|February 23, 2005 - College Bound Savings account and Pay for Grades bonus reflect The Bank of Oswego’s focus on education.
LAKE OSWEGO OREGON...Lake Oswego’s new community bank, The Bank of Oswego, announced the launching of two new programs designed to recognize the academic excellence of local students and to help students and their families save for college. “Encouraging local students and supporting the educational initiatives of our local schools are a special focus for our bank,” said Chairman and CEO Dan Heine. “Our new College Bound Savings Account and Pay for Grades reward program are two examples of the ways we intend to participate in the community’s strong focus on education.”
College Bound Savings Account
The centerpiece of the bank’s new student programs is its College Bound Savings Account. “The indexed rate feature of this account allows students to earn a fair and true market rate, no matter how rates move overall,” said Heine. “Some banks are slow to adjust savings rates, especially in a rising-interest rate environment. Our students won’t ever have to be concerned about that when trying to meet the all-important goal of saving for college.”
The College Bound Savings account may be opened with as little as $25 for the benefit of any person aged 18 and under. Additional deposits may be made at any time during lobby banking hours, which are 9 a.m. to 5 p.m. Monday through Friday, or after hours at the bank’s night depository located adjacent to the Lake View Village parking garage.
Pay for Grades
In addition to the College Bound Savings account, The Bank of Oswego will also launch a recognition program that pays students a bonus for earning outstanding grades. Each quarter, trimester or semester, The Bank of Oswego will award the highest one of the following bonuses, which will then be deposited into the student’s College Bound Savings Account:
Straight “A” Report Card $15 Bonus
All “S” (Satisfactory) Report Card $ 5 Bonus
Honor Roll Listing $ 5 Bonus
Each “A” on Report Card $ 1 per “A”
The maximum bonus per year is $30 and students must present their report card within 30 days to qualify for the bonus.
“If our special programs geared toward education actually help people amass a sufficient college savings fund and also encourage students to do well in school, then our bank will have succeeded in its mission. We invite all eligible students, parents and grandparents to take advantage of our high-yielding College Bound Savings account and Pay for Grades program,” added Heine.
The Bank of Oswego is a full-service community bank. With a specific focus on serving businesses, individuals, entrepreneurs, women in business and the mature market, The Bank of Oswego boasts a wide variety of banking products and services including: complete lending and deposit services; a mobile branch courier service; online banking; complimentary ATM usage; access to a first-class Community Room; and an “At Your Service” concierge, who will provide expertise on local attractions, information about local events and assistance with special arrangements.