Youth Program
Set your children up for financial success
Savings
Savings Account
When it comes to opening an account for your children, you need to first decide if you want the child to have access to the money. If you are putting away money for their future and you do not want them to have access to it until they are 18 or 21, you may consider a California Uniform Transfer to Minor Account (UTMA) - this account establishes the minor as the beneficiary of the account with an adult as the Custodian. This means the child does not have access to the funds until they reach age 18 or 21, whichever is designated at account opening. If the child is learning how to manage their own money, consider the accounts below that will be set up with them as the primary owner and an adult as the joint owner.
The savings account establishes the membership and is a great first tool in learning to save money.
- $25 minimum balance requirement
- A balance of $200 or more will earn dividends
- Free debit card to members age 14 and older
Click here for helpful financial calculators that assist you with determining how much you can and need to save for a college fund or other financial goals.
Rates
| Savings Accounts Rates as of 7-1-18 | ||
|---|---|---|
| Type | Dividend Rate | APY1 |
| Savings | 0.05% | 0.05% |
| Holiday Club | 0.05% | 0.05% |
| Youth Savings | 0.05% | 0.05% |
1 Annual Percentage Yield. Fees may reduce earnings.
Open A Savings Account
$25 to open
Establishes SafeAmerica membership
- Earn dividends
- No monthly service fee
- Online banking
- Mobile banking
- Remote mobile deposit & payments
Certificates
Certificate Account Investing
This high yielding certificate is available to young people age 23 years old or under. Opening a Youth CD is the perfect way to help them get a big start on their financial future.
- Annual Percentage Yield is 9.99%
- Minimum deposit of $1,000 with a maximum deposit of $1,000
- Maximum term of 12 months
- Upon maturity, the certificate may roll over at a new CD at the current rate, or roll over into a Share Savings Account, or be withdrawn.
- Share account required. Your child must have their own SafeAmerica Credit Union share account with a $25 minimum daily balance. Only one Youth Certificate Account per member.
Youth Checking
Youth Checking
SafeAmerica's Student Checking Account is ideal for the young member (ages 14 to 23 years old) opening their first checking account, looking to begin their college career, or ready to enter the workforce.
- No minimum balance
- No monthly fee
- Free Mobile Banking
- Free Debit Card1
- Free Online Banking & Bill Pay
- One Complimentary NSF Fee Reversal2
- Account access at over 6700 shared branch locations
- 30,000 CO-OP Network Surcharge-free ATMs nationwide
1Free ATM Transactions on all SafeAmerica ATMs and up to 4 free foreign ATM machines. ATM fees charged by third parties are not the responsibility of SafeAmerica Credit Union.
2One Complimentary Non-Sufficient Funds Fee Reversal per year upon request.
Open A Youth Checking Account
Set up in Online Banking
- No minimum balance
- No monthly service fee
- Online banking
- Mobile banking
- Remote mobile deposit
- Free debit card
Credit Building
Credit Building
Ideal for a young adult taking their first steps to building a credit history.
- Platinum VISA® Credit Card (Ages 14 to 17 Years)1
- Platinum VISA® Credit Card (Ages 18 to 23 Years)2
- Rate Discount of .50% on first auto loan
1 Credit Card limit up to $300 on approved credit with a qualified adult cosigner.
2 Credit Card limit up to $500 on approved credit. Member may qualify for a higher limit with a qualified adult cosigner.
Open A Youth Credit Card
Set up in Online Banking
- No monthly service fee
- Online banking
- Mobile banking
