A history of kids banking at ASB

Back in 1876, many Kiwi kids got their very first taste of banking with the ASB Penny Bank Account. By the third day, there were already eleven young savers dropping coins into their accounts. 

Back in those early days, Kiwi kids learned about saving right there in the classroom, thanks to ASB school thrift clubs and school bank programmes. With just a single penny, children could open an account and add to it each week, guided by teachers. What started as a simple way to put aside some Christmas money, soon became a treasured part of the school routine, helping kids build good money habits one deposit at a time.

Every October, excitement buzzed through Auckland schools as ASB rolled out its much-anticipated Essay Competition. With thrift as the hot topic, students grabbed their pens, ready to share smart saving tips and stories. 

ASB made sure those efforts paid off, literally. Up to 800 prizes were up for grabs each year, often in the form of book orders to inspire young minds. When books became scarce, winners scored five-shilling National Savings Certificates instead. The true reward? Sparking a lifelong appreciation for the value of thrift among Kiwi kids, one creative essay at a time.

For generations of young savers, the elephant-shaped money box became a familiar companion. It debuted in 1964, given free to the public and serving as a gentle nudge to develop strong savings habits. An elephant never forgets, and a Kiwi kid never forgets to save!

Kashin's name, picked by a primary school competition, blended "cash in" and also means "compassionate" in Hindi. Kashin quickly became a symbol of saving and financial learning for Kiwi kids.

Back then, money boxes didn't have an opening to take the money out, only a slot to put the money in. So when you filled up your money box, you'd have to take it to the bank so the teller could break it open, deposit your money and give you a new one, so you could keep on saving.

After the sudden loss of the much-loved elephant Malini in 1971, many in the community were delighted to hear that Auckland Zoo would soon welcome another gentle giant. Thanks to support from ASB, the zoo was able to bring Kashin, a young Asian elephant, all the way from Como Zoo in Minnesota, USA.

$8,500 a year was donated from the bank to feed and house Kashin. Another symbol of our  long term commitment, as elephants are expected to live for hundreds of years.

Arriving in Auckland at just four years old on December 8, 1972, Kashin quickly became a star attraction for families and children across New Zealand. For many, Kashin was more than just the ASB elephant; she was a beloved figure, featured on television and remembered fondly as an enduring symbol of childhood visits to the zoo.

A couple of years into the new millennium saw the launch of a new youth banking programme and ASB's Headstart account, designed especially for tamariki.

Not only did it help children learn the basics of managing money, it gave them their very own account and an elephant-sized kickstart to saving.

For families and students across New Zealand, the introduction of the ASB GetWise programme in 2010 brought a valuable opportunity to build confidence with money. Offered free to primary and intermediate schools, the programme helps young people learn the fundamentals of money management, saving, and informed financial decision-making. Through interactive workshops, engaging resources, and digital tools, financial concepts are made accessible and enjoyable, setting a strong foundation for future financial wellbeing.

Clever Kash marked a new era in teaching kids about money. Children could now watch their savings grow on a digital display on Kash's tummy - linked to their parents banking app. This little elephant quickly became a familiar friend at home, making saving fun and interactive.

Excitement grew when Clever Kash appeared with New World's Little Kitchen Collectables, bringing saving into everyday play. Kids loved checking their balance, while parents valued the way it sparked real conversations about money and goals. 

Tikitiki o Pūtea offers workshops delivered exclusively in Te Reo Māori, guided by Te Ao Māori principles. As an extension of the GetWise programme, it creates an engaging environment where tamariki in primary and intermediate kura can explore the basics of money with facilitators fluent in Te Reo.

Through interactive sessions, students are introduced to essential concepts - such as distinguishing between needs and wants, learning to save, and understanding budgeting. Tikitiki o Pūtea helps to normalise conversations about pūtea (money), setting a strong foundation for young people to build financial confidence for the future.

In 2025 we celebrated our 150th year of helping kids get one step ahead with money. And it wouldn't be a party without our old friend Kashin. Watch this space for more exciting developments and elephant shaped adventures.