Program teaches students how to write checks, fill out a deposit slip, and keep track of their withdrawals and deposits in their checkbook register.
By: Venecia A. Thompson
At Crossroads Middle School in Monmouth Junction, Jennifer Camm, an eighth-grader in the school’s Omega Unit, earned money for creating a brochure detailing an upcoming class trip.
Michael Debby, also an eighth-grader in the Omega Unit, earned extra money taking his classmates’ bank deposits and doing their bank statements.
The two students are participating in the Omega Bank Project, an interdisciplinary program that took place in the school’s Omega Unit from March 27 to May 10.
The Omega Bank, which last opened for business two years ago, experienced a grand reopening because of the efforts of instructors in the Omega Unit.
According to math teacher Marta Gilbert, instructors began planning the program just a few months before the bank’s opening, March 27.
Ms. Gilbert said the program taught students how to write checks, fill out a deposit slip, and keep track of their withdrawals and deposits in their checkbook register.
Students had the opportunity to earn money or “Omega Bucks” in their math, language, literature, science and social studies classes. The fake money, which was designed by seventh-graders, Malorie Copeland and Sarah Lasky, in mid-March, features pictures of Omega teachers and are available in increments of $1, $5, $10, $20, $50 and $100.
Sarah and Malorie were asked to design the bills by social studies teacher Dorothy Kohrherr, who, incidentally, can be found on the $50 bill. The students investigated cartooning books for ideas and then designed the bills in one week.
Sarah said “it was alot of fun to construct the money” and had fun participating in the entire project. In addition to Omega Bucks, check books and deposit slips were constructed in social studies class and given out to students.
At the Omega Bank, students would earn money towards their account in a variety of ways. For example, if students earned an A on a quiz, short test or essay, they would earn $5, and they would earn $10 for getting an A on a major project or test.
For each A earned on their progress reports in major subjects such as math, social studies and science, $100 would be credited towards each students’ checking account, while Bs would earn students $90.
Some students earned money for doing special projects. Jennifer Camm received generous pay for creating a brochure of Camp Canadensis in Canadensis, Pa., where she and her classmates will take a trip in June. In addition, students who are making a video of other Omega students will earn extra Omega bucks for their efforts.
Extra cash could also be earned by being employed as an Omega banker. Eight seventh and eighth-graders were chosen as bankers after writing letters to Ms. Gilbert explaining why they should be employed in Omega Bank. These students had the daunting task of keeping track of the accounts of 128 classmates.
Brett Puleio, an eighth-grader who was hired as a banker, said he was in charge of taking deposits and putting them in special envelopes according to an individual’s last name. He also was responsible for going to different classrooms and announcing when the bank was opened, 2:30 to 3 p.m. each day.
Michael Debby, an eighth grader in the Omega unit, also took deposits and prepared bank statements which showed each of his classmates’ old balances and new balances.
Michael said, “I loved the project because it’s fun being a banker and gives a chance for everybody to do something new.”
Ms. Gilbert said, “I’d like to commend my bankers for a job well done. They’ve made decisions on how to keep track of all the students’ banking statements and I’ve just facilitated the process.”
Just as students could earn money, however, they could also lose money from their account. For late homework or homework that was not turned in at all, students were required to write their instructor a check for $5. In addition, students who turned projects in late had to write their teacher a $10 check. Money also was deducted from students’ accounts if they were caught participating in such infractions as gum chewing.
Moreover, students were given IOU slips, which featured a drawing of an elephant to denote students’ forgetfulness, and assessed a fee of $1 if they did not bring their checkbooks to class.
Ms. Gilbert said, “I’ve had more people up to date in homework than I’ve had previous months in school. I also give away a lot more money than I take away.”
She said giving money helps motivate the young participants to be better students and rewards them for doing “spectacular” work.
The Omega Bank Project will culminate in the Omega Auction today (Thursday), from 10:30 a.m. to noon. The auction will feature professional auctioneer Colonel Harrie E. Copeland III, the 1996 N.J. State Auctioneer Champion who recently directed the bidding at the Lincoln Center in New York for the Christopher Reeves Foundation.
Students and faculty donated such prizes as a wooden cow, a piggy bank, large fries in the cafeteria for one week and the honor of having Ms. Gilbert take an exam for them. Students who brought in donations were rewarded with a finder’s fee, which was deposited in their bank account.
Brett Puleio said he liked the entire banking project because he and his classmates “all got experience earning money and losing money, and at the end, we’ll all be rewarded with prizes of our choice from the auction.”