Building Smart Financial Habits for Saving and Spending
You believe in teaching your child about setting financial goals and managing money wisely. We believe in that too and that’s why we’ve created banking options for the financial stages of your child’s life, from saving birthday money to a first job, plus money activities to learn the basics.
Kids Savers Club
Perfect for: Savers just starting out ages 0-16.
Help your child learn the importance of saving with our Kids Savers Club. It’s easy with:
- No fees or minimum balance requirement.
- Online Banking and Mobile Banking to check balances, transfer money and more.
- Special prizes when making a deposit for kids 10 and under.
- ATM access not available.
- Account will automatically covert to a Basic Savings Account during the month your child turns 16 years old.
My Future Fund
Perfect for: Savers with a bigger goal ages 0-18.
Building your child’s savings couldn’t be easier with My Future Fund. Offering one of our highest interest rates, this account:
- 5.09% APY* on the first $2,000. 5.09%-1.75% APY on balances over $2,000.
- Takes advantage of automatic deposits to help grow account balance grow.
- Can be managed through Online Banking and Mobile Banking.
- Account matures at child's 18th birthday.
* Requires a $200.00 minimum deposit to open and $50.00 automatic monthly deposit from a Merchants Bank account. Annual Percentage Yield (APY) effective May 13, 2019. Rates may change after the account is opened. Fees could reduce account earnings. Account converts to Basic Savings the month of primary owner's 18th birthday. Funds are available for withdrawal at that time.
Perfect for: Teenagers.
Limited time offer:
Get $10.00 deposited into a new Student Checking account. Mention this offer when opening a new account at any Merchants Bank location.^
Give your child the tools to understand basic money management with our Student Checking account:
^ One coupon offer available per account. Redeemable at any Merchants Bank location. Offer expires on December 31, 2021.
Frequently Asked Questions
Easy Money Activities
Help your kids learn some basic money skills with our free, printable activities for budgeting, spending and saving. Share your completed budgets and money jars on social media - and don't forget to tag us at Merchants Bank! We want to see what you're making.
Money Collection Jars
Using jars you already have, make these labels and help your kids work toward a specific money goal.
Easy as Pie Budget
Help your child work through a simple budget made of pie pieces. We're hungry just thinking about it!