Kids Savings Program

BIG LESSONS FOR LITTLE SAVES

KIDS SAVINGS PROGRAM

Teaching kids about money doesn’t have to be complicated — it just has to start.

At Owatonna Profinium Bank, our Kids Savings Program is designed to help children build healthy money habits early. From their first deposit to learning how interest works, we’re here to make saving fun, simple, and rewarding.

Develop smart spending habits

Understand the value of earning

Feel confident managing money as teens and adults

Giving Back

Giving back is an important part of learning about money. Through our Giving Back component, children can earn bonus punches or special recognition for acts of kindness and community involvement. Whether it’s helping a neighbor, volunteering, or supporting a local cause, this feature encourages kids to see how their actions can make a positive impact while reinforcing Profinium’s strong community values.

Join us for Our First Kids Savings Workshop

We’re excited to host a Kids Savings Workshop designed to make learning about money fun, interactive, and age-appropriate!
Agenda:

 

Workshop Agenda
Welcome
• Introductions
• Why saving early matters
 
Breakout Sessions
Kids Session
• What is money?
• Needs vs. wants
• Saving for a goal activity
Parent Mini-Session
• How to talk about money without stress
• Allowances, chores, and savings goals
• How Profinium supports kids as they grow
 
Wrap-Up & Next Steps
• Savings challenge handout
• Optional account opening from 4:30–5:00 PM
• Thank you + connection time
 
Whether your child is just starting to learn about money or already saving birthday cash, this workshop is a great way to build confidence and financial skills early.
When:
April 1st, 2026
3:30-4:30 pm
 
From 4:30-5 pm, connect with our bankers! Ask questions, enroll your kid in a savings account or learn more about Profinium!
Location:
Profinium Bank – Owatonna
1080 W Frontage Rd
Owatonna, MN 55060
Register Here:
 

Frequently asked questions

The primary account owner must be under the age of 18. A parent or guardian will be listed as a joint owner on the account.

The current interest rate is 1.00% with an Annual Percentage Yield (APY) of 1.00%.

Your interest rate and APY may change at any time, at our discretion. There are no maximum or minimum interest rate limits. Fees may reduce earnings.

For the most current rate information, please call (800) 254-6197.

No. There are no minimum balance requirements for this account.
Interest begins to accrue no later than the business day we receive credit for noncash deposits (such as checks).

When the primary account owner turns 18, the account will automatically convert to a Pro Saver Savings Account (or similar product).

At that time:

  • A new Truth in Savings disclosure will be sent

  • Account owners may remove joint owners if desired

  • The account will follow the terms of the updated product

ELIGIBILITY REQUIREMENTS. The primary account owner must be under the age of 18.

RATE INFORMATION. The interest rate on your account is 1.00% with an annual percentage yield of 1.00%. Your interest rate and annual percentage yield may change.

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

Frequency of Rate Changes. We may change the interest rate on your account at any time. Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account. Additional Rate Information. Fees may reduce earnings.

COMPOUNDING AND CREDITING. Interest will be compounded monthly and will be credited to the account monthly. If you close your account before interest is credited, you will not receive the accrued interest. Interest will be paid on the statement cycle.

MINIMUM BALANCE REQUIREMENTS. No minimum balance requirements apply to this account.

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

The daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the daily balance on which interest is paid.

ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

TRANSACTION LIMITATIONS. No transaction limitations apply to this account.

ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT. When the primary account owner turns 18 years old, the account will convert to a Pro Saver savings account, or similar product. A new truth in savings disclosure will be sent to the account owners for the updated Pro Saver savings account, or similar product. The account owners will have the option to remove any joint owners once the primary account owner turns 18 years old.

FEES AND CHARGES. Please refer to the separate Consumer Checking and Savings, Pro Biz Checking and Savings, and Safe Deposit Box Product Fee Schedules provided to you with this disclosure for information about fees and charges associated with this account. A Consumer Checking and Savings, Pro Biz Checking and Savings, and Safe Deposit Box Product Fee Schedules will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

CURRENT RATE INFORMATION. The rate(s) and annual percentage yield(s) disclosed above were offered within the most recent seven calendar days, and were accurate as of 02/02/2026. To obtain the current rate(s) and annual percentage yield information, please call (800)254-6197.