Kids Become Power Savers at First Citizens National Bank
Kids are important customers at First Citizens National Bank. Recognizing the importance of helping kids to learn basic financial skills, the bank was prompted to create the Power Saver Club for kids through age 12. Kids open their very own Power Saver Account and receive their choice of a power saver t-shirt, bib, piggy bank or money bag as well as getting an account register to help them learn more about how their account works.
Not only do children have the opportunity to learn about savings accounts but the bank also encourages kids to continue to deposit money through the punch card program. For each minimum deposit of $5 into their account, kids get a punch on their card. Once their card has 19 punches, First Citizens National Bank puts an additional $5 into their account.
First Citizens National Bank is committed to giving back to their community and has expanded the Power Savers program to include more than just a savings account. The main focus of the program is the education component with regards to teaching good savings habits and skills. The program provides a newsletter and other educational opportunities as well as the savings account for kids to practice what they’ve learned.
The Check it Out book program encourages kids to read. The bank purchases over ____ books each year that are read and then donated to local libraries, hospitals and doctors’ offices in the seven county area that First Citizens National Bank has branches in.
The Power Saver Club also encourages creativity in children through various contests. Kids are encouraged to bring in the coloring pages from the newsletter every year to have displayed in the bank. The yearly calendar also features the artwork of Power Saver members who are encouraged to submit their work for prizes.
“We’ve changed our program recently to make it more meaningful for the kids,” said Connie Anderson, Vice President of Marketing at First Citizens National Bank. “We wanted to help the kids see that they can save for a reason.”
First Citizens National Bank is truly committed to the youth in their communities. The bank also goes into area classrooms to teach kids about financial literacy and the importance of good spending habits.
“This has been just a great club for us,” said Marti Rodamaker, President and CEO of First Citizens National Bank. “While the program does get our name out into the community, ultimately the goal is education; the kids are our top priority.”
The Power Savers Club has encouraged the involvement of their current bank customers as well as drawn many new customers. The Club currently has over 2,200 members with total deposits of $885,400.
The hard work on the part of the bank staff paid off as the project won a Gold Award at the 2006 Best of Iowa Awards in the Community Development Division.
“What we really want kids to know is that bankers aren’t scary, they’re just normal people,” said Rodamaker. “This program helps us teach that.”
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