With a view to encouragingthe emergence of a generation of savers, thereby laying a strong foundation for economic prosperity in the nation, Oceanic Bank has declared May, 2011 as its Children Banking Month.This is an annual event during which exciting programmes are organised by the bank in honour of children, even as the global Childrens Day comes up on May 27, 2011. At Oceanic Bank, celebration and fanfare will start from May 3, 2011 and run throughout the month, and is aimed at inculcating the saving culture in children as well as introducing them into the financial world of banking.The Children Banking Month provides an opportunity for the bank to focus on children by emphasising the values they represent, their needs and expectations, and the immense worth they add to the economy of the country as present drivers for economic indices in the textile (clothing), agriculture (food and beverages), education (schools), healthcare (medicines), engineering (electronic gadgets) and even banking (savings) sectors, as well as future leaders of the nation.During the period of the event, all children will be given the VIP treatment across the Banks branch network. All children whose accounts are opened during the month of May will be rewarded with exciting gifts which will include branded Apple iPods, wrist bands, face caps, data cards, pens, t-shirts, water bottles, notebooks, etc. There will also be plenty of sweets, candy and other treats for all the children who visit Oceanic banking halls during this period.Oceanic Banks service to children is delivered through the features-rich savings product known as MyFirst Account. MyFirst Account is a unique product that encourages parents to set aside a portion of their income as savings to guarantee the future interests of their children and wards, and also set such children on the path of becoming young millionaires. The account is operated and managed by the parents or guardian on behalf of their children until the they attain the ages of 18, at which point the accounts are migrated to one that the children can operate on their own.Since its launch in May 2009, MyFirst Account has continued to receive wide acclaim from industry watchers for its unique role in encouraging parents and guardians to secure financial freedom for their children by teaching them how to save and spend wisely; so far the product has recorded over 500 per cent in growth from June 2009.A statement from the Bank said the growth was indicative of a strong patronage and wide acceptance of the product across the nation.According to the Banks Managing Director/CEO, John Aboh, At Oceanic Bank, we not only encourage parents to open MyFirst Account for their children, we also teach children about managing money and planning for their future. The product also comes with a unique life policy feature and it is a known fact that procuring a life policy is a major step a parent or guardian can take to secure the future of a child and the family.
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