ALBANY, GA (WALB) - Students at Albany Middle School are getting an early start on financial success. Indian City Bank officially opened its doors this afternoon with a ribbon cutting ceremony.
The bank is a branch of Capital City Bank. This one is different, though. Students will serve as the Tellers and Customer Service representatives. They'll also be the customers, opening accounts with as little as a five dollar deposit.
Parents, teachers, and younger siblings of students can also open accounts. Capital City CEO George Andrews says with a rocky economy, it's important students learn basic money management now.
Andrews said, "In this day, when you have bankruptcies and foreclosures at record numbers, boy don't we need an educational system that's going to teach us how to maneuver around these pitfalls?"
Student Loreal Watts said, "I want to be able to have something to lean back on when I'm older so I won't be in a struggle."
Before the bank opened Tuesday afternoon, students had an opportunity to win a little money to start their savings account by answering some financial questions.
The bank will be open during lunch periods for Students twice a week. School Clubs can open group accounts so they can save up money for trips, supplies, and events.