Kids Savings Club Account

Description:

This account is for children 12 and under. Kids receive a membership card to the savings club, a T-shirt, and a savings journal to record individual transactions.

Target Market:

Parents, grandparents and children under the age of 12.

Fees:

No more than 6 preauthorized transfers are allowed per month. Transactions in excess of this limit will be charged $10 per item.

Statement:

Quarterly. Monthly if transactions have occurred.

ATM Access:

No

Details:

Minimum deposit of $1 to open. This is a variable interest rate account. This account will be changed to a Statement Savings Account when the child turns 13. See account disclosure or deposit rate sheet for more information.

Exclusively for 12 years or younger

Club membership encourages savings

No monthly maintenance fee

No cost to young savers

Unlimited branch deposits/withdrawals

Easy access to funds with no penalty

Interest compounds daily

Earnings potential is maximized