Youth Accounts

Lanco Federal Credit Union offers several types of accounts, and a variety of incentives, to encourage kids and teens to save on a regular basis. This is a great opportunity for parents to partner with Lanco FCU to teach their children about financial responsibility and the value of saving for their future!

Youth Savings

Savings Accounts

Share Savings Accounts

To open a Lanco FCU membership for your child, all you need is a $5.00 deposit to keep in the child’s Share Savings account. There is no monthly fee, and accounts with balances of $25.00 or more earn dividends. With this account, your child can maintain Lanco FCU membership into adulthood, giving them access to all of the benefits Lanco FCU membership offers.

Hang Ten Savings

Hang Ten is a long-term savings program designed to encourage youth to save consistently to better prepare them for financial responsibility in adulthood. Each month that you deposit at least $10.00 into a Hang Ten account, Lanco FCU will deposit $1.00.

  • Hang Ten accounts with a balance of at least $25.00 earn dividends.
  • Report Card Rewards may be deposited into this account to count toward the $10.00 member deposit.
  • Funds from the Hang Ten account may only be withdrawn when the child reaches age 18 and has participated in Lanco FCU’s required financial counseling program.1

Youth Certificates

With Certificates (often called “Certificates of Deposit” or “CDs”), you will earn a higher dividend rate because your funds are deposited for a fixed period of time. Once a Certificate is opened, additional deposits cannot be made and early withdrawals will incur penalties.

Lanco FCU offers the following Youth Certificates:

  • Kids (ages 0-12): Minimum deposit of $100.00, Term of 1 Year2
  • Teens (ages 13-17): Minimum deposit of $250.00, Term of 1 Year2

View current certificate rates

Report Card Rewards

Report Card Rewards

Your child can earn extra savings by redeeming their good grades for dollars!

Students in grades K-12 can earn $1.00 for each “A” (or equivalent), up to $5.00 per marking period. Rewards may be deposited into the child’s savings or Hang Ten account.

Teen Checking

Lanco FCU’s free Kasasa Tunes® checking with rewards is the perfect account for high school and college students. There’s no minimum balance, it’s always free, and best of all—it lets you earn rewards like refunds on iTunes®, Google Play® or Amazon.com® purchases and refunds on ATM fees!³

You can introduce your child to using a checking account as early as age 13. It’s simple to start with Lanco FCU’s free Kasasa® checking. There’s no minimum balance requirement, no monthly fee, and best of all—your child can earn rewards like free song downloads and ATM fee refunds!

Teen Checking

Visa Debit Card

When your teen gets his or her first debit card, it can be a very exciting experience. It’s also a great time to teach lessons about responsible spending and account management.

  • Teach your teen about good safety habits, like knowing your surrounding at ATMs and keeping your PIN confidential.
  • Guide your teen through using online and mobile banking to review account activity and make transfers.
  • Encourage your teen to keep a register, check available balances, and avoid making impulse purchases.

1Hang Ten Savings: If the child fails to complete the financial counseling program within 90 days of his or her 18th birthday, Lanco FCU’s contributions will be forfeited and the remaining Hang Ten account balance will be transferred to the child’s Share Savings account (Trailer 00). The Hang Ten account will be closed. Additional terms and conditions apply. Ask a Lanco FCU member services representative for details.

2The opening balance of Kid’s and Teen’s Certificates must be less than $500.00 to earn the rate advertised. Only one Kid’s or Teen’s Certificate allowed per account. Additional certificates and certificates with opening balances of $500.00 or more will earn the rate of regular certificates.