At Lawton School there was the same program, run by the B of A branch at 31st and Noriega. On "Bank Day" (I do not recall which day!) we would bring our passbooks and deposits in strong envelopes made for the purpose that closed up with string.
Also, I had a tour of that branch when it opened, but I do not think it was school-sponsored. I recall that they closed (but did not lock)the vault door with us inside and demonstrated the special armored ventilation system that would keep the employees safe if the bad guys ever locked them in.