Save For America partners with 401Kidz to bring savings and investing to the classroom and the family.
SEATTLE and BELLEVUE, Wash., November 22nd, 2000 This holiday season, instead of kids trading Pokemon cards, why not trade shares of Cisco, Microsoft and AT&T? Bellevue-based Save For America®, a national Internet-based save-at-school program has announced a partnership with Seattle-based IFSG, Inc. to offer a long-term stock investing program designed for kids. IFSGs kid-friendly site 401Kidz will provide dollar-based investing in an educational environment for families. Save for America will create awareness among its participating families in 48 states. This capability is made possible through an alliance with Netstock Corporation and its ShareBuilder service. ShareBuilder features over 3000 stocks and 67 index funds to choose from.
Through the 401kidz/ShareBuilder Web site, custodial account holders can set up automatic and recurring investments for a transaction fee of $1 per transaction. Under the Uniform Transfer to Minors Act, a custodian could withdraw these funds tax-deferred for a childs education. Since 1982, parents across the country have enjoyed access to savings accounts, U.S. Savings Bonds and economic literacy tools through the Save For America program, said Stephan Avena, President of Save For America. Now, by partnering with 401Kidz, our participant families can add dollar-based investing to their portfolios. Its amazing to think of regularly purchasing fractions of Microsoft for a buck a trade. Wed like to promote this unique tool to families thinking about their childs future college tuition costs, as a complement to existing instruments like CDs.
About Save For America
Save For America is a national, non-profit coalition whose sole purpose is to help teach children K-8 the value of saving money for the future. Last year, the organization collected $1 million in deposits for kids at over 750 schools with the aid of its parent volunteers, participating schools and sponsor financial institutions.
Students participate weekly and may deposit as little or as much money as they want into their savings accounts. The program is designed to let kids watch their earnings grow with compound interest and to encourage financial literacy. A supplemental U.S. Department of Education approved curriculum is proven to strengthen students achievement in Math and Social Studies.
The 401kidz program was started with the goal of entertaining kids while they learn about money management. The program brings saving and investing know-how into the home, with games, interactive tools, dynamic curriculum and on-line financial management designed for children and parents to learn, save and invest together.
ShareBuilder is an online brokerage service designed for long-term investing. Without any minimum investment amounts or minimums to open an account, customers can begin a program of regular and automatic investing for only $2 per recurring transaction ($1 for custodial accounts). Customers may choose from over 3,000 stocks and index products and select the dollar amount and the frequency (weekly, monthly, etc) they wish to invest. Occasional or real-time purchase and sale transactions are also available.
ShareBuilder Securities is a registered broker-dealer and Member NASD/SIPC.