Why Choose Penlanco FCU for Your Child’s First Account?
At Penlanco FCU, we understand the importance of teaching financial literacy early. Our Youth Accounts are designed to be engaging, educational, and rewarding, helping your child develop smart money habits that will last a lifetime. By joining our credit union, your child becomes part of a community that values their growth and success.
Additionally, youth can earn dividends on their share accounts and potentially earn even more with a certificate of deposit. For those in the workforce at a young age, starting a savings plan early, such as an IRA, can pave the way for a secure retirement in the future.
Youth Accounts & Benefits
Opening Deposit Match
To get our young savers off to a great start, Penlanco FCU will match your child’s opening deposit, up to $25. This means if they deposit $25, we’ll add another $25, doubling their savings instantly!
Toy Chest Prizes (Ages 0-12)
Banking is fun at Penlanco FCU! Our youngest members, aged 0-12, can choose a prize from our toy chest each time they visit the credit union. It’s our way of making financial responsibility enjoyable and rewarding.
Report Card Rewards
We love to celebrate academic success! Your child can earn $1 for every A (or equivalent) on their report card, up to $5 per marking period. Just bring in report cards issued within the last 12 months, and we’ll add the rewards to their account.
Driver’s License Congratulatory Gift
Obtaining a driver’s license is a significant milestone! Members who have been with Penlanco FCU for at least 180 days will receive a special congratulatory gift upon obtaining their driver’s license. It’s our way of celebrating this important achievement with you.
Turning 18 Bonus
Turning 18 is a special occasion, and we’re here to celebrate it with you! Members who have been with us for at least 180 days will receive $10 for every calendar year they’ve been a Penlanco FCU member. This reward is issued in the month following your 18th birthday as our way of saying thank you for growing with us.
Checking Accounts with Debit Cards (Ages 13+)
For our teenage members, we offer checking accounts with debit cards starting at age 13. This feature helps teens learn to manage their money responsibly, with the convenience of a debit card for everyday purchases.
Penlanco FCU Bright Light Scholarship
We’re proud to support our youth members’ educational aspirations. As a member, your child will have the opportunity to earn the Penlanco FCU Bright Light Scholarship, designed to assist with college or vocational education expenses. Click here to learn more.
Open a Youth Account Today!
Opening a Youth Account at Penlanco FCU is simple and straightforward. You can open the account entirely online, or visit our branch with your child and a valid ID to get started (birth certificate or Social Security Card accepted in lieu of a valid Driver’s License). Our friendly staff will guide you through the process and ensure your child begins their financial journey on the right foot.