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Students at East Broad Street Elementary School, 400 E. Broad St., Savannah, are now able to join a savings club at school and begin making their own contribution to the United States economy.

East Broad Street Savings & Trust Bank recently opened for business. All students at the school, from Pre-K through fifth grade, are eligible to start accounts. Students can open accounts with deposits ranging from .50 to $3.00.

Friday, December 5, 2008 during lunch, beginning at 11:00 a.m., East broad will hold their next banking day for students to make deposits. Beginning in January, students will be able to do their banking on the third Friday of each month.

H. & R. Block on Broughton St. has been involved in organizing East Broad’s savings bank from the innovative project’s beginning. They will continue to play an active role, placing an H. & R. Block employee at the school every banking day to accept students’ deposits and to ensure proper record-keeping.

The students’ savings will not be held at school because Bank of America, Savannah, has offered to maintain all accounts at no charge. After a student has accumulated at least $25.00 in savings, parents may move that savings to a Bank of America interest-bearing account.

“The East Broad Saving & Trust Bank is being initiated because it is important for today’s youth to know and understand the importance of saving for the future,” says Dr. Charlene Ford, Principal at East Broad St. Elementary School.

Dr. Ford will be assisted in the student saving venture by Trudy Hargrave, a teacher at the school, and by Charoletta Dixon of H. & R. Block.