SS. Peter and Paul School joins School Banking Club

Students are taking part in a program that offers a first-hand look at personal finance through First Niagara Bank.

Saints Peter and Paul School in Williamsville has joined the bank's School Banking Club, a fun and practical program that was developed in 1991 and now has more than 34,000 students in more than 200 participating schools across upstate New York.

The School Banking Club gives students the opportunity to learn the principles of personal finance, with a special focus on the discipline of saving and planning for the future.

"It is especially important, given the decline in the personal savings rate in America, for youngsters to better understand the procedures and rewards associated with maintaining a savings account," said Suzanne Kilcher, First Niagara's director of school banking.

First Niagara, along with the school's Parent Teacher Organization, partner to sponsor the program utilizing parent banking volunteers. The School Banking Department provides all the training, software, supplies and savings incentives to effectively manage the program.

Through the School Banking Club, students learn how to make deposits into their own School Banking accounts on a designated "banking day" at the school. Since the account has no minimum balance requirements and earns an attractive rate of interest, children can see that even by saving a small amount weekly their account can grow.

Other schools interested in offering the School Banking Club for their students can contact Kilcher at First Niagara at 1-800-421-0004 or at schoolbanking@fnfg.com.