Camden National Bank Launches Free Youth Banking Platform to Teach the Value of Money

Rhea-AI Summary

Camden National Bank announced on December 15, 2025 the launch of Family Wallet, a free youth banking platform for ages 5–17 that combines a parent-controlled debit card and a dedicated mobile app to teach saving, goal-setting, earning, and safe spending.

The platform is delivered via a partnership with Rego Payment Architectures (OTCQB: RPMT) and emphasizes child data privacy, stating compliance that exceeds COPPA requirements. Camden National reported it has $7.0 billion in assets and positions the product as part of its 150th anniversary commitment to financial literacy.

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Family Wallet provides youth with saving, goal setting, and spending capabilities under one free app

CAMDEN, Maine, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Camden National Bank today announced the launch of Family Wallet, a free youth banking platform designed to help families instill healthy financial habits in children from an early age. This secure, parent-controlled experience allows kids to earn, save, and safely spend, all under Camden National Bank’s trusted brand and integrated systems.

As part of its 150th anniversary celebration, Camden National Bank is reaffirming its commitment to the next generation. For decades, the bank has invested in programs that support youth education and financial literacy. Family Wallet builds on that legacy by giving families the tools to prepare children for a lifetime of financial confidence.

Children ages 5 to 17 are estimated to have over $360 billion in spending power, much of which is shifting toward debit cards and mobile apps. Family Wallet meets this trend head-on, combining the novelty of a secure, parent-controlled debit card with the convenience of a dedicated mobile app that empowers children to earn, save, set goals, and see their spending.

“The financial well-being of our customers’ children is a key priority for us,” said Simon Griffiths, President and CEO at Camden National Bank. “By launching this new platform, we are empowering families to introduce healthy financial habits early in life, while giving parents confidence that their children are learning and transacting in a safe, controlled environment. This initiative reflects our commitment to innovation and education—helping the next generation build financial literacy, independence, and security from the very start.”

Camden National Bank partnered with Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT) to deliver a turnkey solution that prioritizes child data privacy and exceeds the requirements of the Children’s Online Privacy Protection Act (COPPA).

“This launch underscores the shared commitment of REGO and Camden National Bank to children’s financial literacy,” said Peter S. Pelullo, Chief Executive Officer at REGO. “Families across Northern New England can now access a digital-first youth banking experience, delivered by the award-winning community bank they already know and trust.”

Since its founding in 1875, Camden National Bank has served millions of individuals, families, and businesses across Northern New England. With over $7 billion in assets and a team of more than 700 employees, Camden National Bank remains dedicated to building a stronger financial future for its communities—starting with the youngest members.

About Camden National Bank

Camden National Corporation (NASDAQ: CAC) is Northern New England's largest publicly traded bank holding company, with $7.0 billion in assets. Founded in 1875, Camden National Bank has 72 banking centers in Maine and New Hampshire, is a full-service community bank offering the latest digital banking, complemented by award-winning, personalized service. Additional information is available at CamdenNational.bank. Member FDIC. Equal Housing Lender.

Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.

About REGO
Rego Payment Architectures, Inc. ("REGO") is a family digital wallet platform that empowers financial institutions to let their customer's children spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO is the only family digital wallet platform to be certified COPPA (Children's Online Privacy Protection Act) and third-party GDPR (General Data Privacy Regulation) compliant. REGO has also been awarded multiple patents related to the safety of parent and child data, including age verification of users. Built from the ground-up to protect the privacy of children's data, REGO offers financial literacy tools for parents to teach their kids to be smarter shoppers, savers, givers and investors. Financial institutions of all sizes can offer a family digital wallet product through REGO as a white-labeled stand-alone application or fully integrated into their existing app.

Contact:

Pawan Murthy
pawan@regopayments.com

FAQ

What is Camden National Bank's Family Wallet launched on December 15, 2025?

Family Wallet is a free, parent-controlled youth banking app and debit card for ages 5–17 that supports earning, saving, goal-setting, and safe spending.

How is Rego (OTCQB: RPMT) involved in the Camden National Family Wallet?

Rego Payment Architectures (OTCQB: RPMT) provided the turnkey digital wallet platform and integration to deliver the Family Wallet experience.

Does Family Wallet meet children’s privacy rules like COPPA?

Yes; Camden National says the platform prioritizes child data privacy and exceeds COPPA requirements.

Who can use Camden National's Family Wallet and when was it announced?

Children aged 5–17 can use the free Family Wallet; it was announced on December 15, 2025.

What scale does Camden National report while launching Family Wallet?

Camden National cites having $7.0 billion in assets and over 72 banking centers across Maine and New Hampshire.

How might Family Wallet affect parents wanting to teach financial literacy?

The product provides parent controls, goal-setting features, and a debit card intended to help parents teach saving and safe spending to children.

Is the Camden National Family Wallet a paid service for customers?

The announcement describes Family Wallet as a free youth banking platform.