Does Your Piggy Bank Have Great Interest Rates? The Benefits of a Junior Savings Account
Keeping a cute piggy bank on the shelf of your little one’s room to place loose change or store surprise birthday money can be a great way to start saving for your son or daughter’s future, but have you asked that same piggy bank what interest rate your money earns as time goes by? Here are some great reasons why it might be time to deposit that money in a junior savings account at your local, friendly American Eagle Credit Union (AECU) branch.
· It encourages money awareness. Starting good savings habits early in life can begin a great discussion about money—how to track spending and making wise saving decisions at a young age can empower your young one to recognize and adapt smart financial habits that last a life-time.
· Good savings habits are contagious. It’s easy to put your children/grandchildren/nieces/nephews/little ones before your own needs. Maybe you’ve created a savings account for them, but haven’t had one since your last emergency funds were used. Saving for your own future is just as important, don’t be afraid to start saving for retirement and watch your own financial security grow.
· Smart saving is rewarded at our credit union. AECU’s Junior Account Program reinforces the rewards of regular savings. Your son/daughter will receive a post card every other month with an incentive giveaway just for making a deposit!
Earn and Learn Savings
Once your Junior Account is open, make sure to ask about opening an Earn and Learn Savings account with one of our personal service counselors or when you open your new account online. Your junior achiever will earn 3.51%* on savings up to $1,000!
It All Starts With Five Dollars
Get started with a junior account—or a new member savings account for yourself—with a simple five dollars.
Remember, a penny saved is a penny earned. Do you have any tips or tricks to help develop good saving habits? Tell us in the comments!
*Earn and Learn Savings Account is available to members up through age 21. APY= Annual Percentage Yield; $5 minimum average daily balance required to earn interest. 3.51% APY earned on average daily balance up to $1,000; 0.15% APY earned for any balance greater than $1000. See rates for complete details. For a complete deposit account disclosure simply click the link, stop by a local branch or call our Member Contact Center at 877-325-2848. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency.
