HERMANN — PSB Bank on March 3 opened their second school bank called “Bearcat Bank” in partnership with Hermann Middle School.

The bank is located inside of HMS and a group of sixth graders serve as student bankers twice a month.

PSB Bank Marketing Director Kyle Quick shared information about the partnership.

“This is actually the second school bank we’ve opened,” said Quick of the first one opened in 2012 at St. George School. “It’s basically a branch of the bank. Kids can bring in deposits, they can only deposit money and they already have to have a youth account open.”

If a student wants to use the Bearcat Bank, their parent or guardian has to come into the main PSB location with them to open a youth account.

“Those that want to become school bankers, they will apply just like if they were applying for a job,” said Quick. “Then we hold little interviews and everybody essentially gets hired.”

There are different roles among the student bankers.

“There’s a teller, so those individuals are the ones that the money and process the transaction at the school,” said Quick. “There’s a few people in marketing. They make the announcement when the school bank is open in the morning and then when it’s closing.”

The marketing team puts up signs throughout the school in advance so people know when the Bearcat Bank is open for business. Student bankers are provided blue shirts for their work uniform.

“The whole idea is to teach kids about saving money,” said Quick. “We have actual employees that go and are there when the money is being collected and then we bring the money back and actually process the transactions at the bank.”

Bearcat bank allows for students to make a deposit to PSB.

“It also gives the opportunity to kind of see what it’s like to be a banker,” said Quick.

Quick said that chocolate chip cookies were provided for students at the grand opening of Bearcat Bank.

Gasconade County R-1 School District Superintendent Dr. Geoff Neil shared information from the district’s perspective about the partnership.

“They’re a great partner and they work with our younger kids getting them educated, and helping them have the idea of what financial responsible financial management looks like,” said Neil. “Creating financial literacy at an early age is a huge advantage of having a partner at that bank.”