95th Anniversary Savings Contest Winner Announced

In celebration of its 95 years in business, the Bank of Illinois hosted an essay contest that gave one lucky McLean County resident $500.

On Saturday, September 19, 2009, Sylvia Rajska of Normal was awarded $500 for her savings essay contest entry entitled, “How My Savings Account Has Had a Positive Affect on My Life.”

An Illinois State University senior, Rajska was selected after entering her essay about her personal experience with her own savings account. The cash prize was presented by Larry Maschhoff, bank president, at the McLean County Chamber of Commerce’s CommUniversity prior to the ISU football game on September 19, 2009.

Sylvia Rajska's Winning Entry

P.T. Barnum once said, “Money is good for nothing unless you know the value of it by experience.” My father made me start my own account at home, using the envelope system. He handed me an envelope and said, “Each time you earn money, put it inside the envelope and write the amount you have left on the front of the envelope.” At first, I spent my money on anything and everything that appealed to me. Suddenly, I realized that, with a few dollars left, I had spent a lot of money in a short amount of time. I became more frugal: instead of impulsively buying a product I wanted right away, I would wait a week and see if I truly needed it. This saved me from many reckless decisions. Not only did I attain one of my father’s greatest skills: managing the stress that is money, but I also added a few skills that are bound to help me in the future. I became more responsible about where my money went. Furthermore, I possessed a quality of awareness I never had before. I paid more attention to the fallacies and appeals all around me: the magazines I read, fellow classmates, and pressures of society. As Thornton Wilder once said, “Money is like manure; it's not worth a thing unless it's spread around encouraging young things to grow.” And that is what I think has happened to me. Money has shown me qualities in people I had never seen before. Money has encouraged me to become a better person in the future by looking out for misleading information and thoroughly thinking through my decisions. Through the process of saving, I have learned that a little thing can make a big difference. Each step to a goal can make the unachievable seem that much closer to being achieved. With each accomplishment comes value: value for self and value for others. Not only did that little envelope teach me about financial management, but it also taught me about myself.

Quotes From Other Entries

“I have been less likely to spend excessive amounts of money on things I could live without.” K.H.

“My savings account has had a positive effect on my life because I can honestly say I can pay for all my dreams, and that really makes the silver lining of my future shine.” R.J.

“Our savings account has helped us to continue life with significant ease despite having one income.” L.M.

“I feel secure even in the face of the tumultuous economy.” C.M.

“What I quickly discovered was that getting in the habit of saving money is actually easy.” M.R.