Get the Best Youth Checking and Savings Accounts Here!

A family of four putting money into a piggy bank.

Not long ago, families didn’t speak about managing money in public, especially not around their children. This tactic left children to grow up as adults with little to no money management skills. But you can reverse that precedent by opening youth checking and savings accounts to start your children on the right financial foot!

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. These kids’ savings accounts are a great opportunity for parents to partner with us to teach their children about financial responsibility and the value of saving for their future!

Encourage Fiscal Responsibility with Youth Savings and Checking Accounts

When you open an account for your children with us, you can begin encouraging smart money habits early. Choose the best (or more than one!) account for your kiddos from the list below!

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Share Savings Accounts

To open a Lanco FCU membership for your child, open a membership Share Savings account. 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. Your child can also access free coin counters and maintain their credit union membership into adulthood, giving them access to all our membership benefits.

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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. To encourage them to contribute to their savings, each month that you deposit at least $10.00 into a Hang Ten account, we will add $1.00 to the dividends earned. This savings account is a great way to begin setting and achieving savings goals for your children.

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Youth Certificates

Certificates, often called “Certificates of Deposit” or “CDs,” will earn a higher dividend rate because your funds are deposited for a fixed period of time. Once a Certificate is opened, additional deposits can’t be made, and early withdrawals will incur penalties. We offer Youth Certificates for members ages 0-17, with a minimum deposit of $250.00 and a term of one year. View current certificate rates.

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Report Card Rewards

Your child can earn extra savings by redeeming their good grades for dollars, deposited right into their youth checking or savings account! Students in grades K-12 can earn $1.00 for each “A” (or equivalent), up to $5.00 per marking period. This program from your local credit union encourages healthy money AND learning habits. Rewards may be deposited into the child’s Share Savings or Hang Ten account to encourage saving money.

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Teen Checking

Our free Kasasa® checking is the perfect youth checking 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! Choose between high dividends or cash back on debit card purchases, and get refunds on ATM fees!* 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, so open an account today!

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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. You can teach your teen about good safety habits, like knowing your surrounding at ATMs and keeping your PIN confidential. Help guide your teen through online and mobile banking to review account activity, make transfers, and build smart money habits with this bank account.

*Account approval, qualifications, limits, and other requirements may apply. Kasasa is a registered trademark of Kasasa, Ltd., registered in the U.S.A.

Why Choose Us to Help Teach Your Children Good Financial Habits?

mother and daughter with a piggy bank

You have many options when searching for the best savings account for teenagers or the best youth checking accounts. There are many other banks and credit unions in the area from which you can choose, but if you want a financial institution that encourages savings, choose us!

Our minimum opening deposit is only $5 for a Shared Savings account, and this account allows your child to begin good financial habits early. Once they reach $25 or more in the account, they’ll begin earning dividends (interest), so they can see how saving their money allows it to grow!

As your child gets older and ready for a teen checking account, they’ll already have established good savings habits. Because of this strong foundation, your child will be more apt to save their money rather than blow it all on frivolous purchases.

Not to mention, we also reward your children for saving by adding extra money to their dividends and offer them rewards for earning A’s (or the equivalent) in school. For these reasons and all the benefits of membership at our credit union, Lanco FCU is the best place to open a savings or checking account for your child.

For the Best Youth Checking and Savings Accounts, Join Lanco FCU!

smiling kid at a school desk

You want to instill good financial and savings habits in your children. To do that, you need a reliable and local financial institution that has programs that help you to encourage your child to save. The problem is so many banks require high minimum balances or charge fees that make it difficult to establish savings.

We understand your desire to teach your kids smart money habits, and that’s why for more than 55 years, parents in Lancaster County, PA, have chosen us for their child’s first savings accounts.

The programs we offer help to build a savings account that can eventually be used to help buy their first car or pay for college. It’s also easy for their accounts to mature into an adult’s checking account, which means they can establish financial habits that will last a lifetime. Give your child the financial start they need and open a youth checking or savings account today!

teen with a debit card and piggy bank

FAQs About Youth Accounts at a Credit Union

We know that putting money for your children into an account can be a little scary. After all, you want them to grow healthy money habits, not think money grows on trees. But with our accounts, we take away the fear and provide money growth opportunities for your children. Here are the answers to some of the most common questions parents have about our accounts.