The Best Way to Teach Kids About Managing Money

Account Options & Rates

Learn more about our KARS program designed for kids ages 12 and under as well as our myCA$H program for teens.

KARS Account Information

The Kids Are Rewarded for Saving (KARS) program is designed specifically for kids under the age of 13. The program teaches the value of saving money and rewards kids when they meet their savings goal.

With a KARS account, kids keep track of their savings with a Saver’s Punch Card where one deposit counts as one punch. Once enough punches have been saved, the card can be redeemed for prizes.

Prizes:

  • Mood Pencil (2 points)
  • Highlighter (10 points)
  • Coin Pouch / Mini Football (15 points)
  • Water Bottle (25 points)
  • Lunch Bag (35 points)
  • Tasty Treat (45 points)
  • Movie Pass (60 points)

Kids Also Receive:

  • Official Membership Card
  • Small Gift upon Opening an Account
  • Small Gift on their Birthday
  • Birthday Card
  • Fun and Educational Information

Open an account today with as little as $5!

myCA$H Account Overview

Our myCA$H program is designed specifically for teens ages 13-18. The program is designed to give more responsibility and access to teens while teaching them about managing money.

Each myCA$H account includes:

  • Free Checking Account
  • Free Savings Account
  • Debit / ATM Card (custom cards available)
  • Access to Online / Mobile Banking

We also reward our youth members with the following cash incentives:

  • $5 for first direct deposit
  • $5 for e-statement sign up
  • $5 for debit card sign up
  • $10 for Mastercard® credit card sign up
  • $10 for first $500 saved

Open an account today with as little as $5!

Account TypeDividend RateAPY
KARS Account.10%7.10%7
myCA$H Account.10%7.10%7

It’s Never Too Early To Start Saving

Set your child up for success by teaching them the importance of saving and managing money.

Easy To Get Started

Open up an account for your child with as little as $5 .

Accounts For All Ages

We offer accounts designed both for young kids and teens.

Rewards Based

Kids earn rewards when they meet their savings goal.

Educational

Kids learn how to properly manage money.

Mobile Banking Features

Our myCA$H program gives teens access to their account through our digital library of fast, secure and reliable mobile banking tools.

Free Credit Monitoring

Check your credit score daily with no impact on your credit and see how financial decisions will effect your credit score.

Mobile Wallets

Add your R.I.A. issued debit card to your mobile wallet and make purchases directly from your mobile device.

Mobile Check Deposit

Save time by depositing checks from the convenience of your own home with our mobile banking app.

Mobile Card Controls

Turn cards on and off, control transaction limits, manage notifications and more with our mobile card controls.

Youth Accounts FAQ

You have questions. We have answers. See below for a list of our most frequently asked questions about our youth accounts.

Can I open an account for my minor child?

Yes, it’s never too early to start saving! A parent or legal guardian may start membership for a minor child. However, the parent or guardian must also be a current member. We offer accounts designed for both young kids and teens.

Do I need to be a member to open an account?

When you open an account with R.I.A. Federal Credit Union you become a member of our credit union. We are a member-owned cooperative dedicated to meeting your financial needs!

Disclaimer

7. Youth Accounts

    • APY=Annual Percentage Yield. APYs accurate as of 09/01/2018; the last dividend declaration date. Rates may change after account is opened.
    • *Rates may change after the account is opened. Fees may reduce earnings on this account.
    • (KARS Account) This account requires $5 to open. Earns dividends. Rates may change after the account is opened. Fees may reduce earnings on this account. 1 deposit equals 1 point. Points can be redeemed for prizes. Members under the age of 18 need a co-signer on the account.
    • (My Cash Teen Account) This account requires $5 to open. Earns dividends. Rates may change after the account is opened. Fees may reduce earnings on this account.  Cash incentives are paid out when myCA$H member brings in membership card to verify incentive behavior has been completed. Direct deposit, E-statement, debit card, MasterCard®, and $500 saved incentives are paid once. Certain restrictions apply, not all will qualify. Members under the age of 18 need a co-signer on the account.
    • Deposits are insured up to $500,000 with up to $250,000 in insurance by NCUA and up to $250,000 in insurance by Excess Share Insurance.

Still Have Questions?

Open An Account Today

Ready to teach your kids about money? Open an account for your child today and start saving.