Children's Corner

Teaching Children the Importance of Money

The life-long benefits of teaching children good money habits make it well worth the effort. Children who are not taught these lessons pay the consequences for a life-time. At First Century Bank, N.A., we encourage parents to take the time to teach children about money regardless of age.  We hope that you find this page useful.  

National Teach Children to Save Day

At First Century Bank, N.A., we understand the importance of teaching our youth the value of saving for the future.  Every year, First Century Bank, N.A., works with the American Banker’s Association Education Foundation to support National Teach Children to Save Day.  This day is used to spotlight the importance of teaching our nation's youth about saving money.  Every year bankers make presentations to students in grades K-12 about budgeting, saving, recognizing needs and wants and how interest makes money grow.

Research has shown that as little as 10 hours of personal financial education positively affects students' spending and savings habits.  (National Endowment for Financial Education 2003-2004 Impact Evaluation) 

First Saver’s Account

This account is designed to offer children the opportunity to begin saving at an early age. This is an interest bearing joint account between the minor and a guardian (parent or relative). Interest is compounded daily and credited monthly. There is no minimum balance requirement for this account. A quarterly statement will be provided. Two (2) signatures are required for withdrawal. There are no service fees until the account owner reaches the age of eighteen (18). You must make at least a $5.00 opening deposit.