At DFCU Financial, we believe it is crucial for youth to be involved in making money decisions and saving at a young age. By doing so, they grow good financial habits, establish a healthy relationship with money, set themselves up for a successful financial future, and develop a sense of responsibility and independence. As this year’s theme mascots may say, we set up our youngest members up for long-term financial success in several “pawesome” ways.
First off, if your children haven't met Penny and Bill from our quarterly newsletter, Puppy Post, they're in for a treat! These financially savvy pups share tips to make saving fun in every issue. They even offer deposit coupons that let young readers earn prizes, like stickers and stamps, when they deposit money into their account each month. Plus, the newsletter actively involves children by featuring their writing and photos, making them engaged participants in their financial journey.
But wait, there's more! We also offer Tween and Teen accounts to help promote financial literacy among our youth. Tweens (ages 10 – 13) can open a savings account, while teens (ages 14 to 17) can have a checking account, savings account, and debit card. Both accounts are eligible for our Cash Back program and can also benefit from being the beneficiary account of an account enrolled in our Debit Roundup program.
Currently, account holders under 17 only need an average yearly deposit balance of $100 to be eligible for Cash Back!
And Debit RoundUp is like a personal piggy bank, but better. Every time you make a purchase with your DFCU Financial debit card, we round it up to the nearest dollar and stash the difference into a savings account for you. For your teen, this can be their savings account. For an enrolled adult, it can be your children’s savings accounts. It's an easy way to save for their future, without even having to think about it! Plus, the little bits add up over time - we've already helped our members save over $2.5 million with this amazing feature.
So why not help your children become financially savvy early on? Encourage them to read and participate in Puppy Post and help them start saving and managing their money with DFCU Tween and Teen accounts. And together, let's unleash the power of saving at your credit union for National Credit Union Youth Month.
Links to Resources:
Download a Fun Savings Coloring Page
Discover our Kids & Teen Accounts