Earn, Learn and Have Fun!
You’re never too young to be a member of Ripco Credit Union. With our Honey Pot Kids Club, tomorrow’s leaders learn the good habits that will help them throughout their financial future.
Oh, and we make it fun too!
Fast Facts about the Honey Pot Kids Club Account
- Designed for kids younger than 12 years old
- Open an account for $1.00 plus the purchase of one share ($5.00) if you are not already a member
- Get your own special Kids Club ID card
- Receive fun welcome gifts
- Earn small prizes when you stop in to make deposits
- Earn 2.00% APR on the first $500.00* deposited in your Honey Pot Kids Club Account; regular posted savings rates thereafter
- Receive invitations to special events for Honey Pot Kids Club members
- Develop lifetime saving habits
- Make up to six withdrawals in a month without penalty
*2.00% APR; 2.02% prospective Annual Percentage Yield.
How it Works
The dividend rate and annual percentage yield may change periodically. We may change the dividend rate for your account as determined by the Credit Union Board of Directors. Dividends will be compounded and credited to your account every quarter.
Minimum Balance Requirements
You must maintain your membership share and a minimum daily balance of $1.00 in your Honey Pot Kids Club Account each day to obtain the disclosed annual percentage yield. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized; automatic; or computer transfer, telephonic order or instruction, or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
For each withdrawal in excess of six during a month, in addition to being subject to closure, your account may be subject to a fee in an amount to be determined from time to time by the credit union. Also, your access to electronic services and overdraft protection may be temporarily or permanently suspended when transfer limitations are exceeded.