Raise a Financially Secure Child with Co-operative’s Jumbo Junior Account

All parents want for their kids is the best in life. Best quality health care, best foods, good friends and the best education among other things.

All these things require thorough preparations. You need to be financially capable of providing your children with these essentials.

And truth be told, educating one child from the time they are three years old to the time they reach college is quite expensive, especially for the middle class.

But imagine how much easier it is for a parent who saved to secure his or her child’s future. There is minimal or no struggle in raising funds for education and other things.

Financial security is key to ensuring that our lives are as peaceful as required. It refers to the peace of mind you feel when you are not worried about whether your income is enough to cover your expenses.

When one is financially secure, they have one less thing in their lives to worry about, which is good for one’s health.

Financial preparedness for people with children is important as one can avoid loans or fundraising for kids’ education.

You may have witnessed cases of children missing out on secondary schools of their choice because maybe their parents are unable to manage the costs, or failing to join college because of the same reason.

If you are like most parents who would like their children to study up to college, then you need to start saving as early as now, regardless of your child’s age.

By starting a savings plan early, even before your child begins elementary school, you can reduce the burden of taking on high debt to pay for his or her higher education and the future in general.

By so doing, you cultivate the culture of saving for the future in your kids. It is wonderful to have children who are financially independent.

The Co-operative Bank of Kenya makes this possible with their Jumbo Junior account which enables children to save and have long-term financial security.

This account is a transactional account designed for children below the age of 18 years for the safekeeping of money.

Features of A Jumbo Junior Account

Automatic membership to the Jumbo Junior Club, which entitles one to:

• Free electronic-bank on opening a new account
• Free birthday cards every anniversary
• Negotiated discounts on presentation of a Jumbo Junior Debit Card at selected bookshops, uniform distributors, and hospitals (Gertrude’s Children Hospital)

Upgrade of Jumbo Junior customers

Discounted bank cheques for fees paid for account holders only

This being a transactional account, no interest is payable.

The requirements when opening up a Jumbo Junior account for your child include the following:

1. Parent’s or guardian’s original ID Card as well as a copy
2. Copy of birth certificate of the child, or notification of a birth or baptismal card
3. The minimum opening balance of 1,050 shillings
4. The minimum operating balance of 500 shillings