OLGC SCHOOL BANKING INFORMATION
Our Lady Of Good Counsel School is excited to offer the Commonwealth Bank of Australia (CBA) School Banking program to all students. An information booklet will come home this week with the eldest child and one for each kindy student.
This year the CBA have introduced a new way of providing schools participating in the School Banking program with fundraising support. The new structure will take effect as at the start of the 2018 school year and will include the following contributions.
Annual Contribution (existing schools)
An Annual Contribution is paid to the school each calendar year when their first School Banking deposit is processed. The amount paid is based on the number of students who made at least one School Banking deposit in the prior year.
Number of students
1-100 - $100
101-200 - $200
201-300 - $300
301-400 - $400
401-500 - $500
501+ - $600
Payment will occur within two business days of deposit*.
Regular Savers Contribution
A Regular Savers Contribution of $5 is paid to the school for every 10 School Banking deposits processed per student, in line with the existing School Banking Rewards Program for students. Payment will occur on a quarterly basis in January, April, July and October.
School Banking is a fun, interactive and engaging way for young Australians to learn about money and develop good savings habits. Children who deposit money into their Youthsaver account through School Banking earn Dollarmites tokens, after they have collected 10 they redeem for exciting rewards.
The rewards available during 2018 are:
- Twister power handball (Term 1)
- Secret scratch pad (Term 1)
- Glow light (Term 2)
- Sparkle Glitter pens (Term 2)
- Heat reactor pencils (Term 3)
- Mighty boom handball (Term 3)
- Flying disc (Term 4)
- Slushie maker cup (Term 4)
This year, one lucky school banker will win a family trip for up to 2 adults and 3 children to Hawaii, USA! For a chance to win students need to make 15 or more School banking deposits before the end of Term 3, 2018 to automatically receive an entry into the competition. For further details collect a flyer from the school banking team.
To participate in school banking your child needs a a Commonwealth Bank Youthsaver account. If they do not already have one they can be opened in branch or online.
In branch - Visit any Commonwealth Bank branch - Parents will need to bring along identification for themselves and their child (eg their Driver licence and their child’s birth certificate).
Online - Visit commbank.com.au/schoolbanking and click on the link to open a Youthsaver account. When you have selected to participate in School Banking, a School Banking welcome pack will be mailed to your home address, including a Dollarmite deposit wallet and book. When the books arrive (6-10 working days), please write the account details onto the deposit book. Then bring that deposit book along to school banking on a Wednesday.
School Banking day is WEDNESDAY in the School Canteen from 8.15am – 8.40am
starting WEEK 3 – 14th February
If you have any other questions please contact us on email@example.com or speak to the school banking team.
Sharon Seaman (Year 5 & 2) - School Banking Co-ordinator
School Banking team - Zana Appelbee (Year 5 & 1), Mel Fowler (Year 5, 2 & PP), Natalie Matsie (Year 2 & Kindy) and Tracy Morarty (Year 1)