We’ve been teaching kids money management skills for over 80 years, and we’re always looking for new ways to promote a better financial future for young Australians. Through our educational initiative, One Million Kids, we offer exciting, fun ways to teach kids about money.
Our School Banking Program, with its Rewards Program designed to teach kids about money, helps them develop good saving habits and gives them the confidence and independence to make sound financial decisions. With hands-on learning experience, we can help children grow into financially savvy adults.
Every time your child makes a deposit into their savings account at school they receive a silver coloured Dollarmites token. The tokens can then be redeemed for a range of great Dollarmites reward items. Every year we have an exciting range of rewards to choose from – Dollarmites moneyboxes, wallets and handballs for example. The rewards vary and will be communicated at the start of each school year. These fun and enjoyable rewards are a great way to keep your students motivated and to demonstrate the value of saving.
To recognise students who actively participate in the program we also have a range of milestone certificates which can be presented at school.
Participation in the School Banking Rewards Program is not mandatory. If you’re keen for your child to be involved in the Rewards Program, please contact your School Principal or School Banking Co-ordinator.
There are no monthly account or withdrawal fees for a Youthsaver account for your child. Every time they make at least one deposit and no withdrawals in a calendar month, they’ll receive bonus interest. Opening a Youthsaver account to participate in School Banking is easy.
If you would like your child’s school to participate in the School Banking Program, please speak to your School Principal.
Every child under 12 years of age who opens a Youthsaver savings account automatically becomes a member of the Dollarmites Club, home to the exciting Dollarmites saving superheroes. It’s a fun club that offers games, activities and tips that help promote saving skills for kids.
Kids can also learn from the Dollarmites in Coinland. Coinland is a free, fun and exciting online world where kids can make friends and play games while learning important lessons about earning and saving money.
Our One Million Kids initiative aims to improve the financial literacy of children across Australia by 2015. As part of the initiative we have expanded our School Banking Program, extended the Commonwealth Bank Foundation’s StartSmart program to primary schools and launched our free online virtual world for kids, Coinland, to teach kids money management skills and help improve their money management skills.
Our Staff Community Fund has helped protect the health and wellbeing of Australian children since 1917. Donations come from current and retired Bank staff and are used to help support youth programs.