School Saving Program
Putting Students on the Road to Financial Success
The School Savings Program is a unique partnership between Sturgis Bank and participating schools in our communities. Since 1991, the School Savings Program has helped hundreds of students learn about money management and enjoy the rewards of saving.
Because students younger than 18 years old are unable to legally open an account, we'll need a parent or guardian to sign account documents. You can transfer ownership when your student is 18.
How to Open a School Savings Account
We've made it easy to help your student start saving.
- VISIT us at one of our branch locations.
- Make A MINIMUM DEPOSIT of $1.00.
- Bring your student's SOCIAL SECURITY NUMBER and a COPY of their BIRTH CERTIFICATE.
- The Parent/Guardian who will be on the account with the student will need a valid GOVERNMENT PICTURE ID and SOCIAL SECURITY NUMBER.
Participating in the School Savings Program
A representative from Sturgis Bank will visit your student's school weekly (see participating school list below) on a designated Banking Day to accept deposits from students with savings accounts. Students don't need to make deposits weekly to participate in the program.
When students make a deposit, they'll receive a small prize as an added incentive to keep saving. We'll log deposits into the savings books that are brought to school, then take funds back to your branch location and put them into student accounts. If your student forgets to bring his or her savings book, we'll adjust the balance the following week at school or at a branch visit.
Schools in the Savings Program
- Bronson Community Schools
- Anderson Elementary
- Ryan Elementary
- St. Mary's School of Assumption
- Centreville Elementary School
- Sturgis Public Schools
- Congress Elementary
- Eastwood Elementary
- Wall Elementary
- Wenzel Elementary
- Sturgis Middle School
- Sturgis - Trinity Lutheran School
- South Haven - Saint Basil Catholic School
If your child does not attend one of the participating schools, you may still open a School Savings account. Your student can make deposits at any branch location.
School Savings Account Features
- $1.00 minimum deposit to open an account.
- No minimum balance required.
- Competitive variable interest rate on the entire balance.
- Interest compounded and paid quarterly.
- Quarterly statements/eStatements available.
- No monthly service fee until the age of 18. When your student becomes a legal adult, the minimum balance on the account will become $100. A service fee of $2.00 will be added to the account if the balance falls below this minimum any day during the month.
Our School Savings Account will help your student set and achieve financial goals. With planned, consistent savings, your student will experience the pleasure of having funds available for a special purchase or a large expense like a car or college tuition. He or she will also see how money can grow with interest.
We make saving fun and easy for your student. To learn more about our School Savings Account at Sturgis Bank or the School Savings Program send us an email.