Young Students Get Hands-On Banking Experience Thanks to Program Sponsored By Provident Bank

March 1, 2011 - PRLog -- MONTEBELLO, NY – Students at the Golden Hill Elementary School in Florida, NY are getting a valuable hands-on education in personal finance and the banking business thanks to Provident Bank.

On February 3, Provident Bank opened for business the “Golden Bank of Florida,” an ongoing program in partnership with the school that introduces students in grades K-5 to the fundamentals of banking while linking school curriculum to the workplace.

The Golden Bank, which is located in the lobby of the school’s main entrance, is manned by fifth grade students who serve as managers, tellers, customer service representatives and public relations specialists. Representatives from Provident Bank’s Florida branch are on hand to assist the students as they handle transactions from their fellow classmates. The student bank is open for one hour weekly, and students have the opportunity to deposit money into their savings accounts.  For every new account opened, the PTA donates one dollar into the account.  

“The Golden Bank provides our students with an authentic school-to-work activity and an ideal multidisciplinary program. This experience helps the students realize that what they are doing is preparing them for the future. We are very grateful for the continued support that Provident Bank and its staff have provided for this valuable school program,” said Ron DePace, Principal of the Golden Hill Elementary School.

The Golden Bank was created in 1996 by the school’s Building Leadership Team, an advisory composed of teachers, parents, and community stakeholders, and funded by a $1500 federal grant. The grant helped the school launch the bank, a post office, and Career Exploration Days all of which still function today.

Fifth-grade students, who are interested in working at the bank, apply for a position and are interviewed by School Advisor Sandra Crespo and Provident Bank Client Service Manager Cindy Comninel. Ms. Comninel trains the students in their positions as managers, tellers and customer service representatives. The public relations specialists are trained by Ms.Crespo.

“This terrific program reinforces to the students the importance of savings and planning for the future. Plus, it gives the students real-life experience of how to balance school work with volunteer activities,” said Ms. Crespo.

“Provident Bank is pleased to continue its support of this fun and educational program for the students of the Golden Hill Elementary School. The enthusiasm and excitement that this program is generating with the students and faculty is very gratifying,” said Michelle Mabee-Loughren, Vice President and District Manager of Provident Bank.

“The Golden Bank program is another example of Provident Bank’s commitment to enhancing the quality of life in our local communities. The lessons these young people are learning about savings and banking is a valuable educational experience,” said Richard Jones, Executive Vice President, Business Services of Provident Bank.  

The Golden Bank of Florida will hold weekly raffles for all depositors with the winner receiving a gift from Provident Bank. Christian Kozak, a second grader at Golden Hill, won the raffle on Opening Day. At the end of the year, Provident Bank will give the class with the most deposits an ice cream party.

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ABOUT PROVIDENT BANK: Headquartered in Montebello, N.Y., Provident Bank, with $2.9 billion in assets, is the largest independent full-service community bank in the lower Hudson Valley. Provident Bank operates 35 branches that serve the Hudson Valley region including three Commercial Banking Centers in Westchester County, and one office in Bergen County, N.J. The bank offers a complete line of commercial, retail and investment services. Visit the Provident Bank Web site at www.providentbanking.com.