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For over 80 years the commonwealth Bank has passionately believed all young Australians should learn about the importance of saving and smart money management. When it comes to a child’s education, knowing how to manage money is as essential as English, maths, science or the arts. To show their commitment to this, they have invested $40million in their School Banking program, and they continue to expand the Commonwealth Bank’s award winning StartSmart program.

To add further excitement to the School Banking program, this year it’s being themed as the Savings Hunter program. They’re inviting children to join them on a fantastic journey around Savings Adventure Island – a magical land we’ve created to spark their imagination as they learn.

To encourage good savings behaviour, they run a Rewards Program. Students will receive a silver coloured Dollarmites token every time* they make a deposit to their savings account at school, regardless of the amount deposited. When they have collected 10 tokens, they can redeem them for a variety of exclusive Dollarmites reward items, including: A wallet, torch, handball, calculator, knuckles game, moneyboxes and headphones. The more tokens children save, the more rewards items they can redeem during the year.

The program is also a great fundraising activity because participating schools receive commission for every account activated via the School Banking program, i.e. for each student who banks through the school’s program for the very first time, and for each subsequent individual deposit made at school. This means that Our Lady of the River can use these funds for computers, books, sporting equipment or anything else they need.

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