Opening a Youth Savers Account
Youths below the age of 16 years are not considered members of the credit union. However, they can still save and reap benefits from the credit union by simply opening a Youth Savers account! When they attain the eligibility age, their account will transition to an adult account and they will become members of the credit union.
- A Youth Savers Account is a smart way to introduce a child to the importance of smart money management. This account is targeted at young savers from 1 day old up to 16 years of age. A youth saver can open an account starting with as low as $120.
- Children can save at some credit unions by opening a youth savers account. The parent or guardian simply needs to bring the child’s birth certificate to the Credit Union and the required amount to open the account. Please note some credit unions may require that the child’s parent or guardian be a current member.