Montgomery Bank Kid's Club
Why a Montgomery Bank Kid's Club Account?
It's never too early to begin helping prepare for your child or your grandchild's future. The Montgomery Bank Kid's Club is a great product that was developed not only to make saving fun for kids, but to also help parents and grandparents teach kids about money and the importance of saving.
As part of their Montgomery Bank Kid's Club Account, your young saver will receive their own Pass Book. They'll also receive a greeting card from Monty on their birthday and during the Holidays. Plus, once their balance reaches $100, they'll receive their very own plush Monty dog!
Opening a Kid's Account
The Montgomery Bank Kid’s Club is available to all children ages 12 and under. Opening a Montgomery Bank Kid’s Club Account for your child is easy. Simply visit any of our convenient Montgomery Bank locations. Two forms of identification are required (birth certificate, social security card, etc.) Our Personal Bankers have all of the information you need to get your child or grandchild set up to start saving.
Helping Your Kids Save
Money Talks is a newsletter published by the ABA Education Foundation that contains practical advice, thought-provoking ideas and age-appropriate activities for parents, grandparents and other caring adults to bring money lessons alive for kids and young adults.
Download Money Talks. Please download and read these newsletters, and ask your banker if you have any questions.
The American Bankers Association offers a number of resources to help teach your child how to save! Visit their page below!
©American Bankers Association Education Foundation. All rights reserved. Reprinted with permission.
Saving for School
There's no escaping the fact that college costs are rising, but there is good news. You can begin saving now for your child's future college education with our Montgomery Bank Kid's Club.
So what are you waiting for? Contact one of our personal bankers today to open your child’s Kid’s Club account!
Montgomery in the Classroom
Montgomery Bank actively participates in National Get Smart About Credit Day in October and Teach Children To Save Day in April, both financial literacy programs sponsored by the American Banker’s Association.
If you would like to schedule a presentation on credit at your school, please contact Shannon LeGrand at 573-986-5530.
*Kid’s Club Savings is a tiered, interest-bearing savings account. The interest rate and corresponding annual percentage yield (APY) are tiered. If the daily balance in the account is $500.00 or less, the interest rate paid on the entire balance will be 4.92% with an annual percentage yield of 5.01%. An interest rate of .15% will be paid only for that portion of your daily balance that is greater than $500.00. The annual percentage yield for this tier will range from 5.01% to .39%, depending on the balance in the account. (APY calculations are based on a total deposit balance of $10,000.) Rate is effective as of March 1, 2017. $50.00 minimum opening deposit is required. There is no minimum balance required or monthly maintenance fee. Fees could reduce earnings. Rates are variable and are subject to change at the bank’s discretion. Rates are calculated on a daily balance method. You may make six (6) transfers from your account each quarter, by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail, or at an ATM are unlimited. The methods of account access vary by product type, and certain account access methods may not be available with all products. If withdrawals exceed 9 per quarter, a $1.00 per item fee will be charged. Limited to one Kid’s Club Savings account per child. At the age of thirteen (13), the account will be converted to a Montgomery Blue Savings account, and will be assessed a $10.00 service charge if the balance falls below $100 at any time during the quarter. For further information, click here.