OKTE PTA

School Banking is Back

We are pleased to announce that Okte Elementary School will once again be participating in the First Niagara School Banking Program. Each week students and staff will be able to make deposits into their own savings accounts.

• Banking will be every Thursday morning in the computer lab.
• The minimum deposit is 25 cents.
• The program encourages frequency rather than the amount of deposit.
• The current interest rate is 3.92% (4.0% yield) on balances less than $1,000 (Note: Interest rate is subject to change)
• The savings account belongs to the child, not their parent/guardian.
• Only deposits can be made at school. Withdrawals and deposits can be made at any branch of First Niagara Bank.
• Semi-annual statements are mailed to the student's home.

Our first banking day will be on Thursday, October 25. Those students who already have an account will be able to make deposits on that day.

If you would like to open a new account, pick up the required forms in the school office or from the banking volunteer on banking day. Complete the necessary information and return it to school. Within approximately 2 weeks, First Niagara will mail you a letter with your banking materials. Bring the letter to school with your first deposit to begin banking at school!

Kindergarteners are welcome to participate. And because they're new to Okte, the required forms have been sent home.

Questions? Please feel free to contact Claudia Tate at 348-0262 or by email at claudiatate@nycap.rr.com.

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