Yes it is. It's called Gully's Gang and you get a shed load of goodies. Go to the official site.
Be warned though, there is a MASSIVE backlog of applicants so it will take a while before you see the goodies. I think there are about 11,000 in Gully's Gang or something, which is MENTAL.
It's worth it because it is FREE. As such it is sensational value.
Aside from that the club should be congratulated on this because it is something they've got right big-time.
I only got round to joining my 7 year old in April when my next little one entered the world. Since then they've both received all manner of goodies from the club. The highlight being (and why with twin 6 years old it's particularly worth you sorting it out) is the free shirt that the kids get on their 7th birthday.
Despite my girl turning 7 before she joined, a brand new Albion kit was delivered to her, unannounced in the Summer. She was thrilled, obviously.
It's free to sign-up and they will all get a goody bag with loads of stuff plus invites to a Christmas Party and the Open Day at the end of the season.
They will also get a voucher to exchange for free tickets to a game this season (with a couple of exclusions).
reading that, it says that you get a pencil case. I think that's LAST season's offering. This year, my two got a nylon backbag thing, keyring, pencils and some other stuff.
As I said above - it's well worth it and the club are to be congratulated on what they do for the kids.