HFC Enidaso Account

The Enidaso Account is part of the Youthsave project which is a five (5) year multi-country learning project, aimed at promoting Financial Asset building for the Low-Income Youth.  The YouthSave project supported by The MasterCard Foundation is an initiative of theYouthSave Consortium, coordinated by Save the Children in partnership with the Center for Social Development at Washington University in St. Louis, the New America Foundation, and the Consultative Group to Assist the Poor (CGAP).
The Youthsave project is being implemented in four countries namely, Ghana, Kenya, Columbia and Nepal.
 
After a six (6) month pilot in four (4) of the Bank’s branches, the Enidaso Account has been rolled out in twenty five (25) branches of the Bank from the 11th May 2012.
 
The Enidaso Account targets both In-School and Out-of-School youth who are within the ages of 12 and 18 years and resident in Rural and Urban areas.
 
Product Features
 

  • The product operates as a custodial account which gives the youth the opportunity to own and operate the account with the supervision of a trusted adult
  • Minimum initial deposit of GH¢ 2 is required to operate the account
  • The product earns competitive interest rates
  • Account holders are incentivized with promotional materials such as pens, T-shirts, piggy banks etc. upon account opening
  • Access to HFC Fastcash (ATM) for viewing only at a minimal cost
  • Access to Personalized withdrawal booklets at a minimal cost
 
Benefits
· The account helps the youth to manage their money thereby inculcating savings habit in the youth
· Provides a safe place for the youth to keep their money
· Provides an opportunity to build lump sums of money to meet financial goals
· Access to Periodic Financial Educational programmes for the youth
· Pays competitive interest rates