Disclosure: In any review for a product or service, products or compensation may have been provided to me to help facilitate my review. All opinions are my own and honest. I am disclosing this in accordance with FTC Guidelines. Please see “Disclose” and "Terms of Use" tabs for more information.
Disclosure- The below is a paid post but all opinions are my own.
This coming April is National Kids Savings Month, and to celebrate, Boiling Springs Savings Bank would like to bring to our attention the Bucks Program. The Bucks Program was developed to bring savings into children’s minds at an early age. By providing children a special savings account, Boiling Springs is bringing quality banking to little customers.
Some of the best parts of the Youth Savings Account are:
-A savings account designed especially for young depositors
-Account available to youths under the age of 18
-Statement savings account with statements mailed quarterly to the account holder
-Interest earned monthly on all account balances
-Minimum opening deposit of $1.00
-$10 bonus is deposited into account if account is opened with $10 or more
Kids age 12 and under must open a Custodial Account. At age 18, the account converts to a regular Statement Savings Account. Service fees may apply to the regular Statement Savings Account and fees could reduce earnings.
Only one account per child will earn the $10. If account is closed within 1 year of opening the $10 bonus will be forfeited.
Saving is a very important trait to pass onto out children. Not only do we want our kids to be better with their money then we are in many cases, but also of course to have more of it. No one wants their kids to struggle. In school there is not enough emphasis on life skills like banking which can be taught in a few short parent-child moments which can actually teach both parties involved quite a bit. The children’s account at Boiling Springs are a perfect way to get their feet wet with a well known bank and also get them used to well known banking systems like statements in the mail, monthly interest, and minimum balance on the accounts. The added incentive of the $10 bonus makes the account even more enticing.
Also available in branches are the new Savings Money is Cool activity book which is aimed at getting kids familiar with banking terms in an activity book format as not to scare little ones away.
So be sure to get out there and get your kid educated.
My son and I went to the Upper Montclair location in NJ- be sure to check and see where there is a Boiling Springs Savings Bank near you and bring your kids to take advantage of this program soon.
I have an account for my girls but we are bad and forget to put money in it. I try to encourage my girls to keep a piggy bank to save money but they are bad also. They just want to spend.
My son saves money and we’ve been to the bank once to deposit in his savings account. We are due for another trip.
Great program! I always encourage my kids to save part of their earnings. Hopefully this will translate into their adult lives as well.
Sounds like a great program. My kids didn’t have bank accounts until they had jobs but we did have sectioned banks that included tithe, long term savings, short term savings and spending sections so that they learned how to manage their money. It worked. my oldest son bought his house at age 21 while working 3 part time jobs.
What a great program! I am about to open an account for my youngest, we don’t have that bank here, but I hope my local banks have a program like this. I love the idea of them saving money and learning the value of money!
that is a great program
they opened one in my town not too long ago. been meaning to go but haven’t … now i have a great reason! thanks for posting this!