You’re knee-deep in Legos, navigating a sea of forgotten toys and somehow dodging the laundry pile on your living room floor. A parent’s life is a thrilling adventure filled with unexpected twists and turns, and let’s not forget the daily quest for missing socks. But fear not, fellow moms and dads, because IHMVCU Balance Builder Savings Crew is like a financial fairy godparent, swooping in to make money management a tad more magical for kids under 18 years old..
As parents, we all want our kids to succeed, and there is no better way to help set them up for success than to begin conversations and teach them about finances. IHMVCU created Balance Builder Savings Crew to help kids under 18 establish healthy saving habits.
Balance Builder Savings Crew with IHMVCU
Saving matters. Let’s do this.
Surprise the kids+teens in your life with the magic of a Balance Builder Savings Crew account. Between Nov. 15 and Dec. 31, 2023, we’ll even stuff an extra $25 into their account!1
As a Savings Crew member, members will receive financial tips and tricks tailored to their age. With this program, kids begin to learn about saving, budgeting, investing, and more, not to mention the special perks along the way:
1.) Regular emails with insider tips and updates on savings progress
Your pint-sized financiers will receive updates on their savings progress with insider tips. It’s like getting a personal message from the Savings Crew, delivered straight to your inbox.
2.) Grown up guides and activity sheets to build healthy savings habits
Ever tried explaining compound interest to a seven-year-old? It’s no easy feat. But fear not because IHMVCU has your back. Our grown-up guides and activity sheets are like financial CliffsNotes, turning saving habits into a game even the youngest members of the household can play.
3.) 3.00% APY2
Now, we won’t pretend that APY sounds as exciting as a rollercoaster ride, but trust us, it’s a financial thrill! With a 3.00% APY, your child’s savings will grow faster than their Paw Patrol toy collection or the evergrowing list of school papers.
So, parents, partner with IHMVCU to begin your journey into finance with the Balance Builder Savings Crew. More information about their program can be found on their website or by scheduling an appointment at a branch. And don’t forget about their limited-time promotion!
1IHMVCU will deposit a $25 bonus into any Balance Builder Savings Crew account opened on or before Dec. 31, 2023. The account must be open for at least 60 days, have an average daily balance of $25 and be active at the time of payout. Payout will occur in March 2024.
2APY = Annual Percentage Yield. Rates as of 11/15/23 are subject to change. Balance Builder Savings: Must meet monthly requirements to earn a qualified rate of 3.00% APY on balances up to $2,500; otherwise, a non-qualifying rate applies. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable.) Federally insured by NCUA.
About IHMCVU: We’re a member-owned financial cooperative. This means we exist solely to help our members, our team members, and our communities find success on their financial journeys, not to line the pockets of some Wall Street stockholders. Our members are our owners, and every dollar they put into IHMVCU goes back to the people and communities we serve.