You have big dreams for them.

Make financial freedom one of them.

The Strong Saver Program is taking flight! Strong Saver is a rewarding savings program for those 18 and younger, geared towards promoting strong savings and financial literacy.

  • Only 14% of students have taken a personal finance course in school

  • 46% of parents have spoken to their children about needs versus wants. Are you one of them? Start the conversation today. We would be happy to help.

  • A child with a college savings account is seven times more likely to attend college than one without, regardless of income, race, or academic achievement. Start saving today with a Strong Saver Passbook Savings.

    •  Source: ABA Teach Children to Save

Make Savings Rewarding

This program is structured to help facilitate strong savings, the following is an overview of the program, please see full program details at the bottom of this page or click for program details.

Your child will start with a Strong Saver Passbook Savings Account, and will receive a one-time new account reward. As your child builds his or her savings, they can then use those Strong Saver Passbook funds to open a Strong Saver CD (min. $500). Based on the amount of their deposit from their passbook into their new CD, they will be eligible to receive rewards at the end of the CD term. Upon renewal your child will have the opportunity to receive additional rewards.

Children who qualify for rewards will be rewarded for their diligent savings. Through this program children will be able to see their balances increase. After their rewards are issued, the funds they have received rewards on must remain on deposit to receive additional rewards on future deposits, building their savings further for their futures.

 



Dollars & Cents

Dollars and cents,
Don't make any sense to me,
I really don't get it,
I really can't see,
 How one dollar is more
Than two quarters and worse,
How four dimes is the same,
As eight nickles in my purse!

 

Explain to me please,
Just how it can be,
My 12 pennies are less
Than my dime, I have three!

 

My teacher says, "trust her,"
My dad says, "it's true,"
But I'm not sure I believe them,
I don't know, do you?

Source: ABA Teach Children to Save

Nominate Your Strong Child

Later this year the Bank will feature customers and members of our communities who nominate a child who exemplifies strength through acts of kindness, gracious giving of time or talents, or who has overcome health or other obstacles, through its Strong Saver campaign.

To submit your child's story, click here.

 

Strong Saver Rewards Program Details
The Strong Saver Rewards Program is open to all children ages 0 to 18. To qualify a Strong Savers Passbook “ST Passbook” must be opened as an UTMA* or Joint Account - with a minimum deposit of $50.  Existing passbook account holders may convert their existing account number with a minimum new money deposit of $50. This is an interest bearing savings account and the rates are subject to change. Current rates are available at each office and at www.cortland-banks.com. Pre-authorized, automatic, and telephone transfers are restricted to 6 per month.  Withdrawals or transfers made in person, by mail, or ATM are not restricted. Upon opening (or converting to) the ST Passbook, a $10 reward will be issued to the account. Reoccurring monthly Automatic Funds Transfer (AFT) of $5 or more from Cortland Banks checking account(s) to a ST Passbook will result in a one-time $10 reward to the child’s account for each AFT set up at the new accounts desk (NetTeller transfers excluded) 6 consecutive months after the first AFT. Limit one AFT item per primary Customer Identification Number (CIF) to the receiving minor’s CIF. The transferring account can only have one AFT transfer to each  minor’s account. There is no limit on the number of AFT accounts tied to the ST Passbook. Un-enrolling and re-enrolling the AFT account will not result in additional $10 rewards. Additional rewards can be redeemed upon opening a Strong Saver Certificate of Deposit “ST CD” using only ST Passbook funds. The minimum to open this one-year CD is $500. Early withdrawal penalties apply and rewards will not be issued for that certificate. Certificates issued for one-year or more will qualify for this program upon request at CD opening.  CD interest must compound and remain on deposit. Rewards will be issued as a deposit into the child’s ST Certificate during the grace period.** After initial rewards are issued the funds must remain on deposit to receive additional rewards on future deposits. Please refer to Renewal Rewards.***
All rewards count toward the maximum $100 rewards per year per CIF, are subject to review before disbursement. Account setup rewards will be issued within 15 business days; with AFT rewards issued after 6 months; and CD opening/renewal rewards issued at the end of the CD Term. Rewards are considered interest and will be reported on IRS Form 1099-INT. Reward offers may be withdrawn at any time. Reward values and tiers are subject to change.
*UTMA - Ohio Uniform Transfer to Minors Account is an irrevocable gift.
** New CD Balance Tier rewards: A $15 deposit will be issued for a $500-$999 Strong Saver CD funded by the Strong Saver Passbook. A $30 deposit will be issued for a $1000-$1499 Strong Saver CD funded by the Strong Saver Passbook. A $45 deposit will be issued for a $1500-$1999 Strong Saver CD funded by the Strong Saver Passbook. A $60 deposit will be issued for a $2000 or larger Strong Saver funded by the Strong Saver Passbook.
Personal Bankers Please Use Code: STRONG
*** Renewal CD Rewards: If a child deposits $10 or more from their Strong Saver Account on top of their Strong Saver CD renewal balance, they will receive a $10 deposit into the child’s ST Certificate during the grace period when the renewed CD comes to term.
Personal Bankers Please Use Code: STRONGER
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