Opening a savings account for your children is the first step towards raising money-savvy kids. That’s why Blackhawk Bank & Trust recently launched a comprehensive Youth Savings Program called the Little Hawk Club. While a bank account might not light up their eyes like a shiny new toy, it’s a gift that keeps on giving and forms a solid foundation for financial literacy.
1. It’s Never Too Early
Kids learn fast—just ask any parent who accidentally let a naughty word slip within earshot of their toddler. So, opening an account and a relationship with a bank early provides a simple, hands-on way to introduce the concept of money management. Members of our Little Hawk Club experience that early on when they can pick out a prize during visits to a branch!
2. Turn Pennies into Possibilities
The excitement around collecting coins for a piggy bank starts early – and continues when a child can take that piggy bank to a teller line and deposit into their own account. That’s why any child who opens a youth saving or checking account with us receives a piggy bank welcome gift; to ignite that excitement and establish the idea of saving early on.
3. Goals Become Reality
Whether it’s saving for a new bike, a video game, or even college, having a savings account helps kids understand the connection between patience and reward, and introduces concepts like deposits, withdrawals, and even interest. It’s a gentle step into the world of financial independence.
4. The Magic of Interest
Interest might sound complicated, but it’s an exciting concept for kids when they see their pennies, birthday cash, or allowance earn more money just by sitting in the account.
5. Building Confidence and Independence
Having their own account just like mom and dad gives kids a sense of ownership and responsibility over their finances. They feel proud when they save up for something big, boosting their confidence and showing them the value of their hard work.
6. Prepares Them for Life’s Bigger Financial Milestones
Opening a savings account is like training wheels for managing money. The lessons they can learn from an established relationship with a bank provide the foundation they’ll need when they’re ready for things like a checking account, student loans, or even financing a home.
Ready to Join the Little Hawk Club?
Start your child’s financial journey at Blackhawk Bank & Trust with the Little Hawk Club, where saving is fun and rewarding! Here's what they'll enjoy
- A card and gift for their birthday
- Surprises when they come in to visit a branch
- A quarterly newsletter with fun financial tips and games
- Exclusive contests and events throughout the year and more!
For more information, click here!