DANBURY – Union Savings Bank has launched a youth banking program steered toward kids ages 5-17.
The program, called “GoalGetter,” is designed to help children make smart money habits that last. With the rallying theme, “Make your child money smart. Make them a GoalGetter,” the new program turns every dollar they get, spend, save, and give into life lessons, the bank stated in a Nov. 13 press release.
“As families navigate rising costs and economic uncertainty, parents are determined to equip their children with money management skills and tools they can use for life,” said Frank Sottosanti, senior vice president and director of brand and innovation at Union Savings Bank. “We created GoalGetter to be just that. It’s not just an account or a reloadable debit card; it’s a hands-on learning experience that empowers kids with the freedom to make their own choices while keeping parents in the co-pilot seat.”
A special report from Brookings Institution highlights that children as young as 5 can reliably display savings behaviors, and elementary-aged children retain financial knowledge from modest financial exposure.
GoalGetter combines a no-fee checking account with a high-yield savings account component, offering 5.12% APY on the first $2,000.
The GoalGetter debit card provides real-world experience with parental peace of mind. Through the USB Mobile App, parents and guardians can:
- Set spending limits by amount or transaction type
- Receive real-time transaction alerts
- Instantly freeze or unfreeze the card
- Transfer emergency funds instantly
The account is designed to help eliminate financial anxiety for families, too. There are no monthly service fees and no overdraft fees.
For a limited time, Union Savings Bank is offering a $105 bonus to families who open a new GoalGetter Checking account to jump-start their child’s goals.
When a family opens a GoalGetter account, Union Savings Bank will donate a tote full of school supplies (valued at $100) to the child’s teacher as part of the bank’s Teachers’ Closet program.
“GoalGetter is about building a foundation for a lifetime of smart financial decisions,” added Sottosanti. “We’re proud to offer a program that not only aims to build wealth for the next generation but also gives back directly to the teachers in our communities.”
The GoalGetter Checking and Savings accounts can be opened with as little as $5.
