Youth Savings Account
Sammy’s Savings Club offers:
• Welcome Gift
• Membership Card
• Contests throughout the year
• Rewards for saving money at GNO FCU
“One of the greatest gifts you can give your kids is to prepare them to be responsible, empowered adults around money.”– Author Unknown
Teaching kids about financial literacy early in life is key to helping them develop lifelong, healthy money habits that make their dreams possible. Unfortunately, financial literacy education often does not get the attention it deserves, and when it comes to important money matters, helping kids learn healthy habits early is better than leaving them to learn from costly mistakes.
Youth accounts are the first step in teaching our kids to have financial success as adults.
Here are a few advantages of opening a youth account:
- Develops good savings habits at a young age.
- Reinforces basic math skills.
- Teaches kids financial responsibility at an early age.
- Teaches kids the value of money….and that it doesn’t grow on trees.
- Helps teach them to set goals and save for the things they want.
Only a small deposit of $10 is needed to open and maintain the account. Dividends are paid monthly, which helps the account “grow”. To open a youth account, parent/guardian must:
- Have minor’s birth certificate and social security card.
- Be joint on the account.
- Have 2 forms of ID and Social Security card.
Acceptable forms of Primary ID include:
Louisiana State Driver’s License or ID & Social Security Card
Passport & Social Security Card
Military ID & Social Security Card
Acceptable forms of Secondary ID include:
- Credit Card
Work ID, etc.