Savings -- Youth 13-17

L2Save Club is a Savings Account designed just for teens ages 13-17. It teaches good money management and provides an opportunity to demonstrate financial responsibility.

Accounts must be in the teen’s name with a parent or guardian joint on the account and can be opened with as little as $5.00. Free opening gifts are an MP3 case, Guide to Money book, and a savings transaction booklet.

This account pays the same dividend rates as our regular savings account, but dividends are compounded and posted monthly on balances greater than $50.

A postcard will be sent to the teen on his/her birthday offering a $5 deposit to their account if they visit the CU within 30 days and at the end of the school year if they bring in their report card, they will receive $1 in their account for each A (up to $5).

Also, if a Gift Card is purchased for the teen’s personal use, the fee will be half price.

The L2Save Club Account will convert to a regular MMFCU Savings Account upon reaching age 18.

Just for Teens! Cool Website Links:

• Get smarter while allowing the UN World Food Program to donate rice - http://www.freerice.com
• Practical Money Skills for Life - http://mmfcu.practicalmoneyskills.com
• What's My Score - http://mmfcu.whatsmyscore.org
• Myfirstpaycheck.com is a job-posting site for teenagers that provides job advice and job resources, including an interactive resume builder for teens, to help teenagers have a more successful job application process.
• White House 101 – http://www.whitehouse.gov/about/white_house_101/
• MoneyMix - http://moneymix.cuna.org

Calculators