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Passbooks teach kids the rewards of saving

Published on Tuesday, January 19, 2016

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Passbooks teach kids the rewards of saving
By Citizens Building & Loan

Many parents and grandparents are opening passbook savings accounts for their children. They see a passbook savings account as a useful teaching tool to help kids learn and appreciate how to save.  One reason is that a passbook is tangible, it is a small booklet that keeps a running record of all the savings transactions.

Unlike online accounts, kids can hold a passbook in their hands and see how their money is growing every time they make a deposit. What’s more, having to make a purposeful effort to save, by coming in with the passbook to make the deposits, helps kids develop lifelong savings habits.

CBL offers families a special passbook just for this purpose – the Kids Count Savings Account. The opening deposit is $10, and comes with a Kids Count Passbook and a free piggy bank.

Many CBL customers have made it a regular family event to come in with their children or grandchildren and make a deposit into the Kids Count Account. It is a fun and rewarding way to create memories and pass down the importance of savings. 

Learn more about CBL’s Kids Count Savings Accounts here.

• Citizens Building & Loan, at 229 Trade Street, has been serving the mortgage lending and savings needs of Greer and the surrounding communities since 1907.

 

 

 

 

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