Youth Accounts

Life’s a Journey we are here to guide you!

Our Youth Savings and Checking Accounts are designed to build financial awareness and develop good financial habits as young members move through life. As life evolves, we are excited to partner with you on the Journey!

Open a Journey Savings and Journey Checking Account to help your children take this first step toward financial independence. These accounts are available for ages 0-18 (Savings) and ages 12-21 (Checking) if their family are members of Labor CU.

Journey Savings Account

Ages 0 to 18: Building a Foundation of Saving

  • High-yield rate of 3.00% APY1 on the first $1,000, and 0.05% APY on balances over $1,000.
  • Matching credit union deposits for milestones, life events, and achievements.
  • Coindexter – Financial educational geared towards young savers.
  • Back-to-school rewards

Journey Checking Account

Ages 12 to 21: Responsible Money Management

  • Rewards debit card with 1% cash back2 on purchases
  • Mobile banking – Pay Anyone, Mobile Wallet, A2A Transfer, Account Alerts
  • Free Branch ATMs, no service charges, no overdraft
  • Up to 40$ yearly bonus for completing BALANCE Financial Awareness modules (10$ per module)
  • Report card achievement bonuses to promote the importance of education.
  • Establishing credit through your debit card
  • Secured Loans to build credit history.
  • College scholarship for DOLFCU members – Eligible by maintaining a good account or completing BALANCE Financial Fitness modules
  • First Auto Loan (with co-borrower) – preferred rates!

1 Annual Percentage Yields (APY) is accurate as of July 1, 2022 and is subject to change. No minimum balance required to open. Primary member on account must be 18 years old or younger. Journey savings accounts are transitioned to Regular Share/Savings when the Primary member reaches 19 years old. Account fees may reduce earnings.
2 Cash back payout limited to $15/month per account regardless of the number of debit cards issued. Primary member on account must be between 12-21 years of age. Journey checking accounts are transitioned to an adult checking account (Basic or Reward Checking) when the Primary member reaches 22 years old.

*New youth members must be new to Labor CU. Referral must be documented at open of new account. Awards deposited into savings accounts of new members 30 days after new account opening. New accounts must stay open and be in good standing for at least six months or risk Labor CU retaining incentive payout on either account. New members are limited to one award ($50) which is subject to income tax reporting. Labor CU reserves the right to restrict or retain incentive for accounts opened fraudulently or for fraudulent purpose and to end this program at any time. Terms are subject to change without notice. New account with referral must be opened by 09/2/2022 to qualify.