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Just for kids

Saving money can be difficult for everyone, especially young people. At YEFCU, we encourage our members to play an active role in their children’s financial lives. We firmly believe in financial education to improve the lives of our members and their families — and there’s no age too young to get started!

Open a Stork Account
Child sits with father on couch with piggy bank and money in hands.

Helping raise money savvy kids

The Credit Union National Association (CUNA) suggests the following financial education practices your family can incorporate to learn more about the importance of saving.

Little Asian girl in cream suit smiles triumphantly at table with piggy bank and coins.

Younger Than Age 5

  • Use a coin saver (a cardboard folder with round slots, usually the size of a quarter or a dime) to help kids identify coins and count money
  • Give your kids small change to spend when going to the store

Ages 5 to 10

  • Give them a weekly allowance. If children know that they’ll regularly get a set amount of money, it will make it easier for them to learn how to save
  • Let your kids save for, and buy, something that they really want
  • Suggest that your child portion their allowance into three different jars labeled “Spend”, “Save”, and “Share”
  • Once your child builds up their “Save” money, bring them to the credit union to open a Savings Account if they don’t already have one
  • Give your children the opportunity to earn extra money by doing jobs that are not a part of their regular chores such as washing the car or raking leaves

Pre-teens & Teenagers

Ages 11 to 14

  • Take your kids to the store with you to help them understand what things cost and how to shop smart. Let them help compare prices and product quality
  • Encourage them to do odd jobs such as babysitting, yard work, or pet care
  • Encourage your children to use their own money for non-necessities

Ages 15 to 18

  • Discuss saving for long term goalssuch as education and carsand devise a plan
  • Consider giving teens a seasonal clothing allowance, in addition to their weekly allowance
  • Help your teens to open a Checking Account
  • Encourage financially responsible teens to use a debit card with their Checking Account
Child making a coin stack on table.

Opening a Stork Club Account

Establish proactive financial habits for your child and a savings account that they can use for a lifetime.

The first step of your financial journey is just a click away.

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