Youth Accounts

Youth Accounts

At Campbell Employees Federal Credit Union, we understand that it’s not easy to teach your kids about money, no matter what their age.  That’s why we’ve created 3 special programs to help.  Our objective is to help young members build a sound financial future.  Youth accounts offer unique benefits that increase with the member’s age, so that they can safely learn about credit and money management.  Along the way, kids, teens and young adults will have fun and learn things that they’ll actually be able to use.

You can open an account for your child at any age; it’s never too young to start good financial habits. If your child already has a Savings account with the credit union, just give us a call and we’ll switch it over to one of the options available.

Youth Account (Ages 0-12)

Our Youth Accounts are a great opportunity for kids up to age 12 to learn about money and finances the fun way! Youth Accounts will enjoy these benefits:

  • A free gift upon account opening
  • Annual Birthday card
  • A monthly parent email newsletter
  • A quarterly newsletter full of fun financial information

At age 13, Youth Account are transferred to the Teen Account. A letter will be sent out informing the child and parent of the transfer.

Teen Account (Ages 13-17)

Teen Accounts will help teens manage their finances and provide them with a solid foundation for success.  We’ll help prepare kids for life by building good saving and spending habits.

Teen Account holders will enjoy these benefits:

  • A free gift upon account opening
  • Birthday card
  • A monthly parent email newsletter
  • A quarterly newsletter full of fun helpful financial information
  • Free Online Banking and Mobile Banking

At age 18, Teen Accounts are transferred to the Young Adult Account. A letter will be sent out informing the child and parent of the transfer.

Young Adult Account (Ages 18-22)

Young Adult Accounts will help teens and young adults get started down the right path of financial responsibility and independence by introducing them to their first checking account and Debit Card. It’s all about helping teens understand the all-important world of personal finance.

Young Adults will enjoy these benefits:

  • A free gift upon account opening
  • Birthday card
  • A monthly email newsletter full of helpful financial information
  • Free Online Banking & BillPayer
  • Free Mobile Banking and Deposit
  • Free Checking with a Free Visa Debit Card at age 16 or older*
  • Student MasterCard at age 18 or older**

At age 23, a Young Adult account is transferred to a Regular Savings Account. A letter will be sent out informing the young adult of the transfer.

*Joint Owner notice: When a minor between ages 16-18 has a Debit or ATM card, the adult joint owner is responsible for the minor’s actions regarding the uses of the card and indemnifies and holds harmless Campbell EFCU from any such use.  Parent or guardian must be a qualifying co-applicant/co-signer if under 18.

**Federal law prohibits the credit union from extending credit cards to individuals under age 21, unless the individual can provide proof of the ability to repay or if the application includes a co-applicant who will take responsibility for repayment of the debt.  Loan is subject to approval and creditworthiness.

Additional Resources

  • Jump Start is a national coalition of organization dedicated to improving the financial literacy of pre-kindergarten through college-age youth by providing advocacy, research, standards and educational resources. They strive to prepare youth for life-long successful financial decision-making for their future!
  • National Endowment for Financial Education (NEFE) is a non-profit national foundation dedicated to improving financial literacy and well-being. Visit their Web site for helpful and practical financial information.
  • The United States Mint Web site is geared toward educators and students, and provides information about money and coins as well as interactive games, cartoons and much more.