CHILDREN SAVE

Hawke's Bay Herald-Tribune, Issue 122, 9 June 1937, Page 11

CHILDREN SAVE

£28,255 Juvenile Credit The school children of the Dominionl ere eaving, through the agency of the Post Office School Savings Bahk. an hverage of £1900 every month of the par. This development of the fchrift habit was given great impetus threa years ago when the Post Office Savings Bank inaugurated school savings system enabling children to bank their spare pennies at school. Usually a special day is set aside for the purpose, the system having the co-operation of the teaching staff, who forward the deposit slips to the post office. Withdrawals are made with the consent of the parents. Within five months of commencing the scheme in 1934, 12,000 accounts were opened and the system has proved so attraetive to the children that the ainounts at credit of juvenile depositors grew from £2345 in the first ycar to £13,780 at March, 1936, and now total £28,255. Interest credited to depositors amounts to £353. Tho : avings habit thus formed at school is well maintained, judged by the .:aet that 1753 sehool accounts were transfered last year to the Post Office Savings Bank, and it is the general experience that ncarly half of the school iccounts, when closed, are transferrcd ;o the main Savings Bank.