Capital G: 500th Iron Kids Account Opened

August 29, 2011

A lucky Capital G Bank customer received a surprise bonus of $500 from the bank this week when she became the 500th young person to open an Iron Kids Savings Account. Naomi Lightbourne, 16 years old, of Devonshire parish, was accompanied by her parents when she opened the account on Monday and was told that she was a winner.

“It was a huge surprise,” she said. “I couldn’t say anything at first and neither could my Mother! The prize was just something the bank decided to award for the 500th person to open the account – and it happened to be me!”

Naomi said that she visited Capital G Bank to open an account accompanied by her parents as she is under 18 years old, and was advised to open the Iron Kids Account because of its advantages for young people. “I have decided to keep the additional funds on hold so I can save the Dollars, and not spend them,” she said.

Pictured below: Naomi Lightbourne, 500th Iron Kids Savings Account customer, receives her $500 account bonus from members of Capital G Bank’s Financial Services team: (left) Ashleigh Paynter, Account Opening and (right) Sonia Greaves, Supervisor.

500 IK - Press Release Colour

Michael Veale, Senior Vice President of Retail and Commercial Banking at Capital G, said: “We designed the Iron Kids Account to help young people learn early on how to balance saving with spending and maintain financial fitness from as early as birth through to their 18thbirthday and beyond.”

“We have been delighted with the response to this innovative product, and our team Capital G suggested that we celebrate the opening of the 500th account with a surprise bonus for the new account holder. The bonus was not pre-promoted as a feature of the account.”

Mr. Veale added that Capital G hosts the annual Iron Kids sports triathlon to encourage young people to participate in competitive sports. “This gave us the idea to encourage all Bermuda’s youth to practice the techniques for financial fitness in addition to fitness for sports,” he said.

”Our Financial Services representatives have been visiting schools during the last 6 months and talking to the children about the importance of taking the right steps to becoming financially fit for life.”

The Capital G Iron Kids Account offers 2% interest on accounts with a minimum balance of $100 and maximum balance of $10K BMD and includes access via the debit card or e-banking and parental oversight of transactions. Mr. Veale said, “One of the important benefits of the Iron Kids Account is that the debit card has daily ATM and Point Of Sale limits which can be capped to protect the account holder.”

Further information concerning the Capital G Iron Kids Savings Account and Debit Card can be found online at or by contacting Lawrence Fox, Head of Financial Services at Capital G Bank, on 296-6969.

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