photo-kids-clubCome to any Herrin, Carterville, or Marion location and join our Kid’s Club today! A member of our friendly staff would be happy to sit down with you and your family and tell you how you can save your money at the Bank of Herrin!

Hey Parents!

Bank of Herrin Kid’s Club is a great way for your child to understand how to save money and have fun too! We have designed this youth savings program to make it easy for kids to understand and manage. Plus, we want your children to benefit from banking with us, which is why we offer them interest bearing accounts. Our only requirement is that your child is under fourteen years of age and that their account has a minimum balance of $10! Bring your little one to start saving big today!

Rate Information: Your interest rate and annual percentage yield may change.

Frequency of Rate Changes:  We may change the interest rate on your account at any time.

Determination of Rate: At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account: You must deposit $10.00 to open this account.

Minimum balance to avoid imposition of fees: A maintenance charge of $0.50 will be imposed every statement cycle if the balance in the account falls below $10.00 any day of the cycle.

Minimum Balance to obtain the annual percentage yield disclosed: You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits – Interest is paid on collected funds only and begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction Limitations: Transfers from a Kid’s Club savings account to another account or to their parties by preauthorized, automatic,  telephone transfer, or mobile banking transfer are limited to six per month with no transfers by check, draft, debit card or similar order to third parties.

Fees: A service charge fee of $0.50  will be charged for each debit transaction in excess of three withdrawals of any type during the month.

Additional Information: You must be 14 years or younger.