Invest in your children's future with Greenback Jack
It’s never too early to start teaching your children about money. School is starting up again and this is a great time to educate them on the importance of earnings, savings, and investments, while having fun at the same time.
Learning good saving and spending habits are valuable life lessons, but they take time to master. Opening a savings account for your children is a great way to introduce these concepts at a young age. A savings account provides your children the opportunity to form good banking habits and gives them a place to deposit any allowance, birthday money, or extra cash.
When you’re ready to take the next step in opening a savings account, Regional Missouri Bank offers accounts that rewards children for their deposits. Our Greenback Jack Savings Club is designed for children through 12 years of age. The account may either be set up as a Savings or Certificate of Deposit. Upon opening an account with as little as a $10.00 deposit for a Savings Account or $100 for a Certificate of Deposit, club members get a space stamped on the stamp collection card. For every $5.00 deposited, a stamp is earned. The maximum number of stamps that can be earned or redeemed in a day is 40. A special “stamp store” is located at each branch, where members can “shop” for merchandise such as toys, gift certificates, and more.
Once children reach the age of 12, they will no longer be eligible for the benefits of our Greenback Jack Savings Club. At this time, the Greenback Jack Savings Account will be converted to a Student Savings Account. They will be eligible for this account if they are a fulltime student and under the age of 23. Greenback Jack Certificates of Deposit maturing after the children reach the age of 12 must be changed to a Regular Certificate of Deposit or redeemed.
Our Greenback Jack Savings Club allows your children a safe place to set aside money and earn rewards. As they get older, you could encourage them to continue saving by contributing to a Student Savings Account, Checking Account, or Certificate of Deposit. For more information about our Greenback Jack Savings Club or any of our other accounts, stop into one of our nine branches or call us today!