I'm not sure how old I was when I got my very first savings account, but I remember the little blue vinyl passbook that I had and updated penny by penny. My dad (RIP) worked at US Bank for bulk of his years and used to make the deposits for me in the branch on the way to work. He had perfect, banker handwriting.
Boy oh boy! Times have changed!
Nate opened his first personal savings account today. At a credit union. I don't know why that seems so different, but we are new to credit union life. They'll know Nate's name for sure.
We walked into the branch, Nate, Ian and I and Nate was grinning ear to ear. He got to sit at the desk of Shay, our bank teller, and help me fill out his paperwork. He handed over his big basket of savings - and let me tell you, convincing this child that he still owns the money was something else. Getting him to save, not spend every time he has a quarter, has been something else.
Initial Deposit: $65.74
First withdrawal: $25 (next stop was the Lego store)
Getting a $20 bill and a $5 bill was about the best thing that he'd seen all week!
Gone are the days of the little blue passbook. Nate will be paperless and manage his account online - very eco friendly if I do say so myself! A five year old with a username and password - what's next?!
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