Youth Savings Account
Meet Penny the Owl See most current newsletter for youth savers
Saving money early is a great life lesson for a young person. Getting the power of time and compounded interest working for a young saver pays financial benefits.
Any DSB savings account that has joint ownership with a person age 18 or under, or that is under custodial care of an adult, is considered to be a Youth Savings Account. Features are:
- No minimum deposit to open account.
- No monthly maintenance fee if signor is age 18 and under (up to 18th birthday).
- Interest compounded/credited quarterly.
- View the other features of a Youth Savings account.
- Deposit into an Education Savings Accounts (ESA) as well, receive certain tax advantages.
Young savers: Join Penny the Owl to earn rewards
Younger savers, particularly those at the pre- and grade-school ages, are welcome to participate in the “Penny” feature. By owning a Youth Savings account, young depositors can:
- Get rewards for earned leaves: Earn leaves on a tree that is the home of DSB's Penny the Owl. Each deposit made in person at a DSB location to the account will earn one leaf. After accumulating 5 leaves, depositors will earn a trip to Penny’s Prize Store inside any DSB location and select a prize. If a deposit is made electornically, by ACH, online transfer, or through DSB mobile remote deposit, the depositor will need to visit a DSB customer service person inside the bank within 30 days of the transaction to claim a leaf.
- Get rewards for good grades: Earn a trip to Penny’s Prize Store by presenting a grade card from their school containing all A’s or S’s within 30 days to a DSB customer service representative.
- Get birthday money: Receive $1.00 deposit to their savings account as a birthday gift from Penny. Depositors who visit a DSB location in person during their birthday month will receive the $1.00 deposit.
- See Penny the Owl: Watch for DSB's Penny the Owl at local parades, events, and visits to schools all while teaching youth about the importance of savings and how to form regular savings habits.
- Get newsletter: Visit the bank web site www.dsbks.com for an educational quarterly newsletter from Penny featuring fun savings facts, activities, and upcoming youth savings program events.
Newsletter: August 2018
Newsletter: May 2018