Oklahoma City-area banks offer financial planning programs, tips for kids

First Fidelity Bank, Kirkpatrick Bank and MidFirst Bank have programs that teach kids about maintaining checking and savings accounts.
by Brianna Bailey Modified: March 12, 2013 at 8:07 pm •  Published: March 13, 2013
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“It's always a good idea to teach children about saving and building interest by getting them a savings account — it helps them build good habits,” Harris said.

MidFirst Bank introduced a savings account program called iSave in 2008 to teach children about the importance of saving money. The iSave account is available at MidFirst to anyone age 17 or under.

The accounts pay a higher interest rate than other savings accounts, and MidFirst will match 50 percent of the average of the highest single deposit each month up to $25.

While MidFirst would not disclose how many participants the program has, it has become popular with many of its customers, the company said in response to an inquiry from The Oklahoman.

“The iSave match formula helps establish a saving habit by rewarding children for making deposits on a regular basis,” MidFirst said in a statement. “Children learn through repetition and positive reinforcement. A reward for setting a goal and faithfully making deposits for 12 months gives children a sense of accomplishment and confidence that may carry over to other aspects of their lives.”


by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the Univerisity of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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It's always a good idea to teach children about saving and building interest by getting them a savings account — it helps them build good habits.”

Lauren Harris,
Banking officer for First Fidelity

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