Teen savings accounts help formalize early saving
Although you might be able to start off your child’s savings at home, there comes a point where money may be safest at the credit union. Plus, money invested in a savings account can earn interest. There are a variety of options when it comes to opening teen bank accounts. If your child is old enough, you might want to consider opening a teen savings account. Until then, you can open a joint account or an account in your name that is designated for their money. The most important thing is that you keep your children involved in their progress since savings accounts for teens become less effective when the teen is not involved in the management of their money.
Open a savings account for your child with CRFCU
Help your child learn money management skills at an early age. Open a savings account at Community Resource FCU today to give your teen or tween a place to watch their money grow. To learn more about teen accounts or to explore our savings account options, speak to a qualified representative at 518.783.2211.