Youth Accounts
Give kids the guidance to do more with debit.
Empowering the next generation of smart financial choices
Our Youth Accounts give teens the power to do more, with responsible spending guidance from Mutual Credit Union.
The best way to learn and grow
Instill good financial habits and mutual respect early on.
Responsible spending power
A free Visa® debit card gives them confidence and convenience for everyday purchases.
Free digital banking
They can bank anywhere, anytime with our free mobile app and online banking.
Watch balances grow
It’s a stepping stone to building savings, with no monthly fees to get in the way.
Choose the right Mutual Youth (MY) account to support your child
MY Debit Account
Open with as little as $10.
The next time your child asks for cash? No problem. Drop it on a card they tap or swipe to teach them how to spend responsibly.
They can get 4.00% cash back* on anything they buy up to $250 in purchases monthly—no category restrictions. Earn up to $10 per month.
It’s the perfect account for tweens and teens between ages 8-19, with no monthly maintenance fees, no minimum balance requirements, and access to all free digital banking.
MY Investment Account
Open with as little as $10.
Teach your kids the value of savings as early as possible, with dividends earned throughout their entire life.
Earn 0.50% APY* on balances up to $5,000 and 0.25% APY* on $5,001 and up.
Exclusive to children from 0-19 years of age, with higher dividends than a regular savings account, no monthly maintenance fees, no minimum balance requirements, and access to free digital banking services.
*APY = Annual Percentage Yield
It’s easy to get started
We’ll help you through it all so you can set your teen up for success.
Account essentials & guidance for parents
Who can open it?
These accounts are exclusive to tweens and teens between the ages of 8 and 19.
Building strong habits:
These accounts instill basic money management and financial habits at an early age.
Getting started:
- A $10 minimum deposit is required to open each account.
- No monthly maintenance fees on either account.
- No minimum balance requirements on either account.
Disclosures
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*In order to earn, cash back on point of sale transactions using your VISA debit card, and be reimbursed for domestic ATM fees incurred (not to exceed a sum total of $10.00), during each monthly qualification cycle you must use your VISA debit card and make 7 or more point of sale transactions, that post and settle to our account as evidenced by your monthly statement. Cashback credits will be earned at the rate of 4% of qualifying purchases, up to a maximum of $250.00 in debit card purchases (resulting in a maximum of $10.00 cash back per monthly qualification cycle). You must present a copy of the original receipt (within sixty days of the transaction date) and that details the specific amount of the total charge, for any individual Domestic ATM fees that you feel were not properly reimbursed. If we find in your favor we will credit your account, otherwise we will provide you with a notification explaining why the original amount reimbursed was correct.
Each monthly qualification cycle will begin on the 1st day of the month and end on the last day of the month.