BELLEVUE, Neb. (4/4/12)--SAC FCU has introduced the "Baby Bundle Savings Plan" to encourage saving for the future by making it possible for parents, friends and family members to deposit funds in an infant's certificate of deposit throughout the certificate's term.
"Baby Bundle Savings Plan" accounts can be opened during the child's first year and then may remain open and grow throughout the child's lifetime, said the Bellevue, Neb.-based credit union.
When the account is opened, each participating infant receives a Baby Bundle "onesie," pacifier and piggy bank. When Baby Bundle accounts reach maturity, the $564 million asset credit union contributes $25 to every one-year term certificate and $50 to every two-year term certificate.
A credit union release stated the product is designed to help parents prepare for each child's future dreams and is part of a range of accounts designed to help people meet challenges at any life stage.
"Baby Bundle rewards parents who take advantage of the benefits of saving right from the start," SAC FCU President/CEO Gail DeBoer said.