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Youth Savings | | Youth Accounts
Available to minors under 18 years old, Youth Savings accounts earn a preferred rate of interest on the first $2500.00 in the account and the regular share rate on balances maintained over $2500.00. We suggest opening a Certificate of Deposit account as your balances grow to earn even higher rates of interest!
Interest is paid monthly and statements are issued quarterly. We also encourage educating youths on the use of the Internet, so be sure and take advantage of our online banking service and at the same time, you can also educate your children on the importance of protecting our environment by signing up to receive our Eco-friendly eStatements.
ATM cards are also available with joint parental ownership on the account.
Certain restrictions or limitations may apply. Please contact us with questions and ask for a complete account disclosure.
C.A.S.H. - College Account Savings Help
Receive a $1,000 bonus deposit to help with expenses upon your high school graduation and build a meaningful savings balance!
Woodlands Credit Union will award a $1,000 bonus deposit into a C.A.S.H account following the members' 18th birthday to assist with impending college expenses, purchase a vehicle, relocation, or whatever!
To qualify* for the bonus:
- Open a C.A.S.H account with a minimum $100.00 for any member less than 6 years old
- Make regular monthly deposits of at least $50.00 in the C.A.S.H account
- Earn interest & watch the savings grow!
* One skipped month's deposit will be allowed per calendar year. Deposits must be "new money" – direct deposit is encouraged" monthly transfers from another WCU account will not qualify". One bonus award/social security number is allowed. Any withdrawal made prior to the child's 18th birthday will disqualify earning the C.A.S.H bonus. C.A.S.H account balance or bonus need not be spent towards education expenses. The main member of the C.A.S.H acount must be the child for whom the savings is intended. Federally insured through NCUA. Other conditions may apply.
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Rate: .50%
APY: .50%
Minimum Balance to Earn APY: $25.00
Minimum Opening Deposit: $0.00
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Rate: .15%
APY: .15%
Minimum Balance to Earn APY: $100.00
Minimum Opening Deposit: $100.00
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Rate: .10%
APY: .10%
Minimum Balance to Earn APY: $100.00
Minimum Opening Deposit: $25.00
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