really changed the trajectory of their finical futures.”

Last year the Nebraska Council on Economic Education had over 50 schools start student run banks. At the end of the year, they saved more than $400,000 combined.

Students bring their cash every Wednesday and place it in a deposit only account. Students can only receive their savings when they finish elementary school.

Steven Ruzek works at Cornerstone Bank in Albion. He says this program introduces part of the saving process they might miss at home.

“ You Know I hear a lot of parents say they already have saving accounts,” said Ruzek.” But you know 90% the kids aren’t the one going to the bank making the deposit getting that reward knowing hey I did that, I saved that money.” 

Nebraska State Treasurer Tom Briese attended Boone elementary. Briese thinks the students have a great opportunity to learn something he didn’t at their age.

“ Understand the importance of being so called smart with their dollar,” said Briese.

Ross Beckwith saw a chance to become a teller and took it. His job is to match deposits up to five dollars. He even helped his sister make a deposit.

Beckwith is taking what he’s learned and saving up for something he really wants.

“ For Halloween Im a starters fan and so I was going to try and buy a Darth Vader suit,” said Beckwith.