Students at Olds Koinonia Christian School are learning about banking through a program with ATB Financial.
A bank branch has been set up in the school with help from ATB Olds staff.
Students in Chelsie Hopfe’s 25-member Grade 6 class run the branch and do everything from taking deposits to running board meetings and launching marketing programs to promote banking and the branch itself among students.
“My Grade 6 class, we’re all involved in the project. So we have a board of directors which includes a CEO (chief executive officer), treasurer, secretary — all of that,” Hopfe says.
“And then we have a marketing team and we also have tellers, back cash and kind of customer care people.”
Twice a month the bank is open in a room that’s easy to find — the home ec room, right off the school lobby.
Students who have ATB bank accounts can come in and make deposits. They can’t make withdrawls though.
“We don’t have a float, so we just accept their deposits,” Hopfe says.
“We only take their money. We collect it, our student tellers write up deposit slips, give them back to the customer and the money — it’s all real — gets counted by back cash to make sure there are no errors and then it gets taken back to the branch in Olds and officially deposited on their end.
“So it’s very cool and very hands-on. The ATB in Olds, we’ve gotten to know probably three or four of their staff over there. They always come and kind of mentor the kids,” she adds.
Students also got to tour the branch in Olds and see behind the scenes how the bank operates.
Students decided on the jobs they wanted, submitted an application for that job and ATB staff members interviewed them for those positions.
“I think sometimes kids think their dream job will just land in their laps when they’re done high school,” Hopfe says.
“So I think it was good for them to learn it’s a process and you kind of have to learn about yourself and about an organization and then kind of go through the steps to acquire a job.
“They get to practise banking as children, and I’m just excited, because it’s going to pay off in the long run.
“They’re going to not be intimidated by money, kind of understand what their money is doing and hopefully be motivated to be good savers.”
Hopfe learned about the program from a school parent, a former employee of ATB in 2017.
This year the focus is on marketing the program to other kids. Students on the marketing team have been designing things like prizes and games to encourage clients to utilize the bank regularly.
A board oversees operation of the bank.
“What’s been really neat, and something I didn’t foresee, is teaching kids how to run a meeting,” Hopfe says.
“So our CEO and our marketing manager — it’s a steep learning curve to know how to plan ahead for a meeting, how to create an agenda, how to book a space, book a room so you have a place to meet so you can take minutes. So they’re learning just a ton of life skills.
“The kids are all really diverse, so that’s kind of cool about how the program is set up, that there really is a position for everyone,” Hopfe says.
“I even have a girl who’s kind of special needs, and so we’re training her to greet the customers, and so we’re finding a role for her on those deposit days so she knows she also has a place. So it’s very inclusive; no one’s left out,” she adds.
Through the project, students have learned about “professionalism,” Hopfe says.
That includes being organized, cleaning up after yourself and getting along with your co-workers.
“You don’t have to like your coworkers but you can still work as a team and also how to handle anything that could arise between (you and) your coworker, so we’ve taught them you have to go to your coworker first if there’s an issue and talk it out.”
If that doesn’t work, the group includes a compliance officer.
If that doesn’t solve the problem the issue goes to Hopfe.
Although there are other banks in town, Hopfe says the program only involves ATB Financial. Hopfe says there are no plans to work with other banks because they’re satisfied with the program they have.
Val Joevenazzo, manager ATB Olds, says the program, offered in communities across Alberta, has been a win-win for the bank and the school.
“The program is highly successful and very instrumental in teaching the students the value of saving money,” she wrote in an email. “(Olds) Koinonia Christian School have been amazing partners with ATB to make the program successful.”
