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Youth Accounts

It’s never too early to teach your kids about saving money

When you build good financial habits young, your kids are more likely to carry those habits with them into adulthood.

So when they’re ready to start managing some of their own money, whether due to successful savings or having an income, they can start a savings account or open a checking account with a debit card.

Rest assured parents, an adult must always be connected to a youth account, meaning you can still monitor their activity and ensure they’re saving and spending funds wisely.



Youth savings accounts

Teach your kids the power of saving with a youth savings account. They’re available for kids as young as infants and can become their lifetime savings account, thanks to you establishing their habits early.

  • Available for kids 0-17 years old
  • Moonjar available to help kids learn how to budget for spending, saving, and giving
  • Interest-bearing account
  • Annual youth activity reimbursement up to $40
  • Must be opened by parent or guardian. Check out our options for other ways adults can help kids save.
  • Available to open online if parent/guardian is an existing Verity member

Youth checking accounts

When your teen is ready for some financial independence, a youth checking account is great addition to their savings account. Your child gets the freedom of a debit card, and you get the security of knowing you’re attached to the account and can monitor their spending.  

  • Available for teens 14-17
  • Debit cards help your teen learn how to spend wisely
  • With a parent connected to the account, it’s easy to transfer funds to your teen
  • Overdraft is not available, helping your teen manage their spending
  • Higher interest rates than standard savings accounts
  • Available to open online if parent/guardian is an existing Verity member

You have a choice in where you bank

Verity is a local credit union that believes in socially responsible banking. We’re part of a movement working to create stronger, healthier, more sustainable communities because we believe a financial institution can do good. When you bank with Verity, your money helps make positive impacts in our vibrant communities. Rather than investing in Wall Street, about 90% of our deposits are used to invest in the local economy and members through loans, whether it’s a loan for an eco-friendly car, or adding a tiny home to your backyard. 

Why Verity?
  • Activity Reimbursement

    Helping your kid access enrichment activities, like music lessons, sports, and summer camps, can get expensive. So we want to help support you and your child by relieving some of the financial burden.

    Kids with youth accounts are eligible for an annual activity reimbursement. The amount varies depending on the age of the child:

    • $20 for 0-10
    • $30 for 11-13
    • $40 for 14-17

    Qualifying activities include: sports, art classes, summer camps, music classes, swim lessons, extracurricular school trips, and many more.

    Just provide proof of paying for the activity, and we’ll deposit reimbursement into the youth account.

    *Verification of qualifying payment is required; please bring it to any Verity Credit Union branch for reimbursement into your youth savings account. Activity reimbursement caps limited to each calendar year.

  • Other accounts to help kids save

    While traditional youth accounts can only be opened by a child's parent or legal guardian, Verity offers other accounts that can be opened by grandparents, aunts, uncles, or any other adult for the benefit of a child.

    Uniform Transfer to Minor Account (UTM)

    An UTM account allows any adult to open an account on behalf of a child. The account is in the name of the youth, but the adult who opened the account is the one who has transactional control until the youth turns 21 years old. At that time, the account is transferred to the named youth. 

    This is a great account for grandparents, aunts or uncles looking to put money aside for a younger relative. 

    Education IRA

    Help save for higher education costs with an Education IRA. An adult can open an Education IRA and use the funds to support a child as they need it. The funds must be used for educational purposes without tax penalties. 


    Uniform Transfer to Minor accounts and Education IRAs cannot be opened online. Please contact us to get started. 

    Contact Us

Youth accounts must be opened by a parent or legal guardian, and parent/guardian is required to be joint owner of youth account. Proof of parent/guardianship required to fully open membership. Valid Social Security Number is required for the child. Youth savings account is a membership account, but there is no membership fee. Limit one youth savings and one youth checking account per child. Deposit truth in savings, rates and fees disclosure.

Banking for good

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