Keeping your spare change in a peanut butter jar may be OK when you're a kid, but when you hit those teenage years it's time to find a better place for your funds.
Teen checking accounts help you take a step toward financial independence by providing low-cost, flexible options for getting and managing a checking account. Teens may have different reasons for opening their first account: increased earnings from a part-time job, the desire to have access to funds without carrying large amounts of cash, or even the need for an ATM (automated teller machine) or debit card for spending flexibility.
You can open a checking account (credit unions call them share draft accounts) as early as age 12 with a joint parent owner.
Once you know what an account will cost and what features are available, talk with your parents. Although they'll need to be listed as a joint owner until you turn 18, the account is still yours to manage. That means that you must be ready to keep track of your deposits and expenditures.
To make it easy, we also offer free Home Banking so you can log in from anywhere with internet access to check your balance, transfer funds, and view your transaction activity.
Sign for direct deposit with your employer and on payday your funds will be sitting in your account waiting for you - no need to stand in line at the credit union!
You can also apply for a free VISA Check Card. It works just like a credit card but you don't accumulate debt - the funds come right out of your checking account. It's a safe and convenient alternative to carrying cash and useful when you travel where your personal check may not be accepted.
If you're ready for a checking account, contact your local branch to discuss your options - we'll be happy to help!