Peirce Pride Savings Bank

About the Bank

The Peirce Pride Savings Bank is open on Friday mornings from 7:45 – 8:15 AM in the lobby outside the gym. The bank is sponsored by Cambridge Savings Bank and is run by Peirce 5th grade students, who have completed job applications and interviewed for the positions of Officers and Tellers. Parent liaisons are also present to assist the students.

Upon opening a bank account, students will receive a passbook and will be able to deposit and withdraw money each Friday that the bank is open during the school year. During the summer, students will not have access to their accounts.

All money deposited by students is subsequently deposited into an account at Cambridge Savings Bank. This account is a “shared” account for all Peirce students. Students will not be able to access their accounts directly at Cambridge Savings. Accounts do earn a small amount of interest, which will be posted to each account periodically.

To Open an Account

To open an account with the Peirce Pride Bank, please complete the application form and have your child bring it to the bank any Friday morning. The minimum amount to open an account is $1.

Bank Guidelines

  • Students MUST bring the passbook in order to deposit or withdraw money. If a passbook is lost, there is a $2.00 replacement fee.
  • Each student must keep at least $1.00 in their account
  • If a student wishes to withdraw $5.00 or more, the student must have a signed, dated note from a parent.
  • If a student wishes to deposit a large number of coins, they must be rolled in coin wrappers. The bank does not supply these wrappers, nor can we roll coins due to time constraints. The bank does not accept pennies, except if rolled.
  • When you graduate or leave Peirce School, we will close your account. Students moving must give the bank a few days notice to receive a special form, and for us to write a check for the balance of the account. Student graduating from Peirce will automatically receive a check for their account balance in June.

Questions?

If you have any questions about opening an account or about an existing account, please contact Lori Pescatore.