Youth Banking Made Easy: Start Smart with Our Specialized Programs

We at Farmers State Bank think that it is never too early to begin teaching children about money matters. Our youth banking programs are aimed at preparing young persons to become responsible users of money right from their youthful age. We make banking simple, fun and easy to understand so that the younger generation can take charge of their financial lives. Whether it is a first time savings account, financial education material, or youth oriented programs for teenagers, our youth banking products are designed to make money management simple and fun.

Why Youth Banking Matters

Some of the most important things that people should learn in their young ages are financial management, but these skills are often taught when one is already an adult. Therefore, the more we familiarize young people with financial concepts right from their youth, the better place they will be to attain this goal. Youth banking programs are designed to be practical, making it easier for our young people to learn through practice. Starting from the ability to set savings goals, to the simplest principles of budgeting, our programs help young customers become financially literate, and help them when they grow up.

Kid-Friendly Savings Accounts

We have a specially developed Youth Savings Account for children of up to 12 years of age to encourage saving. This account provides reasonable interest rates with no charges for the maintenance of the account hence allowing the kids to have their money grow with time. This account will enable parents to pass on the message on the necessity of saving, how to plan for the future and even budgeting. In addition, you can make use of our online banking options and the children can monitor their balances and their progress in the secured children’s environment.

Benefits of the Youth Savings Account:

No monthly maintenance fees
Competitive interest rates on all balances
Easy online access to view balances and track growth
Parental controls for a safe, monitored experience

This account provides a great opportunity for kids to save up for a special purchase, understand the value of delayed gratification, and learn the basics of how a bank account works.

Checking Accounts for Teens

For teens aged 13 to 18, our Teen Checking Account introduces the essentials of responsible spending and saving. This account is perfect for teens with part-time jobs or those who receive allowances, providing a practical way to manage their own money. With a debit card, online banking, and mobile app access, this account offers the flexibility and control teens need as they start to manage their finances more independently.

Features of the Teen Checking Account:

No minimum balance requirements
Free debit card for everyday purchases
Online and mobile banking access for real-time tracking
Optional parental oversight for spending limits and transaction monitoring

This account also offers lessons in budgeting and financial responsibility, helping teens understand the importance of tracking their spending, setting financial goals, and managing their finances wisely.

Financial Literacy Resources

At Farmers State Bank, we believe that financial literacy is key to lifelong financial health. Our youth banking program includes a range of educational resources, workshops, and interactive tools that teach children and teens about budgeting, saving, and responsible spending. From online games that reinforce money management concepts to in-branch workshops led by our experienced staff, we offer engaging resources that make learning about money fun and easy.

Our team is passionate about helping young people understand the fundamentals of personal finance, so they can make informed decisions as they grow. These resources provide an opportunity for kids and teens to ask questions, explore financial concepts, and build a solid understanding of money management.

College Savings Programs

For families planning for college expenses, we offer specialized savings accounts that make it easier to save for higher education. Our 529 College Savings Plan allows families to set aside funds for their child’s college tuition, with tax advantages that make saving even more rewarding. These accounts offer flexibility, allowing families to contribute as much or as little as they’re able, making the dream of a college education more attainable.

By starting a college savings plan early, parents can take advantage of compounding growth over time, giving their children a financial head start when it’s time to pursue higher education. Our team is here to help families choose the best plan based on their financial goals and the needs of their children.

Youth Banking Events and Workshops

Farmers State Bank hosts regular youth banking events and workshops designed to engage and educate young people in a hands-on setting. These events, held in-branch and online, cover a variety of topics, including budgeting basics, saving strategies, and understanding credit. Our team members lead interactive sessions that make learning about money exciting and approachable.

These workshops are a fantastic way for kids and teens to explore money management topics, ask questions, and connect with peers who are also on their financial journey. By fostering a supportive learning environment, we help young people gain confidence in their financial knowledge and skills.

Parental Involvement and Guidance

We recognize that parents play a crucial role in shaping their children’s financial habits. That’s why Farmers State Bank provides parents with resources and guidance on how to talk to their kids about money. Our youth banking accounts offer optional parental controls, allowing parents to monitor their child’s spending and set limits as needed. By working together, we help young people develop good money habits that will benefit them for years to come.

Bottom Line

Our youth banking programs at Farmers State Bank are designed to make financial education accessible, engaging, and meaningful. By providing accounts and resources tailored specifically for young people, we empower the next generation to build a strong foundation for financial success. Join us at Farmers State Bank, where learning about money is easy, fun, and rewarding. Let’s work together to give your child the tools they need to start smart and make informed financial choices that will set them up for a bright future.