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Kids Savings

We would like to assist you in taking an active role in your child or grandchild’s financial education. Our hope is to assist you in creating healthy money management habits in your children. We have put together a fun and educational plan for your child’s financial success. Managing money is not easy but it’s important, and there is no better time to start than right now! Our kids savings accounts are customized based on your child’s age. To learn more, see below:

Little Savers Club (Ages 0-3)

Visual Education

Studies show that kids at this age learn by touching and seeing money. Kids need to see money to understand the concept.

  • Kids need to put coins in jars or piggy banks and watch it grow.
  • Kids need to enjoy paying for items at the store.
  • Teaching kids they need to save to purchase items is a strong learning tool for your child.
  • Gothenburg State Bank will provide piggy banks to all members of the Little Savers Club to assist with the visual savings experience.
  • By enrolling your child, they will automatically be entitled to transition to the future phases of the Kids Accounts.
  • High yielding Kids Savings Account.

Crayon Account (Ages 4-13)

Building a Financial Foundation

Kids ages 4-13 will be introduced to the benefits of having a savings account.

  • We will provide educational material from the Dave Ramsey Company that specializes in financial education for both youth and adults. Dave Ramsey is a nationally recognized expert in financial planning.
  • When your child signs up for the Crayon Account, they will receive Dave Ramsey's Teaching Kids About Money kit free of charge.
  • Free box of crayons and an educational coloring book.
  • Coloring contests and quarterly newsletters.
  • Savings account deposit book.
  • Account deposit rewards (toys and books).
  • High yielding Kids Savings Account.

Super Savers Account
(one calendar year only, between ages 10-13)

Reinforce and Reward

You choose when your child is ready to put their savings skills to work. Anytime between the ages of 10-13, savers have a one-time option to change to a “Super Saver” account (starts each year on July 1). Using this account, they will be rewarded a special interest rate for monthly deposits made to the account. It is important for your child to put to work all the financial education they have received.

  • This is a High Yielding Kids Savings Account.
  • This deposit-only account requires a monthly deposit of at least $25 to maintain this exceptional interest rate.
  • These exceptional rates will reinforce the benefit of investing and saving money for today and for the future. This is a perfect time to learn these concepts before opening their first checking account.
  • Teaching financial responsibility is our number one goal!
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