Your savings insured to
at least $100,000 by the
National Credit Union Administration, a U.S. Government Agency.
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Section contents:
 A
great way to develop a savings habit early on is to move a child's savings
to a special Youth account. Just as with any other Credit Union account the
savings are insured and they have the added benefit of paying dividends on
as little as $5 on deposit. It allows your young one to have a dividend-bearing savings account and
start receiving the benefits and value
of Credit Union membership at an early age. |
 Eligibility |
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Any child or teenager under the age of
18 within the eligibility requirements able
to sign his or her name and with a social security number. |
Summary |
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A Youth account offers a young person
a variety of benefits:
- Federally insured up to $100,000 by the NCUA
- Pays dividends
- Provide quarterly statement
- Allows unlimited free over-the-counter withdrawals per month
per suffix when total shares are $1,000 or more.(When this minimum
requirement is not met, 1 free over-the-counter withdrawal per month per
suffix.) See Schedule of Fees.
- A low $5 minimum balance to earn dividends
- No maintenance fee
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| Minimum Requirements |
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The following minimum requirements apply to youth accounts:
- Minimum opening deposit - $8 ($5 minimum deposit plus
a one-time $3 membership fee)
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| Frequently Asked Questions |
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Q: I don't have a lot
of money. What good is a savings account to me?
A: It doesn't take much to get started and once you do, you'll want to see
your savings grow. You can open your very own Youth account with as little as $8.
Then you can check your balance and interest income whenever you want to by
visiting the_Max!, our eBranch navigator guy on the Internet.
Q: What if I can't get to the
Credit Union?
A: Mom and Dad can deposit the money for you and then you can visit
the_Max! on the Internet to make sure they did it right.
Q: Do I have to pay any fees
to have a Youth account?
A: After you pay the one-time $3 membership fee to join the Credit Union,
there are no other charges as long as you are under 18 years old and keep at
least $5 in your account.
Q: How can I keep track of the
money I have on deposit?
A: With a Youth account, you either receive in person or are mailed a receipt
whenever you deposit or withdraw money from your account. In addition, you
also receive a statement, at least quarterly, summarizing activity on your
account. The best way, though, is to check your account as often as
you want to by visiting the_Max!, the Credit Union's Internet branch. |