Moola Moola Savings Club
What is Moola Moola Savings Club?
The Moola Moola Savings Club is a savings program at Peoples Bank that is structured just for children. This account teaches them that saving money is important… it can even be lots of fun.
We all know that telling children the importance and the benefits of saving money will only get us so far. The most effective way to put the theory into practice is to start the education process early, and what better way to do this than by enrolling them into a fun filled & exciting club all their own.
That is why the Moola Moola Savings Club, an interest bearing savings account, is a wonderful tool for both parents and grandparents. This program introduces children to money management techniques and also creates excellent savings habits that will last a lifetime.
If you have been looking for a fun and engaging way to help teach your children or grandchildren the importance of saving money—join the club!
Who can join?
The Moola Moola Savings Club is opened to children ages 0-12, with a minimum deposit of $10.00 to open the account. (The child will be the “owner” of the account, but a parent, grandparent or other adult will need to be “joint owner” of the account).
What do Members Get?
When a child becomes a member of The Moola Moola. Savings Club, they will receive a Membership kit with everything they will need to properly manage their own money. Here’s what’s included:
- The Moola Moola Savings Club account register
- Membership Card
The Moola Moola Savings Club benefits include:
- Chances to visit the Moola Moola Treasure Chest when you make a deposit.
- Members of The Moola Moola Savings Club will earn a Moola Moola Dollar for each “A” they make at the end of each semester (please bring report card for verification)
- For members who receive straight A’s at the end of each semester, the bank will deposit $5.00 into their account (please bring report card for verification)
- A special Moola Moola birthday present sent to you on your birthday
- One party a year with Moola Moola.
- Trick or Treat Moola Moola every Halloween.
- There is no minimum balance to maintain and no service charge for this account
- You are allowed 1 withdrawal per month or 6 per semi-annual cycle. Withdrawals after 1 per month or 6 per semi-annual you will be charged an excessive withdrawal fee of $3.00 per withdrawal.
- The opportunity to make saving a fun and positive experience
- A solid long-term plan: The Moola Moola Savings Club is available until the child’s 13th birthday, at which time the account will become a Regular Savings Account.
What are you waiting for? Visit Peoples Bank and talk to any one of our Customer Service Representatives, and we will get you set up to start saving today!
Peoples Bank has an array of products to meet the financial needs of your entire family—whether checking, savings, or loans.