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Bank creates no-fee youth saver program

(Published January 10, 2000)

City First Bank of DC is offering a new savings program directed at teaching children how banking works.

Children may open a no fee Youth Savers account with a minimum $10 deposit. A free piggy bank is given to all children who participate in the special program.

"It’s a win-win program – we help the children to save money and allow them to become familiar with banking and how it works and that they can trust banks for safe-keeping of their money," said Debbi Hurd Baptist, president and chief executive officer of the bank "We gain future customers…and we help create an educated consumer."

Bank officials said the youth savings program was developed in line with City First’s mission to provide credit, financial and information services for individuals and businesses in D.C. that are under-served by the big regional banks.

City First Bank opened its doors in November 1998 as the first and only community development bank in the District of Columbia. Its office is located north of the U Street corridor at 2400 14th Street NW in Columbia Heights.

Copyright 2000, The Common Denominator