ACCESS Bank has said that its Early Savers Account is designed to actively engage children and help them develop financial skills. Group Head, Inclusive Banking, Access Bank Plc, Mrs. Ope Wemi-Jones stated this while discussing the product with Financial Vanguard.
According to Wemi-Jones the account was specially designed to cater for the banking and financial education needs of children below 16 years of age. Expectant mothers/parents are also encouraged to save for their unborn babies in order to secure their future.
With the Early Savers Account, children have access to a bouquet of financial solutions such as attractive interest rates,experiential Holiday Banking, membershipof the Early Savers Club, and access to free quarterly edutainment newsletter.
The children also have a chance to participate in special events such as; Annual Global Money Week and Children’s Day while parents can take advantage of Access Bank “advance for school fees loans” and “the education savings plan” Furthermore, mums benefit from the “W Initiative” which is a platformthat seeks to inspire, connect and empower women.
She said that since its inception, the Early Savers Account has introduced a number of initiatives aimed at helping raise the next generation of financially savvy adults. Some of these initiatives include the Early Savers Radio, Early Savers Club, Holiday Banking for Children, Advance for Schools Fees and the Education Savings Plan.
She explained that: “The Early Savers Radio is a fun filled 15 minutes educational radio show designed to promote the understanding of basic financial management for children aged 8– 15 years.Financial literacy clubThe show which commenced in 2016 is aired live every Tuesday and Thursday from 7:15 – 7:30 am on Cool FM. The questions and answers segment of the show has rewarded hundreds of winners with fantastic prizes.“Early Savers Club is a financial literacy club for children. The objective of the clubis to teach children about money, importance of savings, how to spend smart, planning for the future and the value of giving in a fun and interactive way. Since its launch in 2011, the club has thousands of children in schools, faith based organizations and suitable clusters of children where we deploy our game-based financial literacy kit free of charge.Holiday Banking for Children, she explained is part of Access Bank’s overallstrategy to promote financial inclusion and literacy of children. “It is campaign toencourage parents to bring their children to the bank to experience hands-on banking with the underlying benefit of acquiring new Early Savers Account holders and banking with Access Bank. Since inception, the campaign has hostedover ten thousand children.
