As teachers gear up for saving for the next school year, banks and credit unions can help schools invest valuable coins with self-service coin counters. Due to limited funding in public school systems, many teachers have to get creative with fundraising to decorate classrooms and create beautiful learning environments. Some teachers also lean towards their own savings. According a 2014 study by the National School Supply, 92 percent of teachers in the United States spend their own money on supplies for the classroom. This adds up to $1.6 billion dollars out-of-pocket in 2015.
To help teachers save every penny they can, banks and credit unions can provide self-service coin counters to help students and teachers raise valuable money for supplies.
Like many countries, the American public school system is divided into two sectors: public and private. The public sector is funded by government and taxes while private schools must be funded by the parents of individuals in the schools. Educational budget cuts have made an impact on public schools in both rural and urban locations. This comes in the form of cutting non-essential programs such as marching band or art class. Some budget cuts directly affect the cost of supplies for sports and classroom activities. For example, a school may ask parents to pay for football jerseys if recent referendums led to reduced budgets.
Despite the setback of budget cuts, many teachers get creative by finding free sources of school supplies and can excite their students about learning. According to Edutopia, programs such as Adopt-A-Classroom have helped teachers raise nearly $10 million dollars for school supplies in 20,000 classrooms since the nonprofit's conception. Other teachers come up with unique fundraiser ideas such as bake sales, talent shows, raffles and quiz nights for both parents and students. A particularly successful fundraising tactic for teachers and classrooms are coin drives. Coin jars can be placed anywhere around a school and easily allow educators to save for classroom or teacher lounge funding. This is where self-service coin counters in credit unions become helpful.
Banks and credit unions in school districts can help teachers by providing self-service coin counters to count up their savings in. Financial institutions can benefit from the usage fees required for machines while providing the general public with a necessary coin counting tool. These machines can create new revenue streams during the beginning of each calendar school year for banks and credit unions.
May 24, 2016