Midleton College in association with Bank of Ireland have launched their very own school bank.
Following the launch of Banking at Midleton College by Transition Year students, more than 75 accounts were opened on the first day. Students will now have the opportunity to save money in their own current account, with an initial five euro minimum deposit required. It’s the first time Midleton College have facilitated this programme, which is run by Bank of Ireland.
Speaking to the East Cork Journal, Nora Ward, Business Studies Teacher at Midleton College, said; ‘‘the students had to submit application forms and attend interviews. From these interviews there were a number of students selected to run the bank. There are a range of roles for the TY students – from managing to marketing, customer service and so on.
‘‘The thinking behind it is to give the TY students an opportunity to expand their skill set, especially their organisational, time-management, communication and decision making skills, as well as at the same time encouraging regular savings with the students who are customers of the bank. The characteristics of the bank team is that they are dedicated, creative, empathetic and considerate of the needs of their peers in the school.’’
To open an account, students under 16 years of age must get permission from their parents/guardians. Those with an account will receive an ATM card and there are a whole host of rewards and initiatives being offered by Bank of Ireland to students with an account, such as tickets to sporting events.
The bank is set to open one day per week during lunch time. A Bank of Ireland representative will be on site on each of these days.