Washington Savings Bank Wins Excellence and Innovation BKD Award Presented by CBAI
Kraig Lounsberry, president of the Community Bankers Association of Illinois (CBAI), and Gary Genenbacher, partner and industry leader for BKD National Financial Services Group’s Illinois office, announced that Washington Savings Bank, won for its entry: “WSB Summertime CEO.” The award was presented at the CBAI 45th Annual Convention & Exposition held recently in Springfield, IL.
In 2017, Washington Savings Bank, Effingham, launched WSB Summertime CEO, which allows children ages six to 12 to manage and run their own lemonade stand business. Participants completed an application and interview process and received a lemonade stand kit and start-up cash. The young entrepreneurs were encouraged to be original with their stands and brainstorm how to spend and save their earnings. Several chose to donate their earnings to charity. With more than 40 participants, more than $2,000 was donated back to local charities. Each CEO completed an income statement at the end of their business journey.
“Our WSB Summertime CEO program is one of several educational opportunities we offer to our community. Whether partnering with local schools to help educate students about saving, or providing safe banking tips to seniors, we are proud of our efforts to educate the community at all ages.” Said David Doedtman, Bank President (Washington Savings Bank).
Co-sponsored by CBAI and BKD, one of the 10 largest CPA and advisory firms in the United States, the award – now in its 21st year – recognizes high-performing CBAI members that implement innovative ideas demonstrating a commitment to their employees, customers, shareholders and communities through exceptional programming.