ProCredit Bank says savings start from an early age

TIRANA, Oct. 27 – ProCredit Bank tells people it is worth and advisable they start savings at at an early age. That is the logic behind the latest program that targets children: the ProKid Savings Account from the ProCredit Bank. The image of this initiative is the Savings Squirrel. The squirrel, a careful animal that builds up food reserves for winter has been chosen to symbolize the new financial culture that needs to be internalized by the younger generation. ProCredit Bank has launched an initiative for children under 14, accompanied by their families, to open up bank accounts for their savings. There is neither a minimum amount required nor a transaction fee for the opening of the account. Upon completing this transaction, the children receive not only the savings account booklet but also a ProKid savings box, a bag of school materials and sweets. The child automatically becomes part of the ProKid team which has organized several celebrative activities on Saturday afternoons. Saturdays have been declared open days for children. Beyond this marketing effort, the bank’s latest strategy attracts a rethinking of the concept of savings. The project is coupled with a collaboration of the specialist of ProCredit with the Directory of Education to give free classes in 80 public and private elementary schools about general information concerning banks and savings. Children can learn why it is necessary to start saving in order to realize future plans efficiently. After the lectures children will be given other items that help them to better organize such as timetables, coloring books, leaflets with information about the ProKid accounts and a letter sent by the ProKid Savings Squirrel. So far the attendance has reached 34,000 children. In the last three weeks a total of 1,968 accounts have been opened, with a cumulative value of 83,102 euro.
The bank’s project was launched ahead of October 30, the International Day of Savings. ProCredit bank said, however, children were welcome to come even after the end of the month to open their ProKid accounts.