Help Your Child Become a Lifelong Saver

Do you wish you had started saving earlier? A GHS Federal Credit Union Youth Savings Account gives your child or children a tangible and responsible way to learn about budgeting and setting goals. Not only can you and your child contribute to the account, but GHS rewards our youth members with cash for healthy habits in school, around the community, and more with contributions to their account (up to $100.00 per year!) – start today!

 

WHAT MAKES IT A YOUTH ACCOUNT?

It’s a custodial account, which means a parent or guardian shares joint ownership of the account, including access to the account balance. When your child reaches maturity and leaves home, the money they’ve saved goes over to them.

 

Rewards and Perks

  • Rewards Points: For every 10 points your child earns through a list of qualifying actions, GHS FCU will deposit $10.00 into their savings account. Each child can earn up to $100.00 annually by volunteering, showing improvement at school, taking time to learn financial topics from GHS, and much more

  • Welcome prize for each child

  • FREE access to our coin machine (located at Main Branch)

  • Reduced opening deposit on Share Certificates

  • Free online account access

JOINING THE YOUTH SAVINGS ACCOUNT CLUB IS EASY!

Becoming a member of GHS Federal Credit Union and our Youth Savings Club is simple. You only need these 3 things to open your account today:

  • Social Security card

  • Parent or Guardian for Joint Ownership

  • A $1.00 deposit

View Rates
 

How to Earn Points With the Youth Savings Program

Submission Form For Points
 

For our elementary-age savers:

  • Proof of volunteerism in the community

  • Proof of charitable donation of any kind – not just cash

  • Every A or numerical equivalent grade on your quarterly report card. Improved assessment over time counts too

  • Submitting 1 completed financial wellness worksheet

  • Opening a Junior Certificate of Deposit. Check out the available options

  • A deposit into your youth savings account of $5.00 or more

  • Each birthday

For our middle through high school savers:

  • Proof of volunteerism in the community

  • Proof of charitable donation of any kind – not just cash

  • Every A or numerical equivalent grade on your quarterly report card. Improved assessment over time counts too

  • Opening a Junior Certificate of Deposit. Check out the available options

  • A deposit into your youth savings account of $25.00 or more

  • Each birthday

  • Attending 1 Financial Wellness Workshop quarterly at GHS. *Members 15 years or younger need a guardian in attendance

  • Direct Deposit for paychecks

 

Other Youth Accounts from GHS

We offer other tools that will help kids learn about money and to save for the future. They’ll learn to plan for the long term with junior share accounts and to put aside money for something they want with our Holiday Klub.

 

JUNIOR TERM SHARE ACCOUNTS (CERTIFICATES OF DEPOSIT)

Want to really pique your child’s interest in money? Consider a GHS Federal Credit Union special Junior Term Share Account. 

We’ve lowered the minimum balance required to earn Term Share Dividends and help make it easy for your child to save.

KRIS KRINGLE HOLIDAY KLUB

Kids can save the money they need for that special holiday gift. Our Holiday Klub lets them set a goal – and save to meet it.

 

Youth Savings and Kris Kringle Accounts are variable rate accounts and, as such, subject to change. Dividend rates are anticipated rates based on earnings.

Interest rates are subject to change at any time. For further information about savings rates, applicable fees, and terms, please contact GHS at 800-732-4447. Early withdrawal penalties may be imposed on Term Share Accounts.

 

Youth Accounts FAQ

How do you apply for a youth savings account?

Our three-step application process is easy. You answer a few questions to establish your eligibility, and have the following documents and information ready:

- United States government-issued ID (i.e., your driver's license, state ID, or your passport with a current address)
- Your complete physical and mailing address
- Social Security Number
- Your date of birth

Who is eligible to become a GHS Federal Credit Union Member?

Anyone who lives, works, worships, goes to school, or volunteers in Broome, Tioga, or Chenango Counties in New York can apply for membership. Immediate family members of GHS account holders are also eligible to join.

Even better, if you move away, you can hang onto your GHS Federal Credit Union membership. It’s a lifetime relationship!

With our online and mobile banking features, you can access your accounts from anywhere, whenever you need to. Check your balance, make deposits, and more!

What if I need or want to add a beneficiary to an account?

You can add or remove an account beneficiary by giving us a call at (800) 732-4447. 
You can also add or remove them by visiting one of our convenient branches.

What other financial wellness resources are available to help me teach my child about financial responsibility and money management?

We offer a library of articles, arranged by category, to help readers improve their financial wellness.

What are the additional benefits of GHS Federal Credit Union membership?

Our members enjoy access to our products and services, including checking accounts, debit cards, and credit cards, and the ability to check your balance whenever and wherever you want with our mobile app.

Additional benefits include:
- E-Statements
- Access to thousands of free ATMs through our ATM networks
- Make deposits to your account at your convenience with our mobile deposit feature