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. |
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Target Market: |
Parents, grandparents and children under the age of 12. |
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Fees: |
No more than 6 preauthorized transfers are allowed per month. Transactions in excess of this limit will be charged $10 per item. |
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Statement: |
Quarterly. Monthly if transactions have occurred. |
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ATM Access: |
No |
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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. |
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FEATURES AND BENEFITS | ||
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Exclusively for 12 years or younger |
Club membership encourages savings |
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No monthly maintenance fee |
No cost to young savers |
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Unlimited branch deposits/withdrawals |
Easy access to funds with no penalty |
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Interest compounds daily |
Earnings potential is maximized |
Complimentary Products and Services
- Certificate of Deposit
- Education Savings Account