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To get kids involved, teach them to save and prepare them for the future.
Welcome to F&M Bank & Trust Kids Bank!
The F&M Bank & Trust Kids Bank is the most successful Kids Bank program in Southeast Iowa. F&M Bank & Trust is very pleased to be able to offer such an outstanding program to so many of our area youth. When developing and implementing the F&M Bank & Trust Kids Bank program, teaching the concept that saving money is “never too late, nor ever too early” is our main objective. As the program grew, the focus developed into a much deeper purpose. Introducing the idea of saving money to school children not only lets the kids watch their money grow but also teaches an important life skill…responsibility. Numerous statistics show the number of adults who actually save money on a regular basis is quite low. Learning this responsible act at an early age will literally pay off for the rest of the student’s life.
Teaching children to save money at any age is not just about banking. Teaching children to save is about building character, learning responsibility, developing skills and practicing discipline that can be applied to real life situations. The strength of the F&M Bank & Trust Kids Bank Program, teaching financial skills and forming habits, will make “our kids” an asset in the communities in which we live and work.
As our Kids Bank program has thrived and grown, one thing has remained the same…F&M Bank & Trust Kids Bank is a bank for kids, run by kids. This program will continue to grow with this philosophy in mind.
F&M Bank & Trust was the first bank in Burlington to introduce the Kids Bank program to students. Working in cooperation with the staff and PTA of North Hill Elementary, the inaugural opening of the Kids Bank took place in 1997. F&M Bank & Trust enthusiastically supported this phenomenal “learning by working” project and pursued the Kids Bank program ambitiously. The idea was innovative and had the potential of being an experience for students that would reap benefits long after their school years.
During the two years following the opening of North Hill Elementary School Kids Bank, F&M Bank & Trust recruited Notre Dame Catholic Elementary, Perkins and Sunnyside Elementary Schools. West Burlington Elementary followed in 2002. Three years later, Black Hawk Elementary was added in 2005. F&M Bank & Trust has also added Great River Christian School and Corse Elementary in 2006.
. Minimum opening deposit $1.00
. Minimum weekly deposit $1.00
. Maximum weekly deposit $20.00
. Withdrawals over $5.00 will require a parental note.
. Interest rate of 4 ½% APR (subject to change without notice)
. Minimum balance required to keep an account open $1.00
. Each account must have at least one transaction during the school year.
. Statements will be distributed to the child quarterly at school.
. At the end of 6th grade, or upon transfer to another school the student's kids bank account will be closed. The student may open a new Dream Big Savings account at on of the F&M Bank & Trust locations.
. Kids Bank clients can continue banking during the summer months at any F&M Bank & Trust location.
Not a registered student attending one of our Kids Bank Schools? The F&M Bank & Trust College Savings Plan is just for you.
Students will receive notice when opening day will be for the school year. Each school has different set days and hours.
Along with all of life's lessons that we teach our kids, how often is financial education added to those lessons? One of the most important skills is educating our youth on financial responsibility and discipline. As parents we all want our children to feel safe secure and worry free. F&M Bank & Trust would like to help you, teach your child, to become financial wise with healthy monetary attitudes. We would like to offer you a FREE guide that is informative and handy for taking those steps to begin educating your child. If you are interested in receiving our Money Smart Kids Guide as well as an additional listing of resources, please contact Vicki Bredar.
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