The LLL offers a school banking system similar to those offered by commercial financial institutions and it is available to all Lutheran schools and colleges.
The LLL pays a $5 gift into the first LLL Savings Account opened for a child.
With LLL school banking, schools process deposits into LLL Savings Accounts (They can do this for adults with LLL accounts, as well as for children). Check with your Lutheran school when and where deposits can be made.
LLL Savings Accounts can be nominated as Matching Deposits for a Lutheran school.
Each year the school collects all the passbooks and send them to the LLL office in Adelaide for reconciliation and the addition of interest.
LLL school banking can encourage students to develop regular saving habits which can be maintained throughout life.
The LLL encourages all Lutheran schools to offer this service.
ASIC's Money Smart Families is a webpage of resources to support and promote consumer and financial literacy in Australian families.
For more information on LLL school banking, contact the LLL or your Lutheran School office.