Chelsea State Bank recently announced the launch of a new banking initiative, SavvyStudent, designed for local students with a focus on financial literacy and banking principles.
This program offers students a debit card featuring the option to include their school logo for the Chelsea School District, Dexter Community Schools, and Grass Lake Community Schools.
“Financial literacy is a vital foundation for becoming a successful adult,” said Joanne Rau, president and CEO, Chelsea State Bank in a press release. “After meaningful discussions with school and community leaders, we recognized our responsibility to create a program that bridges the gap between students, local school districts, and community banking.
This is how SavvyStudent came to be. We owe it to Gen Z and Gen Alpha to provide solutions that are not only educational but also enjoyable and impactful, giving today’s students the chance to acquire essential financial skills. We have also included a benefit for participating schools—each school will receive a donation for every debit card ordered with their school logo.”
Chelsea State Bank introduced its SavvyStudent initiative in collaboration with Grass Lake Community Schools during the district’s open house on Aug. 18. This was followed by a launch at Chelsea School District’s open house on Aug. 20, and then at Dexter Community Schools shortly after.
The financial literacy aspect is based on the FDIC’s How Money Smart Are You? Students from Pre-K through 5th Grade will engage with age-appropriate coloring pages and worksheets, which they can submit for cash rewards. Meanwhile, students in 6th through 12th grade can participate in interactive online games and modules, with the option to submit certificates of completion for monetary incentives.
“We’re excited to support the SavvyStudent program as it offers additional financial literacy resources for our students while strengthening connections between our schools and the Chelsea community,” said Michael Kapolka, superintendent, Chelsea School District in a press release. “These types of partnerships provide real-world learning opportunities that benefit students both now and in the future.”
“Dexter parents and alumni have made it clear that they want Dexter students to learn about financial literacy,” said Christopher Timmis, superintendent, Dexter Community Schools in a press release. “We include Financial Literacy in our Helm, which outlines nine essential competencies that Dexter students will acquire during their time here. The SavvyStudent program is a great way to help students learn about and experience the challenges and benefits of financial responsibility in real time.”
SavvyStudent includes built-in parental controls through Chelsea State Bank’s robust and intuitive online banking. Parents can determine spending limits, pre-approve or deny merchants based on products/services, decline age-restrictive purchases, and so much more! The program is designed to send real-time notifications to parents’ mobile devices based on their alert preferences within online banking. Those interested can visit Chelsea State Bank’s website, www.chelseastate.bank/savvystudent to learn more.
Parents/Guardians interested in learning more about this program should plan on attending one of the two upcoming virtual meetings.
Wednesday, Sept. 3, 12:00 – 12:30 pm
https://us06web.zoom.us/j/83824727859
Thursday, Sept. 4, 6:00 – 6:30 pm
https://us06web.zoom.us/j/83780761532
About Chelsea State Bank
Chelsea State Bank is a full-service financial institution with offices in Chelsea, Dexter, and Jackson. The Bank was formed over 125 years ago by local business leaders to provide timely financial solutions to individuals, families, and businesses in the community. This tradition of community service continues today. For more information, please call 734-475-1355 or visit www.chelseastate.bank.
