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Pull the Curtain on Children's Financial Literacy

Pull the Curtain on Children's Financial Literacy 4/18/2017

Going to the movies with your children can be a life-long experience and an experience that doesn’t have to end when your kids have their own kids. You might have noticed April is Financial Literacy Month so you might guess where we are going with this. 

Centennial Bank has a First Account¹ designed for children 18 and under.  It requires a $10 minimum opening balance but once opened does not have a minimum balance to maintain. The account earns interest and provides you with 3 free withdrawals each month.  It does have a $1 fee if you exceed 3 withdrawals and it limits out at 6 per month but knowing this on the front end will allow you to plan your trips to a convenient branch when needed.

As a Centennial Bank account holder you can transfer funds into this account easily using our online² or mobile banking³ platforms. To get more out of your movie experience let your kids take you to the movie and begin to teach them how much things cost and how to manage money.

Try It:

  1. Bring your child or children into Centennial Bank and open a First Account
  2. Request to enroll in Online or Mobile Banking if you have not already
  3. Transfer money using Online or Mobile Banking into the First Account of your child(ren).
  4. Plan your experience in a way to get the kid(s) into the branch or drive-thru during operating hours
  5. Work the numbers with your child beforehand so they know how much to take out for the movie and refreshments based on the available funds they have
  6. Offer suggestions once you reach the theatre as to how they could save for a second movie or other hypothetical situations involving the budgeting of their money
  7. Enjoy the experience of the movie!
     

This is a fun and meaningful way to get even more out of your movie experience with your children. Who knows…you might even eliminate having to go to the concession stand mid-way through a movie and coming back to ask, “What did I miss?” Their reply being, “You missed the best part!”


Disclosures:

¹First Accounts automatically change to Personal Savings Accounts upon the owner’s 19th birthday
²Enrollment required. Some restrictions may apply. See Bank for details
³Enrollment required. Some restrictions may apply. Message and data rates may apply from your wireless carrier.

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