Washington Mutual Banking

The School Savings® program is a terrific partnership between Washington Mutual and the schools in our communities. Since 1923, hundreds of thousands of students have opened their own savings accounts, taking the first step on the road to financial responsibility.

By participating in the School Savings® program, students have the opportunity to develop healthy financial habits that can last a lifetime. As they watch their account balances grow, students can learn:

• Responsibility – Remembering to bring their deposit every week
• Discipline – Putting money into savings instead of spending it
• Consistency – Making weekly deposits instead of sporadic ones
• Money management – Keeping their own deposit record and running balance
• Goal-setting – Deciding what they’re saving for
  

Here’s how it works:
The School Savings® program is run by parent volunteers — we love them! — on a designated weekly Bank Day. On enrollment day, each student receives an Introduction Kit with the School Savings® program brochure, a Master Account Agreement form and a cool pen. Washington Mutual donates the child’s opening deposit of 25 cents. Then to keep ’em coming back, we award a prize for every two deposits the student makes.

A few more details:

• Deposits are managed by accessing a secure Web site.
• Students may make withdrawals or additional deposits at local Washington Mutual financial centers.
• School Savings® accounts earn a competitive interest rate, and monthly fees are waived until students reach the age of 19.
• Each student’s deposits with Washington Mutual are FDIC insured to $100,000.

By participating in the School Savings® program, schools, parents and Washington Mutual are making an investment in our future: our children!