Desjardins has announced an increase in its youth dividend program aimed at children aged 5 to 11. The reward for good savings habits is now set at $30, up from the previous amount of $10.
Details of the Increased Dividend
The new program will allow children who make at least seven deposits in their School Fund account during the calendar year to receive a dividend of $15. This is an increase from the current $10 reward.
Additionally, for the first time, children holding another account—like a Dream Module or a savings account—are eligible for an extra $15. This brings the total possible reward to $30.
Program Benefits and Eligibility
- Children aged 5 to 11 can benefit from the program.
- Eligibility requires a minimum of seven deposits in the School Fund account.
- Additional savings products also qualify for increased rewards.
The recent enhancements to the program align with similar benefits already offered to adolescents aged 12 to 17. However, it is essential to note that the next dividend payout will occur in June, reflecting the changes starting from the year 2025.
Conclusion
This initiative by Desjardins aims to encourage a culture of saving among young Canadians. By increasing the dividend for children, the organization reinforces its commitment to fostering financial literacy from an early age.
