Sara Parker, from Utah Central Credit Union explains about a new program, Baby Wealth, which helps parents save for their kids.
Wise parents, grandparents and friends who want to build a better financial future for those cuddly newborns can tap into an exciting program called Baby Wealth.
It’s Utah Central Credit Union’s worry-free answer to a worry-free future for you and your little one.
Utah Central offers an interest bearing CD account or an interest bearing Money Market account. Footsteps Deposit slips make it easy for parents or loved ones to make deposits — especially during birthdays or holidays.
If parents of newborns put just $1 a day into one of these accounts at 4% interest, when that child was 10 they would have earned $4,382. Or at age 18, they would see their deposits grow to $9,360.58.
Considering that the average cost for a college education is now about $92,000, now is a good time to think about a Baby Wealth account for your baby.
To learn more about Baby Wealth, visit any Utah Central Credit Union branch. You can find one near you by visiting www.utahcentral.com.