FOR IMMEDIATE RELEASE

Arkansas Students Save More Than $65,000 Through Award-Winning School Banking Program

Three Arkansas Community Banks Unite to Bring Financial Literacy to Over 3,000 K–8 Students

ARKANSAS — April 23, 2026 — School Savings™, the nation's only U.S. Department of Education-evaluated and approved in-school banking program, today announced that more than 3,000 K–8 students across Arkansas saved over $65,000 during the 2024–2025 school year — and are on pace to exceed that milestone in the current school year.

The achievement is the result of a collaborative effort by three Arkansas community banks: MNB Bank (headquartered in Malvern), Southern Bancorp (headquartered in Arkadelphia), and First Community Bank (headquartered in Batesville). Together, these institutions bring the School Savings™ program directly into the schools in the communities they serve, making banking convenient, accessible, and educational for students from kindergarten through eighth grade.

How It Works

Banking takes place once a week at school, coordinated by dedicated parent volunteers. Students are rewarded not for the amount they save, but for the number of times they save — instilling consistent saving habits regardless of a family's economic circumstances. All student deposits are FDIC-insured through School Savings™, which has served as a processor for the Federal Reserve Bank since 1996.

"Saving is the first step to financial literacy," said National Distribution Director, School Savings™. "When children learn the value of money by actually saving it — at school, with their peers, week after week — it creates habits that last a lifetime. The commitment of MNB Bank, Southern Bancorp, and First Community Bank to their communities is making a real and measurable difference for thousands of Arkansas families."

"Participating in the School Savings™ program has been one of the most rewarding partnerships our bank has formed," said a representative from the participating banks. "We see the excitement on students' faces every banking day, and we know we are planting seeds of financial responsibility that will grow for generations. The $65,000 saved last year is more than a number — it represents thousands of individual decisions by young people to choose saving."

About School Savings™

Founded in 1982, School Savings™ has partnered with 300+ banks and credit unions, reached 7,000+ schools, and helped more than 3,000,000 students learn to save. The program is the only school banking initiative evaluated and approved by the U.S. Department of Education for use in grades K–8 public and private schools across the United States. School Savings™ processes student deposits electronically through the Federal Reserve Bank, ensuring accuracy, security, and FDIC insurance for every student account.

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Bring School Savings™ to Your Community

Is your bank or credit union looking for a meaningful way to invest in the next generation of customers and strengthen ties to your local schools? School Savings™ is actively seeking financial institution partners to sponsor school banking programs in communities across the country.

We make it easy. School Savings™ provides all the technology, training, and support your team needs. Parent volunteers coordinate the weekly banking days, and your institution gains unmatched visibility, goodwill, and a pipeline of lifelong customers.

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