Comet Savings & Loan has a rich history, full of exciting milestones and interesting developments as one of the select few school banks in the nation that is managed entirely by students. Scroll down and read our yearly updates to learn more.

1st Year of Operation 02-03

When school began in 2002, the first trimester class was responsible for creating all the policies and procedures for the bank as well as the terms and conditions. This was done in conjunction with representatives from First Financial Bank. The name Comet Savings & Loan was chosen to be the name and the CS&L logo was created. The bank opened in October of 2002 and within four months CS&L had over $100,000 on deposit. CS&L was offering outstanding interest rates which helped to attract large deposits from our customers. The school bank offered an interest rate of 4% on CD's, 3.5% on Comet Classics and 3% on Savings accounts which was significantly higher than all the local banks. During the 02-03 school year, the highest total deposits were over $158,000 and the school bank had 117 account holders; establishing a solid start for Mason High School's very own student operated bank. With the foundation laid for CS&L, employees looked to build a solid structure of financial literacy education and student banking for the students of Mason High School.

2nd Year of Operation 03-04

After our first year of operation, our banking partner made a decision to lower CS&L’s interest rates so they were more in line with the local banks. As a result, CS&L lowered the rates they were offering to customers. The CD rate lowered to 2%, while the Comet Classic rate was lowered to 1.5 % and the Savings Account rate lowered to 1%. Even at a lower rate, CS&L was still competing with local banks. The 2nd year of operation saw the commencement of our instant loan program. Account holding students who may have forgotten lunch money or need some money during school, were now able to receive a same day loan from CS&L. The 2nd year of operation also saw the beginning of the highly successful Savings for Success financial literacy program. For one trimester Comet Savings & Loan employees visited the Mason Intermediate School to teach the students financial literacy and encourage opening accounts. The bank overall saw a small decline on total deposits, but continued to increase the total number of accounts. During the 03-04 school year the highest total deposits were over $122,000 and they had 176 account holders.

3rd Year of Operation 04-05

Over the course of the year, CS&L began to experience the effects of having lower interest rates. The local banks were beginning to offer better rates which resulted in customers moving their CD money away from CS&L. The deposits on hand went down because we were no longer as competitive with Savings accounts, with that in mind the marketing team made a conscious effort to market Savings accounts. The 1% Savings Account rate at the school bank was still better than many local banks and the marketing teams experienced the fruits of their efforts by the addition of several new customers. Another year of the Savings for Success program was highly successful; in only one trimester 110 accounts were generated through the program. During 04-05 the highest total deposits on hand for CS&L was a little under $75,000, and CS&L grew to 301 account holders.

4th Year of Operation 05-06

CS&L continued to offer the same interest rates, and found themselves competing with local banks primarily with Savings accounts. The marketing team focused their efforts on promoting Savings accounts. Later in the year CS&L petitioned First Financial Bank for an increase in the interest rate. Fortunately, CS&L was able to gain a higher interest rate. The marketing team then began to promote long term saving due to the new interest rates that were marginally higher than other banks in the Greater Cincinnati area. This year of operation saw the Savings for Success program garner 122 accounts as well. During the 05-06 year the highest total deposits were $57,082.32 with 308 account holders. With the bank in its fourth year of operation, CS&L continued to provide high quality banking for the students and staff of Mason High School.

5th Year of Operation - 06-07

More than just a banking provider, CS&L used its efforts to help the community, teaming up with MHS teacher Ms. Ziegler to raise money for the AIDS Angel Ride. Through the help of CS&L the AIDS Angel Ride was able to raise over $100,000 for this worthy cause. CS&L continued to offer the same interest rates. With 272 total accounts and the highest total deposits being $43,127.28 the bank did not meet all the expectations that they had set. As the school improved technology and helping parents become more informed about students' lunch balances, instant loans began to drop off. The employees moved with a new vigor and determination to help the bank achieve the objectives for the next year.

6th Year of Operation - 07-08

Due to the impending economic crisis the interest rate from First Financial Bank to CS&L dropped from 4.5% to 2.5%. As a result in February, the new interest rates were instated: Savings Account 1%, Comet Classic 1.5%, and Certificate of Deposit 2%. CS&L had 350 account holders and their continued loyalty was much appreciated. With the highest total deposits being $51,184.88 the bank continued to achieve financial success. The 6th year of operation also saw the initiation of the Customer Appreciation program. This successful program displayed CS&L's appreciation of the bank's valued customers. As the bank started to generate new promotions and focus efforts on smoothing out the banking process; students, teachers and administrators were looking at a bright future for Comet Savings & Loan.

7th Year of Operation - 08-09

CS&L continued to work on making the banking process as smooth as possible. Interest rates remain the same so far for this year. Student-banker interaction has received a new emphasis and employees are focused on making customers feel welcome through our promotions and our Customer Appreciation rewards. As of March there are 360 Accounts and the highest total deposits are $50,280.66. With the current economic situation, CS&L continues to place a renewed emphasis teaching financial literacy and saving for their future and will extend this knowledge to the future students of Mason High School.

8th Year of Operation – 09-10

CS&L has changed partnerships from First Financial Bank to Fifth-Third Bank. Interest rates remained the same, and employee interactions with account holders continue to be a priority. An importance was also placed on educating younger students through our Savings for Success program, as the Mason Intermediate students opened a total of 103 accounts. The amount of new accounts opened was 217, and there were 2,390 transactions over the course of the year.

9th Year of Operation – 10-11

Over the past year Comet Savings & Loan was able to increase their total number of accounts to 469. The average daily transactions have also increased to 24.2 as CS&L continued to place an importance on customer relations.

10th Year of Operation – 11-12

CS&L has continued to place an importance on developing relationships with their customers throughout the year. Deposits on hand have increased to $115,715.59 and 157 new accounts were opened, increasing the total number of accounts to 517.

11thYear of Operation - 12-13

CS&L has continued to grow at a rapid pace. The rates for all three of the accounts have stayed the same, but more and more students are beginning to see the advantages in banking with CS&L for the much higher interest and convenience than local banks. CS&L has put a renewed interest in student-bank relations with monthly customer appreciation campaigns throughout the school year, as well as several campaigns to create awareness and increase the number accounts. There are currently more than 550 accounts with over $168,500 more than a $50,000 increase from the previous year, in total deposits as of December 2012.

12th Year of Operation 13-14 

We’ve had another exciting year at CS&L. Our interest rates have changed slightly, but our business was not impacted. The updated rates are as follows: Savings account 0.5%, Comet Classic Account 0.75%, and Certificate of Deposit 1.0%. For the year we had the highest number of total accounts of 648 and reached the highest deposits on hand of $221,712.32.

CS&L continued our Philanthropy efforts by teaming with Comet Zone and MHS Art department for the Pink Out event and Annual Art Auction. With the Pink Out event and Art Auction we raised over $7,500 in philanthropy. This year with our sixth grade program, Savings for Success, we opened a total of 181 accounts.


13th Year of Operation 14-15

The 13th year of operation at CS&L was the first year where we operated on a semester schedule. With the switch to semesters, we lost roughly 21 minutes of banking time per day. We managed to shatter records despite this lost time. We had the highest deposits on hand ever of $239,726 and the highest amount of transactions in a day. The marketing department ran the most successful campaign ever, dubbed the “Dollars for Donut Campaign” where we partnered with Sweet Sinsations….this campaign opened a total of 28 accounts.

CS&L’s partnerships with Comet Zone and MHS Art department continued in full strength for the year’s Pink Out event and Art Auction. In total, we raised $7,825 for breast cancer research and the Comets Care Charity. Savings for Success, a program where we partner with two teams (Venture and Ingenuity) at Mason Intermediate and allow sixth graders to bank with us was another success as we opened 164 accounts.

14th Year of Operation 15-16

Comet Savings & Loan had yet another successful year! We broke many records like never before. The highest number of accounts recorded was 651 accounts, and the record number of deposits on hand was $255,046. Our record campaign was the Donut Campaign where we teamed with Sweet Sinsation's opening up 37 accounts. Lastly, we broke our highest number of high school transactions in one day reaching 40 transactions.

15th Year of Operation 16-17

Our 15th year of operation saw tremendous growth, as our team worked together to break an astounding four major bank records. This growth was caused primarily thanks to the addition of a third Savings for Success team, Team Horizon. Our total Savings for Success accounts increased this year to a record high of 238. Additionally, we increased on total accounts to 784, a 23% increase from the previous record. Another component that propelled this unprecedented growth was our most successful marketing campaign in bank history, “Go Nuts for Donuts”,which opened 64 accounts, nearly twice the previous record, set by the previous year’s donuts campaign. With all these new accounts, we were able to push our total early transactions to a record of 2,970, yet another record breaking number. All in all, it has been another great year at Comet Savings & Loan, we want to thank all our customers for all their support in the past 15 years and we look forward to growing even more in the next 15 years!

16th Year of Operation 17-18

Comet Savings & Loan had a record breaking year. We broke the highest number of accounts on hand with 818 in total. We also broke our record of highest accounts opened during a single campaign with 73 accounts during the donut campaign. The B9 campaign broke highest number of transactions in a single day with 47 transactions.