Sadly, our School Banking program will not be returning to schools in 2022.
School Banking is closing nationally
Sadly, the CommBank School Banking program will not be returning to schools in 2022.
For 90 years, our School Banking program has helped children learn about money, reinforced the importance of regular savings and provided structure for parents to support their children to save.
We've had strong support from thousands of schools, parents and teachers across the country who choose to run our program. We’re disappointed with the position taken by the Australian Securities and Investments Commission (ASIC) and subsequent decisions by some state and territory governments to take that choice away from individual schools and parents. Because of the ASIC review and these government decisions, we’re unable to continue providing programs in schools, and we’ve had to make a difficult decision to close our School Banking program nationally for all schools, both government and non-government, across the country.
Look back on your School Banking memories
Even though this is a sad time, School Banking has taught so many young Australians, past and present, the value of money and we believe this should be celebrated.
We’ve created a place for you to take a trip down memory lane and read all the fond stories, memories and testimonials about the program that have been shared.
You can also share your own School Banking memories with us – from our iconic moneyboxes to the joy of reaching your savings goal.
"I started the school banking program at my children's school when my eldest started school. Both of my children have learnt how to earn money, to save it and how long it takes to save for that something special. Last year my son bought a car and my daughter bought one just last week."
- parent and former participant
"I remember enjoying handing in my yellow bank book each week and it being returned with the stub stamped. I found it satisfying to watch my savings grow, and before I got to high school I had over $1000 saved. This started me off on my savings journey where I was able to buy my own car."
- former participant
"Each and every day I wake up with a purpose and drive knowing that we are in a privileged position to provide opportunities for the youth of today to build a better financial future. We genuinely love what we do. We are grieving a program we adore but we are proud."
- current staff member
"I remember in kindergarten when I would put all my silver coins and 5 dollar notes in my Dollarmites banking sleeve. I'm now 18 and have built some great saving habits from the program!"
- former participant
"Without this program being in the school we would have started this conversation [about money] with our children at a much later age. We are grateful to have had it."
"Started school banking in about 1975 using the passbook. It was a huge deal for me to deposit my 5c and especially 10c coins and watch that money grow. Later on this money helped me fund a deposit for my apartment."
- former participant
"My earliest memory of understanding the value of money when I was in primary school in 1973 and became a participant in the school banking program. My parents were small business owners and worked tirelessly to make ends meet. I could not wait for every Tuesday which was our school banking day to deposit some coins in my account as it brought me closer to my goal of owning a pair of roller skates. I still have them today and they're hanging in the garage as a reminder of my first taste of 'financial independence!'"
- former participant
"Like many others I started School Banking many years ago, when I was in Kindergarten at Primary School. [Many years later when my son started School Banking, I realised] this is what I want to do! I want to go into schools and teach children and parents about saving and setting financial goals. I landed a job in School Banking and have loved every day of the last 4 years. Such an amazing team and Program to be part of."
- parent, staff member and former participant
“My youngest child was a school banker. His banking day was Tuesday, so on Monday we sat down and counted his jobs for the week and how much he would get paid. I then asked him how much he would like to save (which was usually all of it because we never went to the shops). He managed to save over $1,000 through primary school and continued saving. He graduated this year and now has a share portfolio worth over $4,500. Not bad for a 17-year-old!”
Thank you for your support
A message from our Group Executive Retail Banking Services, Angus Sullivan.
A look back at our School Banking history
Since our School Banking program was established in 1931, we’ve helped more than 15 million Australians take their first financial steps. This wouldn’t have been possible without the wonderful support we’ve had from the schools and volunteers we’ve partnered with over the journey, and for this we’re deeply grateful.
While our in-school program has closed, we're committed to supporting financial wellbeing and will continue to provide financial education to young Australians. Visit our CommBank Youth Hub for a range of free resources, including lesson plans, videos and worksheets, for both parents and teachers.
We're also working with a range of experts to evolve our approach to financial education and are excited to launch new digital tools in 2022 to further support young people’s financial wellbeing.
I’m a parent. What resources do you have available to help me teach my child about money?
All our youth financial education resources for parents are available in our CommBank Youth Hub, where you can access a range of free resources including videos and worksheets.
I’m a school and have a question about the program, or need a contribution statement. Who do I contact?
The School Banking program officially ended on 10 December 2021, meaning that no new schools or student registrations are being accepted and the program is no longer offered.
Our School Banking Helpdesk closed on 25February 2022. If you have any questions, require contribution statement reprints, or need any additional support after that date, you can continue to email firstname.lastname@example.org.
I’m a teacher. What resources do you have for me to teach my students about money?
All our youth financial education resources for teachers are available in our CommBank Youth Hub, where you can access a range of free resources, including lesson plans, videos and worksheets.