Young Adult & Youth Accounts

It’s never too early to start teaching your children the basics of money management. Exposure to financial education at an early age can lay the foundation for a more successful financial future.  The Practical Money Skills and Guide has useful information for all age groups.

Ages 18+

Developing money management skills requires ongoing education throughout adulthood.

Recommended Credit Union Services:

  • Savings Account
  • Checking Account with Debit Card
  • Mobile & Online Banking
  • Student Visa Credit Card Account (joint with responsible adult if student)

Ages 13–17

Help your teen put concepts learned into real-life practice and build solid money management skills before entering adulthood. Teaching teens about these financial concepts can help improve their money management skills:

  • Managing money earned through work (like a summer or a part-time job)
  • Making financial goals (short- and long-term)
  • Understanding and learning about the wise use of credit
  • Protecting against identity theft
  • Managing debt
  • Saving toward a goal (like a bike, car or college fund)

Recommended Credit Union Services:

  • Savings Account
  • Checking Account with Debit Card (Joint with responsible parent)
  • Mobile & Online Banking (Parent able to connect to their online/mobile banking in order to monitor account)
  • Authorized user on separately established Student Visa Credit Card account in responsible parent’s name.  Limits can be as low as $250.00.

Ages 7–12

Once children have a basic understanding of the value of money, introduce them to these more complex financial topics:

  • Managing, saving and spending an allowance
  • Tracking purchases
  • Shopping to compare prices
  • Making — and sticking to — a budget
  • Avoiding impulse buying

Recommended Credit Union Services:

  • Savings Account
  • Checking Account
  • ATM Card
  • Mobile & Online Banking (Parent able to connect to their online/mobile banking in order to monitor activity)

Ages 4–6

Young children can learn the basics of money, such as differentiating coins and understanding how to put some funds aside. Here are four basic money management concepts for young children:

  • Knowing the difference in appearance and value between coins and bills
  • Putting money aside to save for later
  • Understanding the value of earning money by completing tasks
  • Comprehending the difference between wants and needs

Recommended Credit Union Services:

  • Savings Account
  • Online Banking (Parent able to connect with their online/mobile banking in order to monitor account)