You’re Never Too Young to Start Saving
Have you ever wished you started saving earlier? Give your child the head start you’ve always wanted. A Youth / Varsity Savings account is a great way to start your child’s personal savings journey. You can teach them how to make deposits and withdrawals, check their balance, transfer funds, and more. Watch their savings grow as they do.
Included with Youth / Varsity Savings:
- No monthly service fee
- Earn dividends on balances $25 or more
- As a joint-owner, both you and your child can make deposits and withdrawals
- Free online transfers between America’s Christian Credit Union accounts
What are you saving for: a computer, car, boat, summer home, down payment? Use this calculator to determine what you need to save on a regular basis to have the funds ready when needed.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not imply that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. This calculator is not an offer of credit nor a guarantee of approval.
When should I open a savings account for my child?
You can open a savings account for your child at any age. Once your child is old enough, they can take ownership of the savings account with your support. Our Youth / Varsity Savings accounts are designed for kids who are 17 years old and younger.
What is a Youth / Varsity Savings account?
A Youth / Varsity Savings account is a deposit account that earns dividends. The Youth Savings account is designed for children, up to age 12, to learn the value of savings. As a joint owner on the account you will have full access to the account. At age 13 the account will convert to a Varsity Savings account with additional features to meet the needs of teenagers and young adults in college.
How do you open a savings account for a child?
Opening a Youth / Varsity Savings account is simple. Visit your nearest branch or open the account through our online application. The parent or guardian should be prepared to sign any legal documents on behalf of the child.
You will need to provide the following documents:
- Copy of your/Joint Owner’s driver’s license, state ID, military ID or passport
- Your/Joint Owner’s Social Security number
- Youth applicant’s Social Security Card
- Parent or legal guardian signature
Is there a monthly fee for a Youth / Varsity Savings account?
No! Our Youth / Varsity Savings account does not have a monthly service fee. However, there is a $3.00 paper statement fee per month, which can be waived when you sign up for eStatements.
Is there a minimum deposit required to open a Youth / Varsity Savings account?
No, there is no minimum deposit required to account opening. Whether you are coming to us an experienced saver or just starting out this account is the perfect way to earn dividends while keeping your money safe and secure.
Is there a minimum balance requirement?
No, there is no minimum balance required for this account. However, there is a $32.50 overdraft fee if your account balance falls below your attempted transaction.
Do I need to be an America’s Christian Credit Union member to open a Youth / Varsity Savings account?
Any child, grandchild, sister, brother, niece, nephew or cousin (natural, legally adopted or step) 17 years of age and under of an eligible America’s Christian Credit Union member can open a Youth / Varsity Savings, as long as they have a Joint Owner. View America’s Christian Credit Union Membership Eligibility.
How can I access my child’s accounts?
Our mobile app and online banking services make it easy to access your account anytime and anywhere. Transfer funds, send and receive money, pay bills or deposit checks right from your phone. And, of course, we are always happy to help you at any branch. We have thousands of shared-branching locations nationwide and network with more than 5,000 CO-OP ATMs2. View all locations here.
Can I deposit a check with my phone?
Yes, you can deposit a check using Remote Deposit in the America’s Christian Credit Union mobile app to deposit a check in seconds. It is available in the Google Play Market and Apple App Store.
1 – APY = Annual Percentage Yield.
2 – Via Co-Op Network. Visit Co-opfs.org for a complete list of surcharge-free ATMs and shared branch locations.