Controlled everyday spending for family members ages 12–17
Introduce a family member ages 12–17 to money management with a child/minor spending account that you manage together. Limited debit card and ATM access provides your young family member with the opportunity to start making purchases. For peace of mind, you can view their account activity at any time in Digital Banking.
Your young family member’s daily spending and withdrawals are capped.
Manage the account and view account activity from anywhere, 24 hours a day.
Pay no monthly fees, no excessive transaction fees, and no minimum balance fees.
Your young family member can receive a debit card with a purchase limit of $140 per day and an ATM withdrawal limit of $60.00 per day.
You and your young family member can each sign in to Digital Banking from anywhere in the world. Set up automatic deposits, replace a damaged debit card, and more.
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Included with a Youth checking account |
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Age range |
Included with a Youth checking account 12–17 |
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Primary account holder |
Included with a Youth checking account The minor |
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Managed by |
Included with a Youth checking account The minor and the UNFCU member who opened the account |
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Access to Digital Banking |
Included with a Youth checking account The minor and the UNFCU member who opened the account |
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Maintenance fee |
Included with a Youth checking account $0.00 |
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Standard rate |
Included with a Youth checking account 0.05% APY1 |
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Premium rate |
Included with a Youth checking account 1.00% APY1 |
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Minimum balance requirement |
Included with a Youth checking account $0.00 |
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Link a debit card |
Included with a Youth checking account With the following daily limits:
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Visa® foreign transaction fee |
Included with a Youth checking account 1.00% for non-USD cash withdrawals and USD cash withdrawals outside the US |
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Mobile & email account alerts (setup required) |
Included with a Youth checking account
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Arrange for payroll deposit |
Included with a Youth checking account
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Included with a Youth checking account Up to $250,000 per account holder |
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Overdraft protection |
Included with a Youth checking account |
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Included with a Youth checking account
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Give the gift of good money habits.
UNFCU members who are eligible for membership based on their employment or affiliation with a membership association may open a child/minor account. UNFCU members who joined as family members are not permitted to open these accounts.
When a minor becomes an adult, they can become a member of UNFCU:
When a minor reaches the required age, we will send them instructions on how to become a member of UNFCU. They can also close their account(s) if they prefer. The former minor will have 60 days to complete their membership application or close their child/minor account(s). After 60 days, their access to the account(s) will be frozen. We will remove this freeze as soon as they complete their membership application or close their child/minor account(s).
With a Youth account, the minor can access the money in the account. For security, anyone with access to the account needs to present a valid form of identification.
All US financial institutions, including credit unions, must comply with the reporting rules of the US Internal Revenue Service (IRS). To report the correct information, we need to know if a member and account holder pays taxes in the US. Form W-8BEN should be completed by members and account holders who are not US taxpayers. Form W-9 is for US taxpayers.
For Custodial accounts, the custodian needs to sign the applicable tax forms. For Youth accounts, either the minor or the adult joint account holder can sign.
Save for your young family member’s future in an insured account that earns dividends.
