Cubs, banking requirement

I don't remember which level, but when our son was a Cub, one of the
requirements was to open a savings account. Is that requirement still
around?

If so, how is it being handled?

Local banks had, when he did that requirement, a $100 minimum deposit;
this has since been raised, I understand, to $500. Either amount is
surely above what the average Cub Scout could be expected to earn in a
Cub year.

Are parents providing the excess so the boys can meet the requirement, is
the requirement being waived, or is this just a local problem with the banks?

Thanks!

Cheryl

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