What is the Peoples Little Perks program?
Your child's financial journey starts here! Peoples Little Perks is a children's savings account program offered by Peoples Bank that combines real interest earnings with a fun, reward-based stamp card system designed to make saving exciting for young children. When a child deposits $10 or more, they earn a stamp on their stamp card. Fill a card and redeem it for prizes. It is open to children age 12 and younger.
Does your child have their very own child savings account yet? Introducing them to the concept of saving money at a young age is a valuable life lesson. With Peoples Little Perks, we make saving not just a responsibility, but an exciting journey! Each member of Peoples Little Perks will not only learn the importance of saving money but also have the thrill of choosing a PERK Prize as a reward for their efforts.
Kickstart your child's financial journey today! It's simple and straightforward.
About Peoples Little Perks child savings account
When you join Peoples Little Perks, your child will receive a welcome gift and a stamp card to start their savings adventure. Opening an account requires only $25! For each deposit of $10.00 or more, your child will earn a stamp. If the deposit is made in the month of the child's birthday, they earn double stamps! Plus, they'll receive a birthday coupon from a local restaurant to celebrate their special day.
Once the stamp card is full, your child can choose a little PERK Prize or save multiple stamp cards to pick out a larger PERK Prize!
Benefits of a child savings account
A child savings account like Peoples Little Perks helps your child develop good money habits from a young age. It provides a secure place to store the money gifts your child receives on birthdays and holidays. The promise of earning a PERK Prize motivates them to save. They can see the interest earned on their deposits, understanding how their savings grow over time. These kids savings in can be used for significant future expenses, such as college fees or buying a first house.
Open a Peoples Little Perks child savings account today!
As your community bank, Peoples Bank is committed to promoting financial literacy among local youth. We're here to help your child learn how to save and manage money wisely. Open a Peoples Little Perks child savings account at one of our 10 locations in Northwest Iowa, Southwest Minnesota, and Southeast South Dakota.
Open to all children 12 years and younger. Child must be accompanied by an adult 18+ to open account. Applies to a new or existing Peoples Bank Savings Account. APY (Annual Percentage Yield) = 0.30%. Rates effective 2/9/26 and are subject to change without notice. Only $25 required to open account. Minimum $100 daily ledger balance is waived for this age group. Members must make deposits in person.
Birthday coupon good for a local restaurant coupon for one deposit made during the month of the child’s birthday; restaurant coupons vary by bank location.
Maximum of one stamp on stamp card per week per account. PERK Prize will be given to child when child hands in one full stamp card for the prize or when child hands in two full stamp cards for larger PERK Prize. Full stamp cards must be redeemed before the child turns 13 years of age.
Frequently Asked Questions (FAQs)
Who is eligible to open a Peoples Little Perks account?
The Peoples Little Perks program is open to any child aged 12 years or younger. An adult aged 18 or older must accompany the child to open the account. The account can be structured as a new Peoples Bank savings account or linked to an existing one. A $25 minimum deposit is required to open. Because this is a savings account, it functions as a standard interest-bearing account subject to Peoples Bank's standard savings account terms for minors.
How does the stamp earning system work in Peoples Little Perks?
Each time a child makes a deposit of $10.00 or more into their Peoples Little Perks account, they earn one stamp on their stamp card. Only one stamp is awarded per account per week, regardless of how many deposits are made. Once a stamp card is filled, it can be redeemed for prizes. Deposits must be made in person at a Peoples Bank location. This intentional in-person requirement helps reinforce the savings habit and makes each deposit a meaningful visit for the child.
What prizes can be redeemed with Peoples Little Perks stamp cards?
Peoples Little Perks stamp cards can be redeemed in two ways: one full stamp card can be exchanged for a small prize, or two full stamp cards can be exchanged for a larger prize. Prizes are available at Peoples Bank locations. All stamp cards must be redeemed before the child turns 13 years of age, so it is important to track your child's stamp card progress and redeem them in time. The tiered redemption system gives children a goal to work toward and encourages regular saving habits.
Does the Peoples Little Perks account earn interest?
Yes. The Peoples Little Perks account earns interest at a 0.30% Annual Percentage Yield (APY), with rates effective as of 2/9/26. This means a child's savings grows automatically over time, in addition to any prizes earned through the stamp card program. Earning real interest teaches children a foundational concept in personal finance: money that is saved and not spent continues to grow. Contact a Peoples Bank banker for the most current rate information.
Is there a birthday bonus in the Peoples Little Perks program?
Yes! Peoples Little Perks has a special birthday bonus: if a child makes a deposit of $10 or more during their birthday month, they earn double stamps on that deposit. In addition to the double stamps, the child also receives a birthday restaurant coupon for making a deposit during their birthday month.
Does my child need to make deposits in person for the Peoples Little Perks program?
Yes. Deposits for the Peoples Little Perks program must be made in person at a Peoples Bank location. This in-person requirement is intentional because it creates a tangible, memorable savings experience for the child, allowing them to receive their stamp directly, and building a relationship with their local bank and community. Peoples Bank has ten bank locations across Northwest Iowa, Southwest Minnesota, and Southeast South Dakota, making it accessible for families in the region.
When do unredeemed Peoples Little Perks stamp cards expire?
All Peoples Little Perks stamp cards must be redeemed before the child turns 13 years of age. After the child's 13th birthday, the account no longer qualifies as a Peoples Little Perks account and any unredeemed stamp cards cannot be exchanged for prizes. Parents and guardians should track their child's stamp cards carefully and plan to redeem them ahead of the child's 13th birthday to avoid missing out on earned rewards. At age 13, the account transitions to a standard Peoples Bank savings account, or your child could open a Peoples Bank Checking Account.
How much does it cost to open a Peoples Little Perks account?
A Peoples Little Perks account requires a $25 minimum opening deposit, the same minimum as Peoples Bank's standard savings account. There is no minimum balance requirement to maintain after opening (unlike the standard savings account, which requires $100 to avoid the $5 monthly fee). This makes it an accessible entry point for families who want to start their child's saving journey without a large upfront commitment. The account earns 0.30% APY on deposited funds.
How does the Peoples Little Perks program help children learn about money?
The Peoples Little Perks program is designed to make saving tangible and rewarding for young children. By requiring in-person deposits, the program creates a real-world banking habit early in life. The stamp card system introduces delayed gratification — a core financial skill — by rewarding consistent saving over time rather than instant spending. Earning real interest (0.30% APY) introduces the concept of money growing on its own. Together, these elements lay a strong foundation for financial literacy before children enter their teens.
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