Youth Savings
Good financial habits start with a youth savings account.
Opening a youth saving account with Community Resource Federal Credit Union not only contributes to a child’s financial future but teaches them important planning, budgeting, and money management skills – giving them vital building blocks needed throughout their lives. Benefits include:
- Only $5 to open the account
- Free membership
- Free educational workshops
- Good Grades Rewards Program
Parents can link their kid’s savings accounts to their primary account, allowing them to monitor all accounts using one online or mobile banking login.
Open a Youth Savings Account Today
Youth Savings Good Grades Rewards Program
Everyone likes to earn money. Why not do so by doing well in school? CRFCU rewards its youth savers for good performances in school up to 4 times a year! If your student has a report card full of good grades, we’ll put $10 into their account. It’s that easy.
Program Guidelines
- We consider a good grade to be anything above a D
- Submit report cards at the end of each quarter
- Due by end of December
- Due by end of March
- Due by end of May
- Due by end of July
- To earn the reward, email their report card to [email protected]
- Student must have a CRFCU Savings Account to receive deposited funds
- Homeschool children may supply an equivalent to a school report card
The Path to Financial Independence
Today’s teens and young adults need to be financially savvy. CRFCU Teen Banking is here to help teens, ages 13 – 17, to learn about money management and financial planning. Many teens have part-time jobs and are beginning to understand the value of money.
This is a good time to learn how to manage a savings account, checking account, or debit card and to plan ahead for major expenses, such as a first car loan or college education.
Youth Certificates
Money from birthdays, First Communion, gifts from grandparents? With a lower opening deposit and the ability to add to it, the youth certificate is a great way to teach kids about long-term financial goals. Open a Youth Certificate for as little as $100.
Power of compound interest
Teaching kids the miracle of compound interest is potentially one of the most valuable lessons you can teach them. Why not use a youth savings account to teach them something beneficial so that your kids bring this habit all the way to adulthood? Help them select an account that earns dividends, like a high-interest savings or checking account.