Teach Kids Financial Responsibility
Account Options & Rates
From saving for the future to spending with purpose, our youth savings and spending accounts give kids and teens a safe, guided way to learn money skills alongside a parent or guardian.
Youth Share Savings Account Information
Help your child build strong saving habits from day one. Our Youth Share Savings Account is designed for members from birth to age 18 and is jointly managed with a parent or guardian. With a low $5 minimum to open, no monthly maintenance fees, and a competitive APY on qualifying balances, this account rewards consistent saving while teaching the value of financial growth. When your child turns 18, the account seamlessly converts to a standard membership share—making it a smart first step toward lifelong financial wellness.
Account Features:
- Designed to cultivate savings habits from an early age.
- Jointly managed with a parent or legal guardian.
- Competitive APY rates incentivize savings growth.
- No monthly maintenance fees.
Youth Spending Account Overview
Give your child a safe, hands-on way to learn money management. The Youth Spending Account is designed for ages 10–18 and provides real-world banking experience with built-in safeguards. Youth can access their account through online banking and use a contactless Mastercard® debit card, while parents or guardians can easily monitor activity and transfer funds through their own online banking. With no overdraft protection or check-writing, this account encourages responsible spending in a secure, supervised environment.
Account Features:
- Linked to parent/guardian’s online banking for easy fund transfers and monitoring.
- Includes a Mastercard debit card with contactless pay and mobile pay capabilities for convenient transactions.
- Online banking access for the youth to manage their account.
- No check-writing ability or overdraft protection to ensure responsible spending habits.
- Encourages financial responsibility with real-world banking experience.
| Account Type | Dividend Rate | APY |
|---|---|---|
| Youth Savings (up to $5,000) | 1.98%7 | 2.00%7 |
| Youth Savings (over $5,000) | .10%7 | .10%7 |
| Youth Spending | No Dividends | No APY |
Build Financial Independence
Create a pathway for your child to learn about saving, spending, and managing money effectively.
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.
Cultivates Early Habits
Promotes financial education and responsibility.
Educational
Kids learn how to properly manage money.
Mobile Banking Features
Our Youth Spending Account provides online banking access for young individuals to manage their account in a secure and monitored environment.
View Account Balances
Check balances anytime so kids and teens can see their money grow and track what they spend.
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.
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.
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
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- APY=Annual Percentage Yield
- Fees may reduce earnings on this account
- Rates may change after the account is opened
- APY is accurate as of the last dividend declaration date
- (Youth Savings Account: Savings) This account requires $5.00 to open. Earns dividends. Rate may change after account is opened. Monthly activity requirements per qualification cycle: Average daily balance must increase by $1.00 or more month over month via a principal deposit. This increase cannot come from the dividend posting. This youth share account has a qualification cycle in order to earn the higher dividend rate, otherwise, if qualification is not met the base rate is earned. See rate sheet for current rates.
- (Youth Spending Account: Share Draft) No minimum balance required to open. Age requirements: 10 years to 18 years of age. Minimum age for account holder: 10 years of age. Account held jointly with parent or legal guardian. Parents or guardians must be members in good standing to have on-line banking access.
- Deposits are insured up to $250,000.00 in insurance by NCUA
- Deposits insured up to an additional $250,000.00 by Excess Share Insurance
- For a total insured amount of $500,000.00
- https://www.riafcu.com/personal/accounts/youth-accounts/#rate-tabs/2
Still Have Questions?
Open An Account Today
Ready to teach your kids about money? Open an account for your child today and start saving.