New Members
(Leominster, Mass.) On the heels of its highly successful effort to encourage young people to earn and save money through its Lemonade Learning Club, Fidelity Bank today takes money management to the next level with the introduction of the Growth Spending Account for children—the first of its kind from any financial institution in Central Massachusetts.
This comprehensive program, designed for children 18 and under, starts off with a personalized debit card that is linked to a parent or guardian’s Fidelity Bank account. Periodic money transfers, such as a child’s weekly allowance, can be scheduled onto the card. From there the child learns about earning, saving, and spending responsibly.
Through Fidelity Bank’s secure online banking platform or mobile app, parents can monitor the card and their children’s spending, creating teaching moments around money management and proper spending habits. They can also set spending limits and receive transaction notifications, providing a safer alternative to cash.
“As the first and only financial institution in Central Massachusetts to offer this banking option for families, we hope this program will give children the confidence to learn smart saving and spending habits with the care and clarity all of our clients experience through our LifeDesign banking promise,” said Joann Marsili, Chief Growth and Client Experience Officer, Fidelity Bank.
Nine-year-old Reaghan Miklus of Gardner recently chose Fidelity Bank to open her new savings account through the Lemonade Learning Club. It wasn’t by accident, noted her father, John. “I was looking for a local, community bank that was geared towards families and kids, and Fidelity Bank gave us the perfect way to introduce my daughter, Reaghan, to earning and saving,” commented John Micklus. “I chose Fidelity because it is a well-rounded bank that can do that for us."
Parents and guardians who are interested in opening a Growth Spending Account for their children can call 800-581-5363, go online to Fidelity Bank, or visit one of Fidelity Bank’s community banking centers.
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About Fidelity Bank:
Founded in 1888, Fidelity Bank is one of the strongest independent community banks in Central and Eastern Massachusetts. For more than 20 years, Fidelity Bank’s unique LifeDesign approach to banking is a promise to provide the care and clarity needed to make informed decisions with confidence. The Bank offers a range of personal and business banking solutions to clients in 13 full-service banking centers in Leominster, Worcester, Fitchburg, Needham, Gardner, Shirley, Barre, Millbury, Paxton, Princeton, and Winchendon. The Bank has consistently earned a “5 Star” rating from BauerFinancial, Inc., the nation’s leading independent bank rating and research firm. Fidelity Bank was the only bank in Central and Western Massachusetts recognized as one of Forbes “America’s Best Banks in Each State 2022,” in addition to being voted Worcester Telegram & Gazette Best Financial Services in Central Massachusetts and placing on the Boston Globe’s Top Places to Work list six times. As of June 30, 2024, the bank had total assets of approximately $1.5 billion. For more information, visit fidelitybankonline.com.
