The Replicated Reality Phase II will offer real-world banking, both online and in a local branch location. Our online component allows students to log into their bank account, view their account balances and activity as well as transfer money between accounts, set up and track savings goals, and manage direct deposit allocations. As a perfect supplement to the online banking functionality, the hands-on component opens a variety of opportunity for students by creating a real-life local school bank branch.
At the bank branch, students have the opportunity to become employees as a bank teller or manager. As an employee, they can increase their understanding of the inner workings of a bank while gaining valuable experience of job awareness, career technical skills, communication, time management, and so much more.
Of course, not all students will be ready or have the opportunity to work at the bank. Students of all levels can learn vital consumer skills as a customer of the bank. Students can deposit or withdraw RR Dollars or access their bank accounts with the help of bank tellers using only their student ID and chosen PIN.
The program is ultimately designed to create engaging, interactive experiences for students at all levels while discovering and building skills and familiarity in financial literacy, math, community awareness, job exploration, as well as social and emotional learning.
Opening a local school bank branch may seem like a lot of work. But, with our Phase II base program package we offer our customers everything they would need to open the branch, train employees, and get the integrated system (both hands-on and online) up and going. Some of the advantages and benefits of opening the branch are below:
Career Tech Education
A local school branch will give students the opportunity to experience an on-site job, including an entire application and interview process. This experience offers valuable skill building in basic career skills and communication
Community Awareness
A local school branch offers students the opportunity to engage with a community staple, familiarizing them to the local bank branch and some of the services provided.
Financial Literacy Education
Interacting with the school branch allows students to explore ideas around money, including money management, setting and meeting savings goals, needs vs. wants spending, budgeting, and more. The hands-on experience introduces students to banks as a resource for safeguarding their money as well as a place they can go to ask questions and get financial advice.
The branch also provides opportunity of concrete math and money skills by interacting with different forms of money from paper and coins to checks and digital transactions.
Social Emotional Learning
Between interactive experiences working in a bank environment with co-workers and managers and the opportunities to provide customer service and financial mentoring with customers, bank employees are faced with a variety of workplace stressors. The local branch provides the environment, tools, and training to practice communication, professionalism (emotion regulation), person-to-person interaction with students outside their circle, and stress management. Our curriculum and training for employees includes integrated mindful practice techniques to help students stay focused, in control, and ready for the next customer!
Personal Connections
There’s nothing like having your own personal banker! The school branch offers opportunities for students to interact in a whole new way – whether it’s a “running by the bank” at lunchtime or a class field trip to make weekly RR Dollar deposits. Students, as customers, experience a new level of connection seeing their peers as bankers and helpers in their school financial institution.
Money Lessons Made Safe
Having a fully comprehensive banking model allows students of all ages to learn money management and make financial decisions in a safe “replicated” environment. Our program gives them a place to learn through both successes and failures without having lasting negative impact on their future lives.
Our Hands-On Local Bank package includes everything you need to set up a school branch. As part of the initial purchase, we will even come to your site to help you get everything up and running smoothly!
** As Phase II is still in development at this time, these elements are subject to to change.**