[Congressional Record Volume 140, Number 72 (Friday, June 10, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: June 10, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                COMMITMENT TO INNOVATION AND EXCELLENCE

  Ms. MOSELEY-BRAUN. Mr. President, last week I visited a school in 
Chicago that has not been front-page news but, frankly, should be. I 
visited a school the other day where the floors were so clean that you 
could eat off them. I visited a school where the walls were decorated 
with pictures and projects from the various classes at that school. 
This was an elementary school, and it was situated right in the heart 
of the Robert Taylor Homes, a housing development in Chicago that has 
made national news and captured international attention for the 
problems, for the violence, for the degradation in that community, that 
has gripped that community.
  I was at the Beethoven Elementary School to learn about their Bank-
at-School Program. I found a wonderful project in a wonderful school in 
the middle of a troubled and violent public housing complex. Beethoven 
School should be in the news because it is an example of what can be 
done and what is being done by principals, teachers, parents, and 
students to make learning possible.
  I was there to take part in an award ceremony for 15 student bank 
tellers of the Bank-at-School Program. In this program, a bank--in this 
case it was the Cole Taylor Bank--partners with the school. The bank 
trains students to be tellers, to take deposits, and to keep track of 
accounts. Their money is then deposited in the Cole Taylor Bank, where 
it earns interest.
  The Illinois Bank-at-School Program was organized by the Illinois 
treasurer's office with the assistance of 170 Illinois banks; 45,000 
elementary school students currently participate in the program.
  In all, Illinois students have saved a total of $152,000 through the 
Illinois Bank-at-School Program. At the Beethoven School, 110 students 
have saved $1,673.59 at Cole Taylor Bank, and I can assure you, Mr. 
President, they keep track of every penny.
  The Bank-at-School Program has been operating at the Beethoven School 
now for some 2 years, and some students of Beethoven still come back to 
do their banking at the school or send deposits in to the school bank 
with their younger brothers or sisters.
  Bank-at-School has been such a great success in large part because of 
the commitment of Beethoven School's principal, Ms. Lula Ford, and the 
teachers and, of course, the students.
  This commitment is illustrated in another project that was part of or 
associated with Bank-at-School--the eighth grade store. Students are 
placed in positions of management and power. They decide on the 
products, they price those products, they sell sample products which 
are donated from the Merchandise Mart and other vendors in Chicago to 
fellow students, to teachers, and to parents.
  I must say, I bought a little vase for a planter from the store while 
I was there. They handle inventory, price markups, and even markdowns 
when the inventory is not selling. In short, they become entrepreneurs 
as part of the school store.
  The students in the process teach themselves about money and put 
their academic knowledge to practical use. The profits from the store 
are deposited in the Bank-at-School bank.
  Mr. President, these young people are, by this initiative, being 
provided a glimpse of how money works in ways that might not otherwise 
be available to them. They are being given tools to enter the economic 
mainstream that they might not otherwise have. The Bank-at-School 
Program is a stellar example of how hope can be kept alive in even the 
most difficult environments when people care.
  I want to congratulate the school's leadership, the State treasurer 
and Cole Taylor Bank executives for their vision and for their caring. 
I want to congratulate the students of Beethoven School for showing us 
all what they can do given a chance.
  Mr. President, I visited a school the other day in the middle of 
Robert Taylor Homes with a bank, a store, and a commitment to 
innovation and excellence. I visited a school that should be front-page 
news, and I hope that this glimmer of hope becomes a beacon to guide 
our collective efforts to keep the American dream alive.
  Thank you. Mr. President, I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. FORD. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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