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What is the KidsSave™
Rewards program all about?
The KidsSave Rewards program was designed to give
kids an incentive to save. It's a way for them
to earn "free" money simply by saving the money that
they get throughout the month. And who isn't
motivated by free money!
This "free" money comes in two forms: interest and
matching payouts. And yes, it also comes from
you. But it's well worth the healthy,
life-long saving habits you are helping your
children to establish.
The interest option allows you to choose the amount
of interest you would like your child's Account to
accrue each month. Unlike a regular bank
savings account, you get to set the interest rate.
This is important because your child's KidsSave
Account can grow at a much faster rate this way,
motivating your kids to save even more!
The KidsSave program will automatically calculate
the amount of interest earned based on the ending
balance at the end of the month. And, of
course, the great thing about interest is that you
continue to earn interest on the previous months'
interest. It's called compounding and it's a
beautiful thing!
The matching funds option is another great way to
motivate kids to save their money. For every
dollar your child deposits into their KidsSave
Account, it gets matched by a given amount.
You can set the amount of matching to be whatever
you want and, just like the interest, it gets
calculated by the KidsSave program at the end of the
month.
When kids see the "free" money deposited into their
Account at the end of the month it helps underscore
the value of saving their money. And that's
what KidsSave is all about!
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